Frost & Sullivan Applauds Medtronic Integrated Health Solutions’ First-mover Advantage in the Catheterization Lab-Managed Services Market
Medtronic Integrated Health Solutions’ value proposition helps care providers deliver high-quality care in a more cost-effective way
LONDON, U.K. — September 28, 2016 — Based on its recent analysis of the Managed Services market for cardiac catheterization laboratories (cath labs), Frost & Sullivan recognizes Medtronic Integrated Health Solutions (IHS) with the 2016 European Frost & Sullivan Market Leadership Award for pioneering and leading the way with a new business model based on long-term partnerships, vendor-independent services, and risk/value sharing.
"The IHS offering includes Managed Services for specialized care settings such as cath labs, operating rooms, and ICUs as well as disease-focused Managed Services to manage chronic conditions such as diabetes. The cath lab-Managed Services (CLMS) aids with the management, modernization, optimization, and development of cath lab facilities in Europe and the Middle East,” said Frost & Sullivan’s Paljit Sohal, Senior Consultant. "Importantly, the CLMS is vendor-agnostic and manages all aspects of a cath lab, regardless of the products used in them."
The Medtronic CLMS offering is built on four pillars:
• Funding and delivering state of-the-art infrastructure and capital equipment
• Managing non-clinical operations through on-site managers to enable focus on patient care
• Delivering efficiency gains and optimizing patient pathways through Lean Six Sigma expertise and a catalogue of Best Practices
• Accelerating patient access to care, developing health providers’ services, and enhancing patient experience and reputation
By deploying its Managed Services across a broad base of hospitals, Medtronic IHS can significantly invest in infrastructure, organization, processes, and technologies—this allows it to optimize and run care settings to the highest standard. By operating such care settings as a virtual integrated network, IHS helps customers collaborate, benchmark, and share best practices.
Frost & Sullivan also appreciated the fact that Medtronic through IHS is the only company in the market to offer total solutions and remains clearly advanced due to the acquisition of NGC Medical. This acquisition allows them to manage all devices in a cath lab, while competitors typically only offer some services on top of their devices as their only point of differentiation.
"Medtronic focuses on value-based partnerships. The key benefits for hospital administrators and doctors are value creation through efficiency gains, access to the latest technology, and an enhanced focus on patient care," noted Paljit Sohal, Senior Consultant. "Hospitals have the opportunity to become centers of excellence and to simultaneously increase operational efficiency through the optimal management of the cath lab, a resource-intensive department."
With its strong overall performance and compelling value proposition, Medtronic IHS has achieved a leadership position in the Managed Services for cath labs market with more than 90 long-term contracts in place across Europe and the Middle East.
Frost & Sullivan also believe that Medtronic IHS truly supports the vision and transition towards value-based healthcare, enriching Medtronic’s overall brand.
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.
About Medtronic Integrated Health Solutions
Medtronic is working with the global healthcare community to take its technology, services, and insights, and fashion them into solutions that either drive operational efficiency within the healthcare system or augment the delivery of care through better patient care management.
Medtronic created Integrated Health Solutions (IHS) business to focus on system-level services and solutions.
The cath lab Managed Services outlined by Frost & Sullivan are an example of how IHS forges partnerships with providers to deliver better outcomes for patients at a reduced cost. IHS deploys similar Managed Services across specialized care settings such as operating rooms, ICUs and outpatients clinics.
Through disease-focused patient care management solutions, IHS helps its customers achieve their goal of delivering more seamless, integrated care across the healthcare continuum.
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About Frost & Sullivan
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