Page 3 - Medical Technology
Pay-per-use the new model for med-tech firms in India
Medical technology start-ups are beginning to shift to a pay-per-use model for their diagnostic devices as they look to gain acceptance in a crowded Indian market.These start-ups have been able to convert hospitals and clinicians into customers with the lure of not having to make a large initial investment to buy the device, but only smaller monthly payments. Several med-tech start-ups are now switching to a pay-per-use model, with TRICOG, Cyclops and BPL being among those that have seen some initial success.While Bengaluru-based Cyclops' device that can diagnose vertigo based on eye expression costs half as much as imported devices, the company found more takers for its subscription model. Also, since the data collected through tests were now accessible to Cyclops, it is now focusing on early detection rather than diagnosis."For a start-up to offer a pay-per-use model, the advantage is that the access to the data remains with the company. When I have all the data, it is much easier to
Medical technology majors bat for ease of norms to import refurbished equipment
While pre-owned equipment can work for 7-10 years, the environmental regulations in India makes it difficult to import, says industry body
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Australian university to provide medical technology to India
Swinburne University signed two MoU to partner with major Indian healthcare providers.
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