Tag Archives: medical device trends

Crimson Life Sciences Becomes Part of TransPerfect Medical Device Solutions

TP_MedicalDeviceSolutions_stacked_cmykOn Monday, 6/1, Crimson Life Sciences officially becomes part of  TransPerfect Medical Device Solutions. Here’s more information from the client notification:

You may be wondering: why the change? The language and content needs of the medical device industry have evolved significantly over the years, and the TransPerfect family of companies has met those changes by developing a wide range of services and technologies to meet the specific needs of device makers. A majority of our work now rests on integrated solutions that help clients reduce cost and risk through process automation and redesign, including:

  • Process Automation Technology
  • Labeling Automation Solutions
  • Validated XML Publishing Systems
  • Automated Website Localization
  • Software Design, Translation, Verification, and Testing
  • E-Learning Development and Localization
  • And more!

Throughout our 23 years in business, Crimson has come to be known as the most quality-focused translation provider in the industry. Our commitment to this goal has not changed, but our name now reflects our full range of integrated solutions for device makers.

It has been our great honor to work with our clients in the medical device industry for the past quarter-century. We look forward to providing innovative services, technologies, and systems as TransPerfect Medical Device Solutions.

 

 

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Reports of Death Have Been Greatly Exaggerated

For years, the device industry has lamented declining VC investment, leading to a decrease in new-company formation, innovation and the like. Well, to paraphrase the popular Mark Twain misquote, “reports of the death of medical device venture investment have been greatly exaggerated” According to FierceMedicalDevices:

 “This year, medical device venture fundraising could actually increase for the first time since 2007. That’s driven by the increasingly connected healthcare environment. VCs are going wild for digital health, the promise of convergence between our healthcare systems and all the mobile, cloud, wireless and wearable technologies you could possibly imagine.”

 This convergence of multiple disciplines requires a solutions approach to content management and translations – a key reason that EnCompass was created. Different content types require different treatment in translation, e.g. medical resources for anatomical content, computer/IT resources for software-related content…and testing/verification services for the finished device software.

VC investment in the device industry is focused on digital health – and these new software/hardware/network devices require an integrated approach to content management and linguistic QC that spans a number of technologies and disciplines – not just medical/anatomical. Fortunately, TransPerfect Medical Device Solutions has all the services and technologies that you need to ensure linguistic accuracy and system quality and compliance.

“Scots Wha’ Hae” and Radical Localization for Medical Device Marketing Material

‘Scots, wha hae wi Wallace bled,

Scots, wham Bruce has aften led,

Welcome tae yer gory bed,

Or tae victorie.

As a Celtic Studies major in college and one-time resident of Scotland, I’ve watched with keen interest the impending Scottish independence vote. After 300+ years of union, it’s shocking to think this vote is too close to call (with an incredible 95%+ voter turnout). However, it’s also a very good example of the persistence of regional culture and identity in Europe – and underscores the importance of localizing (not just translating) your marketing content.

Marketing messages designed for the US may not resonate (or even translate) into e.g. French, German, or Turkish markets. That’s why many manufactures are now looking at “radical localization” – a complete rewrite of marketing content for local markets – only “guided” by the English original.

Of course, in these instances, it’s important to have a control in place to ensure that the localized material is acceptable from a Regulatory point of view. This is where technology can help: TransPerfect Medical Device Solutions offers clients  validated technology (Translation Review Portal; TRP) for easy, online review and auditable commenting of translated material – there’s even a preview function so you can see your material in formatted context.

If you *do* need to translate your content into EU target languages, TRP also makes a great platform for your overseas contacts to review and comment on translation quality – there’s even a built-in grading and scoring system so you can track results.

So, whether it’s review of translation accuracy or review of “radical localization” for compliance, technology from TransPerfect Medical Device Solutions can help. And, if Scotland *does* become independent and requires Gaelic for labeling, you’ll be ready!  😉

P.S. Although, romantically, I would love to see an independent Scotland, I know from a practical perspective that continued union is in Scotland’s best interest: No thanks!

Medical Device Business “Too Hard”…for Google (?!)

Admitting something is “too hard” isn’t common at Google…but if you go to 28:54 of this video, you’ll hear Sergey Brin and Larry Page explain why medical device/healthcare is one of those areas.

Aside from feeling a little self-satisfied that you’re doing something that’s too difficult for Google, there are other points to consider here. Sure, device regulation is complex and difficult – and sometimes a little capricious and illogical. Still, regulation is meant to protect public health from faulty devices and bad actors – not everyone who makes a medical device puts patient safety first (witness the PIP breast implant scandal).

This is a common refrain from new technology companies: regulation is stifling innovation. The battle between taxicabs and Uber is one example. However, part of the cost of a cab comes from liability insurance – you can sue the cab company if you’re injured – a pedestrian can sue the company if they are struck by a cab…who are you going to sue if you’re struck by an Uber?

Technology companies (and some device companies) see regulation as an unnecessary burden, but many of these regulations are what help keep devices safe and effective. In this respect, a “least burdensome” approach to regulation is desirable – as the inscription above the temple of Delphi read: “Nothing in Excess”

 

 

What Do Walgreens and Medical Device Content Management Have in Common?

WalgreensAnswer: both employ automation to reduce cost. At Walgreens,  software algorithms are being used to help guide and standardize patient treatment. Based on “big data” from over 100 million patients, the pharmacy chain is proving that professional services can be semi-automated with helpful results. You can read about it here.

A similar scenario is playing out in the medical device industry. Manufacturers are learning that they can automate content by structuring it with XML/DITA. The process requires patience and effort (though easier than developing a software system for patient treatment). However, it yields big savings and risk reduction. Starting with the XML systems provided by  Astoria Software and Vasont Systems, and continuing through the translation process automation technologies of the GlobalLink suite, TransPerfect Medical Device Solutions has the services, know-how, and technologies necessary to automate your content and achieve sustainable cost and risk reduction.

“Milder Than Expected” Device Tax Costs 33,000 Med Device Jobs, Impacts 132,000 Others

Advamed_for-web

MassDevice.com was a little schizophrenic in reporting the effects of the medical device tax, as outlined in a striking new Advamed report. According to their first post (2/12) the Device Tax’s impact was “milder than expected”…but their later post (2/18) states that 33,000 jobs have been lost in the industry already. So, what gives?

Well, it turns out that 53% of senior-level respondents had predicted “somewhat negative” or “very negative” effects when, after the fact, 45% actually experienced these negative effects. I guess that’s somewhat milder, but not by much.

At first blush, you might be tempted to say “this is an industry-sponsored report and exaggerated” but the scope of the survey suggests otherwise – responses came from 38 companies, accounting for 40% of domestic medical device revenue…45% had revenue below $100 million, the rest were above.

Other notable negative consequences reported by AdvaMed include:

  • 30.6% said they had reduced R&D
  • 10% said they were relocating manufacturing overseas
  • 58% were considering layoffs if tax is not repealed
  • 50% were considering reducing R&D if tax is not repealed

Not a pretty picture.

Device Growth to Outpace Pharma Through 2018…But Then What?

medical funding

A recent EvaluateMedTech report from Evaluate Group predicts that medtech (4.5% CAGR) will outperform pharma (3.8% CAGR) between now and 2018 – that’s the good news.

The bad news is that VC investment in the medical device industry dropped 17% in 2013 versus 2012….in 2012, VC investment dropped by 13%. A good analysis is available at FierceMedicalDevices.

What does this mean for industry? Considering the time and financial resources required to develop, conduct clinical trials, and commercialize devices, it means that we will be facing a significant fall-off in device innovation in the coming years…which is not great news for long-term industry growth.

The game has changed for devices in recent years – products must now demonstrate value as well as improve the standard of care…new hurdles that introduce investment risks that early-stage VCs seem to be avoiding. Unless new funding sources can be developed (crowdfunding?) the medical device industry, long considered an innovation leader, may become a laggard.