...Hackensack University Medical Center, part of the Hackensack University Health Network was founded in 1888. It is the best hospital in New Jersey and the third Best Hospital in Metro Area. In the national hospital ranking, Hackensack University Medical Center is one of the Top 50 hospitals in the United States. It is also one of the National’s Largest Cancer Centers, a National-Renowned Children’s Hospital and an Environmentally-Friendly Hospital Designed Just for Women. On April 7th, 2015, under the directions of Dr. Ramnarayanan, we had a trip to Hackensack University Medical Center to see how supply chain is used in the running of one of the best hospital in the United States. In the trip, the Vice-President of Supply Chain Management showed us how the supply chain works in HUMC to help them to improve their work efficiency, and told us about the benefits that the supply chain bring to HUMC. With the new technology used into the supply chain system in HUMC, automating manual processes become possible. Before, HUMC used paper work for the input and output of the medical device from the storage, the statistic of the medical device cost a lot of time and labor. Right now, they use the new technology to make this work much easier. The new handheld device can scan the barcode of each medical device, record the input and output of the medical device at the first time, then, send the data to the computer for statistic. Also, this can help the doctor to order the device. Then, the order...
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...Medical Technology MEDICAL TECHNOLOGY VOL ATILE INDUSTRIES? A SAFE HAVEN for Novumed Spotlight Novumed Spotlight Novumed Spotlight The Benefit of Expansion into Medical Technology financial crisis 2008 2009 2010 2011 Segment comparison at Agilent 2008 - 2011, in US$ M. Source: Agilent annual reports, Novumed Life Science Consulting In 1999, several business units were spun off from global computer technology provider HewlettPackard to form Agilent, with approx. US$ 8 billion in revenues. This spin-off marked the largest initial public offering in the history of Silicon Valley. Initially, Agilent’s revenues came predominantly from the sales of its electronic test & measurement and semiconductor business units. With its strong ties to the communication industry, specifically the internet, Agilent’s stock was valued highly. Despite this high regard, management decided not to focus solely on its core sectors, by creating a life sciences business unit in 2000. A wise decision in retrospect. The life sciences and chemical analysis units now collectively generate half of the company’s sales, and allowed Agilent to remain profitable despite the collapse of the electronic measurement unit’s profits during the financial crisis. As one of many examples, this illustrates the growing importance of the medtech segment, which is gaining attention of industry groups from various sectors. What factors make medical technology so attractive? Which industries...
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...M U M B AI SILICON VALLEY BANGA LORE SINGA P ORE MUMBA I BK C NE W DE L HI MUNICH The Indian Medical Device Industry Regulatory, Legal and Tax Overview March 2015 © Copyright 2015 Nishith Desai Associates www.nishithdesai.com The Indian Medical Device Industry Regulatory, Legal and Tax Overview About NDA Nishith Desai Associates (NDA) is a research based international law firm with offices in Mumbai, Bangalore, Silicon Valley, Singapore, New Delhi, Munich. We specialize in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner. We focus on niche areas in which we provide significant value and are invariably involved in select highly complex, innovative transactions. Our key clients include marquee repeat Fortune 500 clientele. Core practice areas include International Tax, International Tax Litigation, Litigation & Dispute Resolution, Fund Formation, Fund Investments, Capital Markets, Employment and HR, Intellectual Property, Corporate & Securities Law, Competition Law, Mergers & Acquisitions, JVs & Restructuring, General Commercial Law and Succession and Estate Planning. Our specialized industry niches include financial services, IT and telecom, education, pharma and life sciences, media and entertainment, real estate and infrastructure. Nishith Desai Associates has been ranked as the Most Innovative Indian Law Firm (2014) and the Second Most Innovative Asia - Pacific Law Firm (2014)...
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...Substitute products face the same barriers to entry that medical devices face, particularly with respect to long lead times to market and initial capital outlays (Wipperfurth et al., 2010). The emergence of new substitutes will be more gradual as a result than of barrier to entry were lower. Bargaining power of Buyers: Purchasers of healthcare products are physicians, hospitals, nursing homes for the long-term sick and households. Buying power could be classified as moderate within the industry, and it is becoming more and more consolidated where medical reimbursement policies are evolving. On the other hand, they are specific products that are related to the health status of the population and demographic development with more than their current purchasing power. Bargaining power of Suppliers The suppliers to the medical device industry include manufacturing companies included in many sectors. Global markets also allow access to entities on various continents and in differently industrialized economies. It is a large and diverse group of entities which mean that their bargaining power is...
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...Conducting research online to find potential markets was our best option for this project. In order to find potential buyers, it was important to develop a list of criteria that would be used to evaluate countries where Dr. Comfort shoes could be sold. This involved gathering statistics about multiple countries that also had high rates of diabetes. Although the shoes are intended for diabetic patients, they can be worn by anyone who values comfort. With this in mind, we looked into medical channels as well as online channels. The overall focus of our research is on B2B e-marketplaces since they are more cost-efficient and accessible to the company. We also researched the possibility of donating some styles and using liquidators as well. Medical...
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...SUBJECT: DATE: McIntire Investment Institute Michael Nugent, COMM 2010 Election Memo – BDX December 1, 2008 Becton, Dickinson and Company Sector: Healthcare | Industry: Medical Equipment and Supplies | NYSE: BDX Thesis: A global leader in medical devices, Becton, Dickinson and Company presents a long-term investment opportunity for the McIntire Investment Institute because of the resilience of the firm’s sales in economic downturns, the solid performance of the company driven by innovation, the boon that healthcare reform in the United States should provide, and strategic acquisitions. I. Financial Summary Share Price 11/28/08 Shares Outstanding Market Cap LT Debt P/E (forward) 52 Week Range Float Short Interest Avg Daily Volume (3m) Beta $63.53 243.57 million $15.47 billion $955.7 million 11.74 $58.14 - $93.24 241.22 million 1.12 million 1,963,240 0.73 II. Business Overview Becton, Dickinson and Company (BD) manufactures and sells a host of medical devices, diagnostic equipment, and cell analysis products to healthcare institutions, clinical laboratories, and private consumers. Incorporated in New Jersey in 1906, the company is divided into the BD Medical, BD Diagnostic, and BD Bioscience product segments. BD Medical comprises the majority of the firm’s revenues and includes Medical Surgical Systems, Diabetes Care, Ophthalmic Systems, and Pharmaceutical Systems. As the secondary sales-generating division of the company, BD Diagnostic is comprised of the Diagnostic...
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...thought possible. Their medical technologies help make it possible for millions of people to resume everyday activities, return to work, and live better, longer. They are able to do this with the help of some very special people around the world: 38,000 dedicated employees who share a passionate purpose to improve lives, thousands of medical professionals who share their insights and ideas, and hundreds of advocacy associations that help us share information so people with debilitating diseases know relief is possible. MEDTRONIC PURPOSE Medtronic is one of the largest medical technology companies that manufactures implantable biomedical devices, with sales in over 120 countries. The Company treats chronic diseases by offering products including bradycardia pacing, heart failure, atreal fibulation, coronary vascular disease, heart valve replacement, etc. They operate Cardiac Rhythm Disease Management, Spinal and Biologicals, CardioVascular, Neuromodulation, Diabetes, and Surgical Technologies. Medtronic, Inc. was founded in 1949 by Earl Bakken and his brother in law Palmer Hermundslie out of their garage in northeast Minneapolis, Minnesota. They turned their garage into a medical equipment repair shop. They originally wanted to sell basketball pumps since there was a shortage of them in the Midwest during this time. Bakken was a grad student in electrical engineering at University of Minnesota before he gave up his studies to focus on their new company. Bakken...
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...SUBJECT: DATE: McIntire Investment Institute Michael Nugent, COMM 2010 Election Memo – BDX December 1, 2008 Becton, Dickinson and Company Sector: Healthcare | Industry: Medical Equipment and Supplies | NYSE: BDX Thesis: A global leader in medical devices, Becton, Dickinson and Company presents a long-term investment opportunity for the McIntire Investment Institute because of the resilience of the firm’s sales in economic downturns, the solid performance of the company driven by innovation, the boon that healthcare reform in the United States should provide, and strategic acquisitions. I. Financial Summary Share Price 11/28/08 Shares Outstanding Market Cap LT Debt P/E (forward) 52 Week Range Float Short Interest Avg Daily Volume (3m) Beta $63.53 243.57 million $15.47 billion $955.7 million 11.74 $58.14 - $93.24 241.22 million 1.12 million 1,963,240 0.73 II. Business Overview Becton, Dickinson and Company (BD) manufactures and sells a host of medical devices, diagnostic equipment, and cell analysis products to healthcare institutions, clinical laboratories, and private consumers. Incorporated in New Jersey in 1906, the company is divided into the BD Medical, BD Diagnostic, and BD Bioscience product segments. BD Medical comprises the majority of the firm’s revenues and includes Medical Surgical Systems, Diabetes Care, Ophthalmic Systems, and Pharmaceutical Systems. As the secondary sales-generating division of the company, BD Diagnostic is comprised of the Diagnostic...
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...dates of birth, medical IDs or Social Security numbers, street addresses, and email addresses, according to a statement from Anthem president and CEO Joseph Swedish posted on the company website. Employment information, some of which included income data, might also be at risk in the Anthem health data breach.2014-11-13-163188459 “Based on what we know now, there is no evidence that credit card or medical information, such as claims, test results or diagnostic codes were targeted or compromised,” Swedish said. “Once the attack was discovered, Anthem immediately made every effort to close the security vulnerability, contacted the FBI and began fully cooperating with their investigation.” Swedish added that the personal information of Anthem employees, including himself, were also compromised in this data breach. It was a “very sophisticated external cyber attack,” according to Swedish, and despite Anthem’s best efforts and “state-of-the-art information security systems” its IT system was breached. “We join you in your concern and frustration, and I assure you that we are working around the clock to do everything we can to further secure your data,” he said. Anthem will notify the current and former customers who may have had their information compromised, and will also offer free credit monitoring and identity protection services to those who were affected. “I want to personally apologize to each of you for what has happened, as I know you expect us to protect your...
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...value. When doctors began to implement computer systems in their offices, they would print off medical information for the patient to take home to read in order to have a better understanding of the diagnosis given by the doctor. Most times the doctor will have pamphlets that he or she provided to the patient. However, that is mostly a thing of the past. Patients are already armed with tons of information they obtained from the internet. Health care has changed drastically over the years. Advancements in technology played and continue to play a huge role in the ever-evolving delivery of health care. The internet empowers patients in many ways. Sites such as the Mayo clinic allows patients to research their symptoms and even find a specialist. Many health care organizations have patient portals that allow the patient to book appointments and communicate with their physician. However, it is not just patients who use the Internet for health care purposes. Health care organizations use websites and social media such as Facebook to connect with a large demographic of potential patients. Health care organizations can advertise new treatment programs they have available by using Twitter, Facebook, or even YouTube. The Internet is not the only major advancement in technology. There are new technologies such as surgery robots, new magnetic resonance imaging scans, and even new computerized heart monitors. Electronic health record (EHR) systems such as EPIC present another...
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...Operational Plan James Sweeney MGT 601 The Functions of Modern Management Professor Dr. Key Baron Smith July 13, 2015 For the purpose of this paper we are going to assume that the Strategic and Tactical Plans are aligned with the operational plan. The operational plan is then the implementation plan of the Strategic and Tactical plan that has been developed and approved by mid and upper management. The name of the company is Sweeney’s Medical Device Inc. and employees approximately 200 employees and has annual; sales of $90 million.. The company has one manufacturing facility that is located in the United States. The company produces and manufactures medical instruments that are affordable for the medical industry. The following is a brief review of the planning process, vision, mission statement and values of the company are as follows: For a brief review the operational plan can be defined as a plan prepared by a component of an organization that clearly defines actions it will take to support the strategic objectives and plans of upper management. However, to fully understand operational plans, we should first look at the overall planning process within a business. This diagram shows three levels of planning. Type of Plan | Created By | Scope | Includes | Level of Detail | Strategic plan | Top management | Entire organization | Mission of the company, future goals and ambitions | Very broad and general | Tactical plan | Mid-level management | Single...
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...office. In these particular cases we will monitor a patient at home using known devices like blood pressure monitors and transferring the information to a provider is a fast growing emerging service. In my office, we have only one provider by deficiency of professionals and on-call physicians. With the telemedicine are driving the advance of the release of healthcare. The diffusion of medical material through electronic transmission, aid to enhance quality, efficiency of patient comfort, and care. With the use of interaction equipment to connect healthcare practitioners and patients in different locations, will likely help to achieve many of the healthcare reform goals including: growing cost efficiency; rising patient access to specialists and, enhancing interaction among providers. What will you do to guard against rapid obsolescence? Current’s office technologies can modify quickly; you can improvement your equipment anytime by changing your lease. The benefits of lease and financing are support to protect product obsolescence, and gives ability to take benefit of the newest product technology. Organization need to plan for technological modification and have tactics in place for relocation, alteration or reformatting. To can deal with the threat of technological obsolescence, the firm should try to join new capabilities and functions. Not so much substitute but to pursue the combination of new features that the previous system did not provides. The technology...
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...BUSINESS DECISION MAKING INTRODUCTION Johnson and Johnson is an American multinational company founded in Brunswick ,New Jersey in 1886 by American entrepreneur Robert Wood Johnson. It manufactures pharmaceuticals, medical devices and consumer products. J&J and its subsidiaries have operations in over 60 countries and sell their products in over 175 countries. Today, it employs 120,000 people worldwide. They are the world’s second largest manufacturer of health care products and the largest developer and manufacturer of medical treatment and diagnostic devices. Is the second revenue earner for the company, focuses on medical needs in cardiovascular, metabolism, immunology and oncology Medical Devices and Diagnostics Is actually the smallest division but include some of them most well know products Prescription Products Consumer Products EXECUTIVE SUMMARY Is the largest segment producing medical equipment, surgical systems and devices LISTERINE, NEOSPORIN, NEUTROGENA, SPLENDA, BAND-AIDS, TYLENOL,VISINE, ACUVUE, ONETOUCH, JOHNSON'S BABY PRODUCTS (LOTION, SOAP, SHAMPOO) COMPETITIVE ADVANTAGE Strong branding and customer loyalty Patient protection Diversification in research and development of new products A single focused business segment in healthcare Company structure / Management approach EXTERNAL & INTERNAL ENVIRONMENTS Consumer bargaining power Threat of entry Threat of substitutes Competition...
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...BUSINESS DECISION MAKING INTRODUCTION Johnson and Johnson is an American multinational company founded in Brunswick ,New Jersey in 1886 by American entrepreneur Robert Wood Johnson. It manufactures pharmaceuticals, medical devices and consumer products. J&J and its subsidiaries have operations in over 60 countries and sell their products in over 175 countries. Today, it employs 120,000 people worldwide. They are the world’s second largest manufacturer of health care products and the largest developer and manufacturer of medical treatment and diagnostic devices. EXECUTIVE SUMMARY Consumer Products Prescription Products Medical Devices and Diagnostics Is actually the smallest division but include some of them most well know products Is the second revenue earner for the company, focuses on medical needs in cardiovascular, metabolism, immunology and oncology Is the largest segment producing medical equipment, surgical systems and devices LISTERINE, NEOSPORIN, NEUTROGENA, SPLENDA, BAND-AIDS, TYLENOL,VISINE, ACUVUE, ONETOUCH, JOHNSON'S BABY PRODUCTS (LOTION, SOAP, SHAMPOO) COMPETITIVE ADVANTAGE Strong branding and customer loyalty Patient protection Diversification in research and development of new products A single focused business segment in healthcare Company structure / Management approach EXTERNAL & INTERNAL ENVIRONMENTS Consumer bargaining power Threat of entry Threat of substitutes Competition / Rivalry • The largest risk is the...
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...highlights in its recent publication related to privacy: “Breaches of an individual’s privacy and confidentiality may affect a person’s dignity and cause irreparable harm” and “[unauthorized disclosures] can result in stigma, embarrassment, and discrimination.” IOM: Beyond the HIPAA Privacy Rule—Enhancing Privacy, Improving Health Through Research, February 4, 2009” 1. So Many Mobile Devices, So Much Risk Mobile devices are ubiquitous in today's society, and the number and types of devices used by physicians, nurses, clinicians, specialists, administrators and staff – as well as patients and visitors – is growing at healthcare organizations across the country. Providing anywhere/anytime network access is essential, particularly when instant communication is required to ensure quality patient care. But these devices are launched daily with upgraded versions of operating systems that are ripe for infection. 2. Embedded Devices Become the Norm As tablets and mobile devices with wide-area network and Wi-Fi capabilities – including medication scanners, patient-monitoring systems and imaging devices – become more common, embedded connectivity makes tracking, monitoring and managing enterprise...
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