The Future of Medtronic
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The Future of Medtronic –Medical Technology Company
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Medtronic is a global healthcare technology lead in designing and selling of medical
equipment. The company is committed to relieving pain, restoring health and extending life of
patients which helps it goals align with those of the braider healthcare industry (Medtronic
2020). Medtronic technology advancement is expected to grow as healthcare shifts towards the
use of surgical robotics. Recent data reveals that only 5% of surgical procedure is done by robots
and there is projection that this number will grow as Medtronic makes technology advancement
(Medtronic 2020). The company is strategically positioned in medical technology sector where it
focuses on various healthcare segments and aligns it objectives to fit those of global healthcare.
First prediction is that Medtronic is expected to strengthen its technological hegemony in
medical sector and venture into rising technologies like the use of AI-based assisted diagnostic
and surgical robotics (Medtronic. ,n.d.). Medtronic is a company that has invested and is
committed too it technological innovation so it is expected that there output in this sector will
grow bring more profit to the company. The company has aligned itself with the broader trend of
technology that is shaping the future of healthcare so they will not be outdone by the
emergencies technologies but will be able to integrate them into producing quality, world-class
medical equipment (Medtronic. ,n.d.). As per their vision, the company will grow over the
decade to be a leader in developing and implementing personalized healthcare solutions
(Medtronic. ,n.d.). This is thorough offering the most technologically advanced medical
equipment. Medtronic through it vigilant innovation will be able to evolve and interconnect
ecosystems of it devices like pacemakers and continuous glucose monitoring systems to provide
individualized real-time data that will help physicians plan more personalized care (Medtronic.
,n.d.). Such technological advancements will help the healthcare create quality treatment plan
that are specifically to the patient rather than generalizing.
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The second prediction is that Medtronic will be able to strategically address workforce
challenges by investing in digital health literacy which will empower it workforce. Medtronic
will recognize the evolving nature of healthcare in a few years which they will tackle by adapting
to the changes and promoting continuous learning (Stoumpos et al., 2023). The company will
conduct an assessment to determine the digital health literacy of it workforce which will enable it
to fill in the gaps in terms of knowledge and skills.
Being a medical technology company,
Medtronic will invest in tailored digital literacy programs that will enable it to remain relevant
and competitive in the market.
It will design programs like data analysis, research and
development and cyber security awareness that will enable its workforce to adapt to specific job
function (Stoumpos et al., 2023). Medtronic will partner with educational institution to provide
digital literacy for learners who will become future workforce for the company .The healthcare
world is continuous evolving to include more digitalized procedures, so it will be important for
Medtronic to provide continuous learning platforms to its employees to enable them to stay
relevant. The company will encourage collaboration with healthcare providers and policymakers
which will enable them to stay up to date with latest development (Stoumpos et al., 2023).
The
strategic address of digital literacy will enable Medtronic to manufacture quality devices that are
relevant to the healthcare market.
The third prediction is that Medtronic will play a transformative role in addressing global
health disparities and making healthcare more equally accessible (Medtronic, n.d.-a).
Medtronic
will form strategic partnership with government and non-profit organizations as well as
healthcare providers to promote accessibility of healthcare technologies to patients in all
geographical areas (Medtronic, n.d.-a). This will help provide these technologies at an affordable
rate and ensure care offered is tailored to fit the community needs. Medtronic will strive to
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develop telemedicine outreach programs that will provide needed healthcare technology even in
remote areas ensuring patient allover get same quality care. The company will strive to address
healthcare disparities by implementing affordable pricing models for their devices (Medtronic,
n.d.-a). This means that the advanced medical devices will be afforded by low income regions
which in turn will bring more business. The company will help bridge the disparities by training
healthcare professions on how to use its various technologies which will empower them to
deliver quality care to patients.
Medtronic will collaborate with the communities to understand
their culture and social norms that contribute to healthcare disparities, then the company will
implement initiatives that march these cultures.
The company will also collect data in areas
where healthcare accessibility and quality is low; they will then understand the problems and
tailored solutions that address these problems (Medtronic, n.d.-a).
Medtronic will also get
involved in more philanthropic works to promote equality in healthcare provision of funds that
can help kick start and support ongoing initiatives to improve healthcare quality.
Medtronic will take a bold step to be involved in shaping healthcare policies in effort to
boost income and also promote access to healthcare technologies.
The company will be
influential in regulatory frameworks by working closing with the healthcare system (Medtronic,
n.d.-a).
Advocating for policies that aim for equality in healthcare will help Medtronic to
continue to be a leading company in medical care technology design and distribution (Medtronic,
n.d.-a). It will place the company on the map as a global leader in promoting equity of
healthcare. This will not only increase it business but the overall longevity of the company.
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References
Medtronic. (n.d.).
Personalizing healthcare through technology
.
https://www.medtronic.com/us-
en/our-company/personalizing-healthcare-through-technology.html
Medtronic. (2020, July 16).
Extraordinary outcomes, extraordinary value2
.
https://www.medtronic.com/us-en/our-company/population-health-value-based-healthcare-
solutions.html
Medtronic. (n.d.-a).
Medtronic Perspective: Collaborating to improve Global Health Access
.
https://www.medtronic.com/th-th/transforming-healthcare/global-access-perspective.html
Stoumpos, A. I., Kitsios, F., & Talias, M. A. (2023). Digital Transformation in Healthcare:
Technology Acceptance and its applications.
International Journal of Environmental
Research and Public Health
,
20
(4), 3407. https://doi.org/10.3390/ijerph20043407