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Medtronic CEO: Value-based healthcare is the only way to save medtech

Mon, 01/13/2014 - 6:35pm
Mass Device

Medtronic CEO Omar Ishrak tells MassDevice.com that medtech must embrace value-based healthcare if it wants to escape the death spiral of commoditization.

There's been a lot of hand-wringing in medtech as healthcare systems around the world have moved from fee-for-service to value-based healthcare models that reward for outcomes, rather than for specific procedures.

But for Medtronic (NYSE:MDT) CEO Omar Ishrak, value-based healthcare is the salvation, not the damnation, of the medical device industry.

Speaking today at the J.P. Morgan Healthcare conference in San Francisco, Ishrak told MassDevice.com that embracing the shift to value-based healthcare is not only critical for medtech, but for its hospital customers as well.

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