MedTech is so common and so integrated into everyday life that it is difficult to imagine living without this technology. Advancements in this field are designed primarily to improve the overall quality of medical care, which can be accomplished by lessening the amount of time it takes to make a diagnosis, by creating treatment options that are less invasive, and by reducing rehabilitation requirements and hospital stays. It has helped to improve general health, lengthen lifespan, and bolster quality of life.
Many of the innovations that have occurred within the MedTech industry have paved the way for entrepreneurs to create technology that has changed lives forever. The MedTech industry is currently a booming one because of how important it is and the opportunity it presents for people across the world. The startups and entrepreneurs who work within this industry are provided with very high returns whenever a product that they create is selected and distributed throughout the medical device industry. It’s also notable that many of the successful startups in this industry are regularly acquired by larger medical technology firms, which goes to show how beneficial it can be for startups and entrepreneurs looking to innovate within the MedTech space. In this edition, we bring to you the Top 20 MedTech CEOs of 2021. We hope this will help you to arm yourselves with modern medical technological tools in order to capitalize your value, form better partnerships, and improve the overall quality of patient care in a medical setting.
Sathya Elumalai Founder & CEO
Aidar Health is a healthcare technology and digital therapeutics company reimagining today’s standards for clinical trials, chronic care management, and health monitoring.
Martin Burns, CEO
A pioneer in biometric-sensor based medical devices; committed to earlier diagnosis and targeted intervention for chronic conditions
Jeff Markin, CEO
eHealth Technologies provides health systems with aggregated and organized clinical records and images that deliver electronically.
Carolyn Starrett, CEO
Flatiron Health is a healthcare technology company that aims to improve lives by learning from the experience of every cancer patient.
Nic Klopper, CEO
Lexie Hearing® is an innovative game-changer in the US hearing aid market, and is on a mission to make healthy hearing accessible to everyone with an all-inclusive, affordable hearing care solution that includes quality, medical-grade hearing aids.
Jade Doucet-Martineau, Co-founder & CEO
Puzzle Medical Devices Inc. is a Canadian company specializing in the development of a minimally invasive long-term hemodynamic transcatheter pump.
Jason Gorevic, CEO
Teladoc Health is the global virtual care leader, offering the only comprehensive virtual care solution spanning telehealth, expert medical, and licensed platform services.
Eric Lefkofsky, Founder & CEO
Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare.
Aidan Foley, CEO
True Digital Surgery manufacturers 3D digital technology with AI-enabled robotics for surgical workflow efficiency and imaging capabilities that enable surgeons to see critical structures in 3D, even before they begin a surgical procedure.
COVID-19 has accelerated the implementation of telehealth as well as remote patient monitoring around the world. This has given health systems the potential to digitally overhaul their patient care approach. The clinical community’s readiness to assist a change of IT to implement new healthcare models is lacking in health systems.
Lack of readiness throughout the clinical community for assisting an IT transformation to successfully implement new healthcare service models is a problem for health systems. Despite the clear gains of handling large populations via smart objects, the doctor community’s unbelief in data quality, particularly self-monitored as well as patient-reported information, would be a hurdle in the remote monitoring sector.
Given the requirement for remote health monitoring, the health sector should look into standalone platforms to update care delivery. Also, they should make strategic use of the appropriate technology and work forward toward enterprise transformation.
A study conducted over the medical sector depicts that a dynamic transformation is about to witness. Healthcare technologies are going to revolutionize the medical sector, such as artificial intelligence, big data, machine learning, cloud technologies, and many more. These technologies are streamlining various processes, such as finance, clinical operations, the workplace, and more. The prediction says that healthcare technologies will be greatly influencing the next decade with mesmerizing changes taking the level of medical sectors very high and setting new bars.
Integration of existing technologies with a cloud: Cloud integration with existing technologies is becoming a major source of medical sector transformation. In the recent era, several technologies are dominating the medical sector and now experts have integrated cloud technologies to enhance the operations of existing ones. Cloud technologies are helping professionals to segregate their functions and maintain a data backup for a lifetime duration. The use of cloud integration allows professionals to store data, and to mine it whenever required.
The global rollout of vaccines provides promise, but we must equally recognize the enormous hurdles of distributing and administering vaccinations at scale. The logistical difficulties are well chronicled, but cyber security dangers are also a serious concern that must be addressed.
Risks to patients and the organization
These times healthcare industry is particularly concerned about two issues. The first one is the prevalence of unsecured devices as well as legacy technology (like workstations, network infrastructure) in most healthcare institutions. The second concern is the rising risk profile related to network-connected medical devices, sometimes known as the Internet of Medical Things (IoMT) devices. These factors, when considered collectively, pose considerable clinical as well as organizational hazards.
Cyber-attacks with a specific target- There is more to this issue than meets the eye. When considering the complete supply chain, one must consider transportation businesses, manufacturers, distributors, and R&D centers. The truth is whether these are all appealing targets for opportunistic or more subtle damaging cyber-attacks. Attackers are becoming more aware of medical urgency as a technique of obtaining the desired consequences, like ransom payments. Vaccination programs are an excellent chance to avail benefits of this. Every device must be evaluated in such a clinical setting since its risk level may alter as a result, and knowing that new exploitable IoMT flaws are identified regularly. What needs to make sure is that planning for the logistical issues of mass vaccines, one should not forget about cyber security. And cannot afford to delay vaccination by keeping anyone at risk or lose valuable vials because the supply chain can only be as strong as the weakest link.
As networks become more complex and volatile, a solid security bedrock becomes increasingly critical. Healthcare industries are still in charge of security, which includes analyzing the regulations and standards of the supply chain.
The COVID-19 immunization program could become a game-changer for healthcare businesses if the correct technology applications are used. COVID-19 vaccination campaigns, on the other hand, are being prepared in partnership with public healthcare professionals to prioritize distribution by age groups, locate vulnerable population groups, regulate the demand-supply gap, trace vaccinated groups, and much more.
Administering large-scale immunization programs in every country is a huge undertaking that technology can help with. Governments all across the world have been quietly ramping up their IT capabilities to aid in vaccination delivery procedures The COVID-19 immunization program could become a game-changer for healthcare business if the correct technology applications are used. Vaccination drives only can benefit from health IT. It is critical to identify all workflows as well as stakeholders of the vaccination system or application being utilized to properly digitize the vaccination process.
While many physicians have been cautious about artificial intelligence in clinical settings in the past, in today’s fast-changing healthcare sector, many are considering how AI may enhance the quality of care and patient experience.
Patient’s engagement and their care
With the use of AI algorithms, the AI-enabled doctor may delegate ordinary and tedious duties like providing educational materials, obtaining prescription refills, as well as replying to patient concerns in today’s time of virtual care merging using in-person care. In larger areas, a physician can improve the efficiency of his clinic or department by using AI-powered technologies such as symptom checkers to screen patients Other uses of AI that serve to enhance the patient experience include the usage of AI-powered chatbots to handle common inquiries and book appointments.