Mobile devices, with proper IT support, are set to be deployed for a wide ranging applications, particularly in the field of health care, clinical parameters (recording and monitoring), personal medical applications and monitoring of implanted devices.
Medtronic look forwards to take advantage of health IT solutions to broaden the company’s focus and find ways to generate more revenue from existing patients using the company’s medical devices, Medtronic new CEO Omar Ishrak said:
“This can help in opening new global markets ,given the highly mobile world that Medtronic plays in and the increasing efficiencies that come from health IT.
So will there come a day when every major Medtronic product comes with its own mobile app?”
The company will also leverage the information gathered from Medtronic’s remote monitoring technologies that are connected to implanted devices within a patient by using personal mobile devices.
Use of Care Link Network
The Care Link Network, is Internet-based and helps physicians manage the chronic conditions of patients such as cardiovascular disease and diabetese. In June, the company launched its first mobile app that would work with cardiac implanted devices. The free app allows physicians who are authorized to use the company’s remote monitoring CareLink Network to get the same information on their iPhone, iPad or iPod Touch.
Medtronic’s Care Link Network will be handy, through which information about a patient’s physical health is gathered remotely from electronic devices implanted within them.
“I do think that so far we have really looked at ourselves as a therapy type of company where our products have been therapy oriented,” he said. “I really think we have to go broader than just the therapy itself and think of ways to get recurring revenue from people with our implants and we have a variety of ways to do that. To the extent that IT fits into that, it will be certainly in the mix of our thinking.
This move is also intended to lower the overall cost of care. Not many medical device companies have tapped into the upcoming mobile apps and medtronic is leading the way. I look forward to track the development and utilization of health apps in relation to contribution to their revenues.