Medtech Embraces Subscription-Based Models

Adobe transformed its business model by shifting from selling software to selling subscriptions. Instead of paying $500 for Adobe Acrobat software, for $14.99 a month, users receive all the features of Acrobat plus a mobile app, cloud storage and other features. Similarly, medical device companies are taking a more holistic view, offering tools that take the products beyond point-of-care. Subscription-based payment models are a way for medtech companies to expand service offerings while helping hospitals meet financial objectives. "When you change the model from ownership to access, you can offer customers a package that allows them to treat patients in a more efficient and flexible way," said Jay Zhu, medtech strategy and marketing practice lead for ZS Associates. "Although some benefits of a subscription model are similar to a traditional equipment lease model—predictable and easy monthly payments, for example — the subscription model offers additional value and convenience.” Don't miss the Advanced Design and Manufacturing Conference and Expo in Cleveland, March 7-8, 2018.   nfant uses subscription-based pricing for the reporting components of its nfant Feeding Solution. The system includes a sensor that connects to standard bottles and nipples. The sensor wirelessly sends feeding data to a mobile app, which clinicians use to observe feeding parameters. NICU and PICU feeding teams then use nfant analytics to analyze and compare data for all patients. "We offer slidi...
Source: MDDI - Category: Medical Devices Authors: Tags: Medical Device Business Source Type: news