By definition every solution, regardless of its design, targets a specific customer challenge. The key to configuring effective solutions is to understand the customer’s needs, but majority of medtech companies find this as a main obstacle.
Moreover, to develop a solid solution, it is important to identify which internal and external factors will shape the solution’s configuration and to what extent. This requires a thorough analysis to nail down the specific factors that need to be considered. Key questions to answer among others are:
More and more medtech companies are introducing solutions to the market. Besides the operator model with the well-known example of full cath lab management, there are various facets of solution offering tailored to the individual company and customer setting. Below, we present two companies that have had considerable success in implementing this framework.
A leading supplier of fertilisation products developed a solution to increase the effectiveness of its pharmaceuticals. In addition to its drugs, the supplier launched lab technologies and introduced Standard Operating Procedures for labs to ensure process quality. Through this measure, the company was able to increase revenue by 3.7% despite the market contracting by 7% at the time. Selling solutions helps evade market pressures.
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