ARTICLE SUMMARY:
As the digital revolution sweeps healthcare, traditional musculoskeletal companies are grappling with its value to their core businesses, but the answers are far from clear-cut. We asked Health Advances experts to assess the extent to which these companies are integrating AI into their business strategies and what the future holds.
The exhilaration combined with anxiety that accompanies the ongoing digital revolution in healthcare arouses different reactions in various subsectors. For traditionally conservative orthopedics and spine manufacturers, the impact to date has been largely confined to workflow efficiencies and tweaks to their existing businesses. Less certain is how and when big data initiatives will lead to improved patient outcomes–and whether traditional manufacturers or new tech players that are comfortable managing huge volumes of data will take the lead.
These companies are weighing whether and how much to incorporate artificial intelligence (AI)-driven rapid-cycle innovation into their core businesses, and the extent to which AI will drive the value of their innovation going forward versus advances in traditional device design.
MedTech Strategist spoke with the following experts from Health Advances: Jeffrey Abraham, partner and co-leader of digital health and healthcare IT practice, a physical therapist by training; Brandon Wade, a vice president and co-leader of the firm’s digital health and IT practice, as well as the musculoskeletal (MSK) practice; and Masha Dumanis, a vice president, focusing on medtech and digital health, and co-leader of the MSK practice. (The conversation has been edited for length and clarity.)
