Healthcare data is growing at an exponential rate, but how can medtech companies monetize this data, despite privacy concerns and healthcare industry idiosyncrasies surrounding the source, user and use case? Understanding types of data monetization, examples from healthcare industry and a framework to assess potential of medical devices on a case-by-case basis can help companies build a strategy to monetize their device solutions.
This research helps with the following:
• Explaining the difference between direct and indirect data monetization
• Understanding application of direct and indirect monetization to the healthcare industry and medtech sector
• Providing a framework for MedTech companies to assess the data monetization potential for each product (along parameters in accompanying image)
• Examples of monetization for devices (Hillrom hospital beds), surgical equipment (Olympus Endoscopy AI), imaging equipment (GE Healthcare CT devices), prostheses and implants (Zimmer Biomet knee implants), and consumables (Edwards Lifesciences hemodynamic sensors)
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