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MedTech to take advantage of digital platform as a service model to accelerate digital transformation across healthcare industry

A proven, compliant platform can expedite market entry and optimize time and effort without building competencies internally, finds Frost & Sullivan

February 24, 2021  by CM Staff

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SANTA CLARA, Calif. — MedTech and Life Sciences companies are transitioning beyond biopharmaceuticals, medical devices, and equipment to provide end-to-end solutions across the patient care continuum. The theme that runs through all these efforts is healthcare data; however, healthcare data management and analysis capabilities are difficult to procure. A domain-specific Platform as a Service (PaaS) that offers an easy to connect, secure, and compliant cloud and edge environment for secure data access and sharing among multiple stakeholders can be the secret sauce to a seamless digital transformation and rapid return on investment.

Frost & Sullivan’s white paper, MedTech Industry Leverages Platform as a Service (PaaS) to Overcome Hurdles, Capitalize on Big Data and Truly Embrace Digital Transformation, discusses the various platform approaches that are available to support MedTech vendors in their digital transformation efforts. It analyzes the advantages of a platform approach for managing healthcare data from multiple sources; leveraging applications that enable MedTech companies to offer value to healthcare providers, professionals, and patients beyond their products and services; and contributing to improved outcomes.

“teamplay has realistically opened up the options for R&D and digital transformation teams, within MedTech and Pharma companies, as they embark on programs relying on access to data and the ability to assimilate the same. This Digital Health Platform and its offerings help reduce the conundrum, that has plagued decision-makers, of investing in their own infrastructure that needs to remain relevant over time, ” explained Siddharth Saha, Vice President, Healthcare and Life Sciences at Frost & Sullivan. “The tried and tested platform offers first-mile connectivity and last-mile data access. It allows MedTech companies to operate across multiple clinical specialties and geographies by leveraging Siemens Healthineers’ experience in navigating market complexities and regulatory compliances.”

“teamplay can be the first choice for MedTech and Pharma companies looking for industry-specific digital infrastructure to accelerate their digital transformation journeys,” noted Manish Marotkar | Head – Platform as a Service Business, Siemens Healthineers. “As the world slowly emerges from the COVID-19 pandemic, there is an increased appetite and appreciation for digital tools and technologies that can make healthcare personal and precise. With teamplay, we want to accelerate the digital transformations across the healthcare industry by offering an easy to connect, secure, and compliant infrastructure.”

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teamplay harnesses Siemens Healthineers’ vertical expertise in imaging, regulatory compliance, infrastructure availability, and customer base to support its connectivity and data access capabilities. It presents MedTech companies with a range of competitive advantages, such as:

  • Access to healthcare data generated by a wide variety of data sources. teamplay uses healthcare data from multiple sources to drive digital transformation efforts and evaluate the performance of products to aid R&D.
  • Being future-ready by accessing and aggregating specific datasets.
  • Compliance with GDPR, HIPAA, and different interoperability standards (technical and semantical) to help clients address data privacy concerns while handling personal healthcare information.
  • Expansion into adjacent markets and clinical specialties. Widen geographic footprint without having to go through extensive regulatory, compliance, privacy, and security assessments.
  • Leverage the potential of data from existing networks, interconnections, and customer base. This opens up opportunities to collaborate among partners and build applications together.