The COVID-19 pandemic has shaken the lives of individuals and rattled organizations across all industries. We know we’re not breaking any news there. But some industries like medtech/medical device, while the severity of disruption manifests at differing levels from niche to niche, have felt the crunch much more acutely.
As organizations contend with a tumultuous economic climate and disrupted supply chains, sales processes, and elective surgeries, many leaders are grappling with serious threats to their business. But the horizon, it seems, may hold some imminent promise.
Last week, the White House set forth new guidelines that allow for elective surgical procedures to resume as part of a broader initiative to gradually reopen the country. This announcement alone was enough for the shares of two of the largest medical device companies to begin to rise.
This news runs counter to the March announcement from the Centers for Medicare and Medicaid to “minimize, postpone or cancel” elective procedures until the current pandemic is fully under control, which acted as the catalyst for drastic dips in elective procedures.
Naturally, fewer procedures mean fewer sales for medical device companies, and the last month saw elective procedures plummet by figures approaching as much as 90% in some countries.
The new federal guidelines are far from a silver bullet. They do, however, serve as a significant first step to enable a gradual ramp-up of procedures and an opportunity for medical device companies to shed pent up volume as patient’s leeriness of entering hospitals and other facilities diminishes.
Healthcare Recruiters International (HCRI)
The healthcare industry changes rapidly, and at HCRI, it’s our job to understand and anticipate those changes to better deliver our specialized hiring solutions. Our team of expert recruiters has forged key relationships within the industry over the years by connecting the top talent in healthcare with great organizations.
If you’re looking for your next high-impact hire or your next opportunity to lead, contact our team at HCRI today.