The Value of Transparency in Medical Devices

Historically, medical device companies and healthcare providers have adversarial relationships when attempting to find alignment on the fair market value of implants. Transparency requires commitment in shared initiatives:

• Avoid taking partnerships for granted
• Bad apples are not comfortable with this change in doing business and are easily identified
• Fosters recognition of common goals (saying one thing while covertly trying to achieve something else)

Transparency is a tangible thing in customer relationships:

• Must be prioritized
• Must be proactively sought after
• Must be implemented

Transparency can result in more trusting healthcare provider relationships and strengthen medical device organizations:

• Invest in publishing relevant and high quality digital product data and information
• Avoid hiding product features using Trademarks to establish leverage
• Efficiently and effectively communicate across your organization and to customers

Medical device companies can create a big difference in how they interact with hospital customers, employees, and key business partners to improve on the adversarial relationships of the past to create positive alignment if transparency goals are achieved.

Contact Relatable Healthcare and discover how our Actionable Business Intelligence for Medical Devices platform can help achieve transparency and unwind the long history of adversarial relationships in the medical device business.