Medical equipment manufacturers develop and produce medical products for commercial and individual customers, with extensive research and development. They can increase sales through educational programs and advertising, and revenue often comes from institutional sales. Some products are sold to individual consumers through certified resellers.
A medical equipment manufacturer generally develops, produces and services medical products for commercial and individual customers. The typical manufacturer is involved in extensive research and development for the next generation of medical equipment. These products may advance from the factory to physician offices and point of sale in some cases after extensive quality review and field testing. Manufacturers can increase sales through educational programs and advertising to target audiences. The final step for medical device manufacturers is to deliver the device to an institutional customer or other location.
Research and development in the medical device industry requires years of investment. The industry can generally be divided into general manufacturers and niche companies. A general manufacturer will develop hundreds of medical products, from hearing aids to MRI scanners, to reach a larger customer base. Most niche companies may be dedicated to product development for a specific disease, medical specialty, or procedure.
The research and development process can produce medical equipment that will be useful for public health. This equipment is released to hospitals and professionals only after significant testing. Many manufacturers have multiple layers of quality assurance testing to prevent defective parts and poor performance. Sometimes prototype medical equipment is distributed to doctors and health clinics for use in a controlled environment. A medical equipment manufacturer might also host demonstrations of its latest products at technology conferences and expos.
The path from field testing to wide distribution can also be paved with public education programs. These programs may include presentations at medical conferences attended by physicians and hospital administrators. Another educational tool for a medical equipment manufacturer can be special inserts in health magazines and medical journals. Another approach to educating the public about medical equipment is through large-scale television and radio advertising.
A major source of revenue for a medical device manufacturer often comes from institutional sales. A regional hospital might purchase EKG machines, wheelchairs, and ventilators from a medical equipment manufacturer. A manufacturer may also sell its equipment to nursing homes, health clinics, and doctors’ offices. Institutional customers often request installation and repair services from their medical equipment suppliers. The manufacturer typically sends maintenance crews on regular routes to handle equipment maintenance and repairs for its customers.
Certain products may be sold to individual consumers through certified resellers. These retailers often receive the manufacturer’s sales and service training necessary to serve their customers. An individual who needs a heart monitor or blood pressure monitor, for example, can purchase these products and service plans at a local certified retailer. Many medical device manufacturers have reduced expenses by selling certain products directly to customers through online stores.
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