Isabella Schmitt: How to Create a Competitive Advantage in MedTech During Economic InstabilityView All articles
In Isabella's article in Med-Tech Innovation News she discusses, "How to Create a Competitive Advantage in MedTech During Economic Instability." Isabella outlines the most impactful strategies MedTech companies can do to stay ahead during challenging economic times, most of which they should be doing anyway.
Isabella Schmitt, MBA, RAC, director of regulatory affairs, Proxima Clinical Research and principal, M1 MedTech advises how to navigate turbulent economic times.
During a recession, investment in R&D, the very mechanism for creating innovation and differentiation, is often stifled by companies needing to maintain profits in a rough market and investors being more gun-shy as their dollar doesn’t go as far. One advantage MedTech companies have had historically is the focus on revenues over profits, meaning shareholders are often accepting of companies re-investing in growth strategies to create more products to sell versus focusing intensely on the bottom-line. If this trend remains during this recession, investing in truly disruptive technologies would be beneficial for ManTech investors and strategics alike, as they are more likely to invest in technologies with a moveable pricing scale.
Isabella continue to review the top 7 ways a MedTech company can weather a recession.
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