Company looks to enhance medical imaging using technology:VR

 

 

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Image Source: Company Website

Company looks to enhance medical imaging using technology:VR

We are referring to Echo pixel’s quest of commercializing its software platform that provides virtual 3D images of critical organs such as heart, lungs and others. Now, those who are in the medical field would have already identified the advantages of such a technology.

It helps care providers to look into the organ morphology on virtual platform, there by enhancing service providers on field action. In order to take this platform to the bigger crowd, Echopixel has partnered with HP, and plans to use HP display for showcasing its 3D images to physicians, medical students or who ever concerned.

Vitual reality aka VR, is technology which is most widely been explored in medtech applications, with venture like that of Echopixel, it is motivating to see that some of the smart brains of this era are not running the blind folded race, and are trying to better healthcare through their respective innovations.

Software has been FDA approved, and is likely to surface as a major breakthrough in the medtech field.

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Value based propositions starts with value focused contracts

Image Source: Company Websites

Image Source: Company Websites

Healthcare market is expected to grow not just in terms of numbers but also in terms of value propositions. This was thought, on foundation of which many reforms were structured and passed. However industry move on the same front became evident only recently, when there was an uptick in deals amid Medtech behemoths and Hospital centres, all revolving around value based contracts.

Value based healthcare contracting strategies saw an increased materialization in last few months. One common feature that was noticed in these partnerships was a relation that extended far beyond device sales, and stretched into an un-explored territory of streamlining running cost via various service packages.

One of the companies that were part of value based contract strategies was GE, which recently inked deal with Philadelphia’s Temple University Health System. Deal was in alignment with Jeff Immelt’s future plans for GE, and included upgrade of TUHS radiology centre, along with software support that health-centre could leverage to cut operational costs.

Deal surfaced up just after row of similar deals getting frozen between GE’s peers namely Siemens and Philips. While Philips landed a half billion dollar contract with WMC Health, Siemens locked hands with Canada based William Osler Health System.

The partnerships and contracts mark the beginning of an era where Hospital-Medtech relationship were not just to accomplish momentarily transactional tasks but spreads over continuous strategic task of reducing the operational spend. This fact is well prooven by the acknowledgment which outlined that GE-TUHS relation relied on the target of generating savings as high as USD 39 million over the contract tenure. These facts clearly outline that centre of these activities was to accomplish savings, which is a prime goal of hospital centres that are struggling to beat the bludgeoning cost pressures from various sides.

Key to execute this strategy lay in the development of technologies and platforms that reduce the operational cost at different layer. A simple example could be making the devices connected which helps in data sharing across physicians , patients and other associated personals , this reduces the cost of paper work, time requirement to execute patient treatment and other aspects, which on totality reduces the overall service cost to considerate amount.

Contracts amid various players in healthcare ecosystem will no longer be focused on tactical front , they are likely to expand and venture into strategic areas , where crux of the activity will lay in beating the cost pressures.

While the trend has just picked up, more similar deals will surface up in nearing future.

Keeping an eye for best strategy will drive the overall growth of healthcare sector.

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Google’s hunger for healthcare doesn’t seem to fill

dEXCOM

Healthcare sector has a tremendous future.

Why so won’t be a complicated question to answer, its mainly because ; it has understood, that prevention is better than cure( explains wearable double digit growth) and it has also found out that commercializing is better than prototyping ( explains why there are minimal of 5 innovations that surface up in healthcare every fortnight).

Traversing on the same path, Google has released packets on innovation in past and continues unfold its new ventures every now and then.

Google recently inked a deal with Dexcom, the diabetic sensor pioneer to develop a bandage like disposable continuous glucose monitor that eventually could change the face of diabetes treatment. This deal like Google’s all last deals have revolved around monitoring, and involve integration of Google’s electronic platform with Dexcom sensor technology.

The deal surfaced up last week, post release investors’ confidence reached new heights, as company (Dexcom) laid down a strong foundation of its plans of future growth. While its(Dexcom) last quarter revenue growth backed its overall claim of being at forefront of CGM developments, its deal with non-core players stood testimonial to the fact that it was leaving no stone unturned to scale up diabetic therapy.

Transactions contract terms includes, Dexcom shelling out USD 35 million , followed by another 65 million cheque on milestone basis, further sales post USD 750 million of products involved royalty payments to Google. This clearly indicates how serious the duo stands on shaping this product, going by the above fact which indicates that a lot of time and monetary commitments are given by parties in concern.

Rational to the deal as per industry analysts are stating the fact that, the partnership generates win-win situation for both Google and Dexcom. Dexcom who has been enjoying the last quarter’s results, where it beat Wall Street expectations would get an opportunity to increase its foothold in diabetic space, while Google gets its hand on one more healthcare innovation.

Going by the trend which involves Google inking deal with Novartis for contact lens, launching its wearable health band, it would not be wrong to say the search engine behemoth “Google” as we know now, would be identified as healthcare company devising products from future in coming days.

Off late there are good number of deals, partnerships, acquisitions that are happening amid non- core companies and healthcare focused enterprises, now, is this a move of having a bite of a market which is witnessing a much consistent growth in comparison to its counterparts, or is it just a coincidence of similar deals that have happened at a particular time of year. Now that’s an analysis we need to touch base with, but going by the current scenario it would not be wrong to say that each player from different industry is laying down one or other stone with healthcare carved on it, and is heavily banking on the same for its long term and short term returns.

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