A current theme is buzzing throughout the medical device development community. It has to do with innovation, and more importantly, how organizations create and drive innovation. In product pipelines, standards of care, patient engagement and patient experience. Unfortunately for the industry, most companies fail to fully understand and embrace the source of innovation. Lacking these insights, organizations struggle to spark, kindle and sustain a highly innovative development model. Traditional R&D has focused its attention on […]
Other than pharmaceutical and technology companies, no other industry invests a greater percentage of revenue into R&D than medical device (holding steady at an average of 6.7%). The returns on these investments in innovation are, however, under stress. According to a Deloitte study published in 2016, pharmaceutical company returns on R&D have fallen from 10.1% in 2010 to 3.7% in 2016. Similar concerns are arising in med device, and companies are exploring new methodologies to […]
It’s perhaps the most commonly heard value proposition in the contract engineering market space…we’re faster than our competition. What isn’t necessarily offered up is faster at what? There’s a place for fast, but not at the expense of fastidiousness. Speed of engineering alone is not enough. The driving goal in today’s highly dynamic marketplace should be speed to cash flow, and that involves a lot more than just engineering. Time bites into medical device companies […]
Celebrating its 10 year anniversary, REV.1 Engineering announced today it is introducing Strategic Development and Innovation solutions for its customers operating in global medical device and life science markets.