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Month: March 2017

In healthaffairs
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Medical equipment costs are growing leaps and bounds.  Diagnostic centers, clinics and hospitals are looking at more pocket friendly approaches in order make it less burdening for them.  The cost of an MRI machine is $150000 – $300000.  The above cost does not include transport charges and installation & maintenance charges.  Refurbished medical equipment market has been a great boon for users that make the equipment purchase less burdening.  Refurbished medical equipment is a highly grown market with an estimate to reach 11.91 billion USD by 2021.

Products that fall under the category of ‘refurbished’ may include those that were used in field tests, demonstrations and sales display.  Those products that were returned for reasons other than defect and were tested by manufacturer.  Those products that were returned by customer due to a damage caused to the package or item during shipping.  Products that were leftover and sold to refurbisher by a downsized company.  Since all the products will be tested by the manufacturer before selling, refurbished products can be safely purchased by buyers without any hesitation on the product quality of functioning.

Some of the major factors that are influencing the increased sale traffic of refurbished medical equipment are increased privatization in the healthcare sector, poor government reimbursement for subsidies for various medical treatments, increased patient population base etc.  The huge opportunities for growth and revenue has attracted large number of multinational medical equipment manufacturing companies to play an active role in this segment of the market. Leading players such as Philips Healthcare, GE Healthcare and Siemens Healthineers have established refurbishment facilities in both mature and emerging markets that are further adding to the growth prospects of these markets.  However, few drawbacks in this market are stringent regulatory environment in countries such as China, Kuwait and lack of standardization of policies related to sale and use of refurbished medical devices

Analysis of refurbished medical equipment market indicate that equipment associated with radiation oncology systems, biotechnology instruments, minimally invasive devices and diagnostic imaging equipment have huge demand in the market.  The diagnostic imaging equipment such as X-rays, mammography MRIs and CT systems have accounted for 75% of the total market share.  Refurbished medical equipment can be highly reliable and can offer significant savings to the medical facility.

Even though there are multiple benefits associated with the usage of refurbished medical products, cost savings, quality products, customer service and reliability can be seen as the main benefits associated with the usage of refurbished medical products.  When a product with the label ‘refurbished’ is bought from a reputed medical equipment company, users can be rest assured that the product has been thoroughly tested and is made safe and reliable for usage.

There are umpteen number of portals online for buying and selling refurbished medical equipment.  However, a very handful of them run with interests of consumers taking into consideration.  Major players such as Stryker India have their own dedicated online portals such as usedstryker.com to handle refurbished medical equipment.  Other players include Medicomart and Mediamart.  Medventura, a unique online platform created by highly trained and dedicated professionals is truly innovative in every aspect of it.  Being run with best interests of consumers, the platform has category wise listing of products grouped into equipment and consumables.

The platform facilitates business to business and business to consumer sales.  Its wide reach of target audience is an added advantage.  The option for manufacturers to advertise the products

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In healthaffairs
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With the advances in science and technology, medical field has seen significant growth.  Precision and accuracy are the latest buzz words in medical field.  Gone are the days where doctors have to either rely on information from patient or by their physical examination while diagnosing a disease.  In this new age, doctors heavily rely on medical equipment which provide precise and accurate information about the disease or the medical condition of a patient.  Advances in science made it possible to increase the efficiency of medical equipment.  These changes in the efficiency are clearly noticeable from as small a device as stethoscope to as big a machine as CT scan.

Internal infection because of various medical conditions or anatomical damages to human body were difficult to identify and pinpoint until a few decades back.  But thanks to the CT scanners, the job of doctors has been made much easier.  A CAT scan or CT scan produces cross-sectional images of a specific area with computer-processed combinations of multiple X-ray images taken from different angles as source.  These images provide the ability to see the inside of an object or body part without the need to cut the body part or object

The precise, accurate and clear information a CT scanner provides made its usage significantly increase over the last two decades in many countries across the world.  In the year 2007, in US alone, a staggering number of 72 million scans were performed with the help of CT scanner.  The use of CT scan is not limited or restricted to any part of the body.

View more CT Scanner
ct scanner

It can used to diagnose various diseases that fall under cardiology or neurology or pulmonology.  There are multiple benefits associated with CT scan.  CT scan provides the ability to capture only the area of interest as part of the image by eliminating the superimposition of images of structures that are not part of area of interest.  A CT scan images are of high-contrast resolution which translates into the ability to differentiate between tissues with a difference in physical density by less than 1%.  Multiplanar reconstruction is the most important benefit wherein a volume of image is built by stacking the axial slices.  Multiple other 3D rendering techniques such as surface rendering, volume rendering and Image segmentation increase the image quality.

The increasing growth of CT scan market has having the reverse effect on the X-ray market which is getting phased out gradually.  This trend of increased growth of CT scan market having a diminishing effect on X-ray is more evident in developed markets such as US and Western Europe.  In emerging markets such as India, Russia and Israel etc., the growth potential for CT scan market is very high.  This is due to the fact that X-ray machines are still extensively used among the emerging markets.  Governments across the emerging markets have realized the importance of a nation with healthy population.  This has led to increased budgetary spending in healthcare industry in the emerging countries.

CT scanners

CT scanners are extensively used in imaging centers, hospitals and clinics.  Currently, 16 and 64 slice scanners enjoy great deal of popularity among the service providers.  However, 320 scanner systems are also available.  Some of the dominant players in the CT scan market include Toshiba Medical Systems, Siemens, Trivitron Technologies, Philips Healthcare and GE Healthcare.  These major players in their economic interest to grab the market are also investing heavily in their R&D in order to bring more and more enhanced features with their products.  As we advance in science and technology field, we can be assured that CT scanners will come with innovative, safe and enhanced features that make the job of diagnosing a disease by doctor a cake walk.

read more article : Emerging trends impacting Global MRI Systems

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In healthaffairs
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A metabolic disease in which there are high blood sugar levels during a prolonged period of time is diabetes.  Most commonly, Diabetes is of two types which is Type 1 Diabetes and Type 2 Diabetes.  When pancreas fails to produce enough insulin, it may result in Type 1 diabetes.  Type 2 diabetes starts with insulin resistance.  This could be a result of excessive body weight and lack of exercise.  Some of the chronic diseases such as Diabetes result in other body organ complications such as cardiovascular diseases.  About half of the patients with Type 2 diabetes may die of cardiovascular disease.

ECG or Electrocardiography is the process of recording electrical activity of heart over a period of time through the electrodes placed on the skin.  Hospitals and diagnostic centers use ECG to assess patient’s heart rhythm, diagnose poor blood flow to the heart muscle or the condition which is called Ischemia.  It can also be used to diagnose abnormalities of heart including heart chamber enlargement and abnormal electrical conduction.

SIX CHANNEL ECG MACHINE

The six channel ECG machine is an automatic ECG measurement system with complete digital design, digital filtering and auto gain.  There has been a significant development in new medications in the past year 2016.  Two medications require a special mention here as they began to reduce the mortality rates considerably.  Empagliflozin works with the kidney and modifies the progression of heart disease.  Liraglutide has a comprehensive effect on many organs.  Thus these diabetic drugs seem to reduce the cardiovascular disease and death because of the disease.

Above is just one example of latest trends in medical technologies.  Science and technology is still evolving and growing leaps and bounds.  Technology solutions belonging to other industries seem to greatly influence the healthcare industry.  The wearable industry is one such industry which has greatly integrated with healthcare.  Various states of human body is being tracked and monitored with the help of wearables.  Some of them include the heartbeat, pulse rate etc.  Present days smart watches also have the ability to track the activity the individual has undergone over a period of time and also provide the number of calories an individual has exhausted as part of the activity.  Some of the companies have made a tie up with medical specialists where the individual’s health and activity is regularly monitored with the help of smart watches the individual is wearing.

healthcare industry

Medical industry is taking leverage of IT to provide new and innovative solutions that were unimaginable of a few decades back.  EHR or Electronic Health Records is the process of maintaining patient’s full medical and treatment history so that it is accessible by doctors or patient wherever they have access to internet.  This is still in its nascent stage but its practice is gaining momentum rapidly.  Medical industry especially the organ transplant field seems to be greatly getting benefited from the 3D printing technology.  Organ transplant operations are expected to become more scalable with the help of 3D printing technology.

Telemedicine is another new field of medical science that is rapidly picking up the pace.  It is not always possible for a patient to be physically available in front of the doctor for diagnosis.  Factors such as his medical condition, personal commitments, professional commitments and distance can be a major hurdle in paying a visit to doctor. Telemedicine is a great boon that facilitates the diagnosis of patient’s condition without the need for the patient to be physically present in front of the doctor.  This technology has a great potential as it can reduce the distance between doctor and patient and provide world class health care in remote areas.

read more article : What is the medical equipment and Types of medical equipment ?

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In healthaffairs
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Gone are the days when surgeons had to cut open human body to understand the anatomy and physiological processes of human body in both health and disease.  The latest in science and technology has made it a reality to examine the physiological processes and anatomy of human body without a single cut.  MRI or Magnetic resonance imaging is an imaging technique that falls under radiology with the help of which pictures of anatomy or physiological processes can be formed.  Radio waves, strong magnetic fields and field ingredients may be used to generate these images.

MRI scanners are considered superior to X-rays and CT scanners.  Some of the risks that come associated with the use of MRI scanners is people need to go into a tube kind of structure apart from bearing the louder sounds.  This can be quite a discomfort for people who are claustrophobic.  Also, MRI scanners may take more time when compared to CT scanners to generate the image.  Further, people with medical implants and other metal implants may not be able to undergo MRI scan safely.

MRI falls under the science of nuclear magnetic resonance.  Some atomic nuclei have the ability to absorb and emit radio frequency energy when placed in an external magnetic field.  When it comes to clinical and research MRI, hydrogen atoms are the most commonly used in order to generate a radio-frequency signal that is detectable and which can be received antennas that are placed in close proximity that is put under examination.

View more MRI
MRI

The advantage of using hydrogen atoms here is that they are abundantly present naturally in humans.  Water and fat present in humans have increased concentration of hydrogen atoms.  Radio wave pulses excite the energy transition nuclear spin with magnetic field gradients localizing the signal in space.  The parameters of pulse sequence can be altered thus generating different contrasts between tissues which are dependent on the relaxation properties of hydrogen atoms.  Widely used in clinics and hospitals, this equipment is critical in medical diagnosis, disease staging and follow-up.

Various specialty departments of medicine such as neuroimaging, cardiology and gastroenterology use MRI.  MRI is the choice of tool in order to perform investigation for neurological cancers.  Higher resolution and better visualization technique make it the most preferred tool.  MRI scans provide high contrast resolution images of grey and white matter and hence it stands out to be the obvious choice for many disease conditions such as dementia, epilepsy and other infectious diseases.  In cardiology, cardiac MRI is widely used as a complementary to other imaging techniques.  It is extremely helpful in the assessment of serious heart ailments such as congenital heart disease and cardiomyopathies etc.

By 2021, the MRI market is expected to reach USD 7 billion by 2021.  Top MRI manufacturers include, GE, Philips, Hitachi and Siemens.  The MRI market has become extremely competitive with vendors adopting various strategic initiatives both on the business end as well as on the research side.  On the business front, companies adopting merging and acquisition strategies in order to make their presence across the globe and also to make entry in new markets.  On the research front, manufacturers such as Philips have launched MRI/PET imaging systems into the market.  These systems without ionizing radiation combine functional imaging data and anatomical imaging to deliver high quality soft tissue characterization.  Besides the above listed factors, some of the MRI System Market Drivers are emergence of hybrid imaging technologies, advent of MRI-compatible pacemakers and development of superconducting magnets.  With so many advantages, the MRI scan definitely takes a more preferential tool position among the medical community for disease diagnosis and health assessment.

Read more article :  An MRI Scanner buying guide

 

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In healthaffairs
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Humans are pushing the threshold of medicine in their quest to live a disease free and healthy life.  The research in the medical field has led to invention of various tools or medical equipment to aid diagnosis and to treat medical conditions.  Stethoscope is a best example to this.  What started as a small invention consisting of a monaural wooden tube has evolved greatly over the period of time. Some of the present day stethoscopes are electronic stethoscopes that can overcome the low sound levels of body by electronically amplifying the sounds.

Today, the medical industry is highly evolved and it has different departments under its umbrella.  The life support equipment that includes incubators, anesthetic machines, ECMO and ICU Ventilator etc. are used to maintain a patient’s bodily function.

Read more about ICU Ventilator
ICU Ventilator

The treatment equipment may include LASIK surgical machines, medical lasers and infusion pumps etc. Diagnostic equipment includes medical imaging machines such as MRI machines, ultrasound machines and X-Ray machines etc.  These kind of medical equipment are used in clinics, hospitals and diagnostic laboratories.  Diagnostic Medical Equipment such as equipment for the control of diabetes may be used in home.

The industry of medical consumables in India is having a steady growth.  Valued at USD 3.5 billion in 2015, it may expand to USD 4.8 billion by 2019.  The growth numbers undoubtedly attract foreign manufacturers who are actively being part of the Indian medical equipment market.  India has skilled man power in the medical industry and hence it has become a preferred medical tourism destination with people from foreign continents visiting India to address their health needs.  The medical tourism industry is projected to grow $7-8 billion by the year 2020.

Medical tourism industry in India has witnessed large number of people from US and UK.  People from neighbouring countries such as Bangladesh and Afghanistan are not left far behind.  People from CIS countries, Russia and the African continent also accounted for a large portion of numbers.  There is a great deal of demand for cancer diagnostics, orthopaedic and prosthetic equipment and electromagnetic equipment.  Some of the factors that are playing a key role in attracting good number of medical tourists to the country include cost, ease of travel, quality of care and language.

Medical tourism industry

Treatment costs in India start at one tenth of the price at which people are treated in US or the UK.  Specialties related to eye, heart and hips have been the major medical departments that witnessed significant number of foreign patients.  Indian has 28 JCI or Joint Commission International accredited hospitals.  JCI accreditation is a significant milestone for a hospital.  In US, majority of the states recognize JC accreditation as a condition of licensure.  The government of India has removed various restrictions on visa by implementing measures such as visa on arrival thus playing its role in increasing the number of visitors from various foreign countries

Corporate companies and startup companies are cashing the opportunity of demand that the increased medical equipment supply has created.   Companies are finding various avenues to fill the demand and supply gap.  Recent startups such as Medventura have created an online platform wherein buyers and sellers can interact with each other & find best hospital medical supplies.  The manufacturers/sellers can market their products by listing them on the site.  Interested parties can create an account, login into the site, review the description of the equipment and indicate their interest in purchase to the buyer.  The site provides a unique platform that benefits all the players.  Platforms such as these are gaining momentum as they provide a seamless experience for both buyers and sellers wherein buying and selling are no more a tedious job.

Read  more article :  Refurbished Medical Equipment

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No action will be taken against hospitals under the scanner for overcharging on stents if they refund the money to patients before receiving a demand notice, drug price regulator NPPA said. The country’s drug pricing regulator has said.

 

The National Pharmaceutical Pricing Authority (NPPA) said the matter would end there for such hospitals if there were no further complaints.

“If the hospitals under the scanner refund money to patients before NPPA issues ‘demand notice’, matter ends till there is no new complaint,” the regulator tweeted.

Explaining that a ‘show cause notice’ (SCN) is issued for seeking the explanation of the hospital/company, it added that a ‘Demand Notice’ (DN) is issued when a violation is proved.

The regulator also said “it would ensure complete audit of their angioplasty bills in the near future” but did not share details citing “request of patients who have got refunds and their concerns of follow up need in the same hospitals“.

The NPPA had said yesterday its helpline has received complaints against Oxygen Hospital in Rohtak, Haryana and Bharat Heart Institute, Dehradun, Uttarakhand for overcharging on stents.

The regulator had earlier issued show cause notices to Max Hospital, Saket, New Delhi and Nidaan Multispeciality Hospital, Sonepat, Haryana.

It had also said it was investigating overpricing complaints against hospitals such as Lilavati Hospital (Mumbai), Max Saket (New Delhi), Metro Hospital (Faridabad), PGI Chandigarh, Ram Murti Hospital (Bareilly), and has alerted the concerned State Drug Controllers.

However, Max Healthcare and Lilavati Hospital have said they are in compliance with NPPA guidelines and have not overcharged patients for stents.

In a major relief to patients, the NPPA last week slashed prices of coronary stents by up to 85 per cent, capping them at Rs 7,260 for bare metal ones and Rs 29,600 for the drug eluting variety.

Source : Moneycontrol

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