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Manufacturing the Appropriate Medical Devices for the Right Market

Thomas M. Loarie, Executive Chairman, Mercator MedSystems, a speaker at the marcus evans Medical Device Manufacturing Summit Fall 2012 and the Medical Device R&D Summit Fall 2012, comments on globalization and how the industry leaders must understand the processes they are employing.

New York, NY, Nov 21, 2012 - (ACN Newswire) - "Medical device manufacturers should invest in gaining a global education. This will give them a true comprehension of the logistics, supply and inventory systems that are the processes that drive the product," says Thomas M. Loarie, Executive Chairman, Mercator MedSystems, Inc. "Understanding the segments on which executives invest will help them align this with the manufacturing opportunities within the US and those abroad," he adds.

A speaker at the upcoming marcus evans Medical Device Manufacturing Summit Fall 2012 and the Medical Device R&D Summit Fall 2012, in Colorado Springs, Colorado, November 27-28, Loarie focuses on why key individuals within the medical device manufacturing industry should collectively understand the Healthcare Reform Act to pinpoint future opportunities.

- What effect is globalization having on medical device manufacturers?

Multinational companies are up against global competition, so they are beginning to manufacture in China. They are also limiting employee growth inland and seeking for labor imports so they can participate in globalization. With the passing of the 2.5 per cent tax on revenues, more US medical device companies will open plants aboard while expansion within the country will slow down.

Medical device manufacturers should invest in gaining a global education. This will give them a true comprehension of the logistics, supply and inventory systems that are the processes that drive the product. Understanding the segments on which executives invest will help them align this with the manufacturing opportunities within the US and those abroad.

- How can they prepare for the new set of healthcare market drivers?

The sector is seeing an increase in the emergence of sensor technologies that can be worn by the patient and monitored results wirelessly transmitted to the doctor. This will reduce the labor content in the healthcare system. The structure is also changing, with treatment moving from the hospital or clinic setting into the home.

Great attention should be paid to Washington D.C. so that a foresight on legislation can be had. Key people from the product development and manufacturing side, and also executives preparing strategies, should collectively understand the Healthcare Reform Act and how it will be implemented. This would allow the team as a whole to focus on and locate future opportunities.

- What makes for a successful quality assurance system?

The industry is built on patient focused people who care. Quality systems come down to having the right risk management and putting the right controls in place to ensure that the product meets quality standards. Getting the right people is the key to quality.

An open culture should also be established within the company, enabling employees to look for problems and report them. In this way problems are solved, business can move forward and quality is of a high standard.


For more information please send an email to [email protected] or visit the event websites below:

Medical Device Manufacturing Summit Fall 2012:
www.medicalmanufacturingsummit.com/ThomasMLoarieInterview2

Medical Device R&D Summit Fall 2012:
www.medicalrdsummit.com/ThomasMLoarieInterview2

marcus evans group - manufacturing sector portal

marcus evans group - manufacturing sector portal - http://tiny.cc/FWbg2b

Please note that the Summit is a closed business event and the number of participants strictly limited.

About marcus evans Summits

marcus evans Summits are high level business forums for the world's leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com.

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Source: marcus evans Summits

Contact:
Maria Gregoriou
Journalist, marcus evans, Summits Division
Tel: +357 22 849 400
Email: [email protected]




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