The MedTech industry is a broad discipline that accounts for the technologies used for diagnosis, treatment, and patient care. Their prime aim is to improve the overall quality of patient care in the health care sector. And over the years, the health care sector has seen considerable improvements, all thanks to innovation by the medical technology industry.
Sadly, in general, product development faces many challenges, particularly with regulations and compliance issues. However, an ERP system is so crucial in product development, and MedTech companies can also take advantage of it.
However, to implement an ERP system in your business processes is technically complex, and challenging with countless ERP projects failing each year. To avoid the risk of failure it is therefore recommendable to hire a professional ERP Consulting service such as much. Consulting to guide you through the project.
Challenges MedTech company face
Below are some of the common challenges MedTech companies face that an ERP can mitigate:
Process validation hang-ups
It is impractical for the EU and organizations to test every medical device you produce. So, to ensure the devices are of the highest quality and safety standards, regulatory bodies inspect your business quality management system. It is believed that businesses that have a thorough process should produce consistent and high-quality outputs.
While many MedTech often rushes through and skip steps to save money and time, they often end up in process validation hang-ups.
Faulty document control
Proper documentation is crucial in any industry, particularly the health care sector. When documentation is being filled manually, the truth is that they are prone to errors. Faulty document control has cost several medical technology businesses lots of money. And when you fail to comply with the requirements of ISO 9001, you most likely wouldn’t pass an audit.
Without the proper system and tools support, MedTech businesses will find it hard to comply with the constantly changing regulatory requirements. After all, MedTech businesses are pushed by increased pressure to deliver high-quality products at a low cost yet deliver a timely. Hence, they are more likely to run into regulatory issues to improve patient outcomes and surveillance.
Inadequate purchasing control
Sourcing for raw materials and inputs to manufacture medical devices is crucial to MedTech businesses. If any MedTech business fails to source high-quality materials, it wouldn’t be a surprise if that product doesn’t meet standards. To save cost and increase input, many MedTech businesses outsource the procurement of needed supplies.
Sadly, this causes the supply chain to be defective, especially when the MedTech business does not have any system to evaluate and document their supplier efficiently.
How does an ERP system help MedTech mitigate these challenges?
An ERP system can mitigate the challenges highlighted above that MedTech businesses face. Below are why ERP system is so crucial to the MedTech industry:
Documentation and quality control
An ERP system helps MedTech businesses have better documentation. By doing so, they can systematically look back at users’ needs, compare the production process and, in the end, get better quality. If there is any serious gap or omission, an ERP system aiding with documentation will pick it up, thus helping MedTech from getting into audit and regulations issues.
Errors are not made on purpose but are made anyway, particularly when data are inputted manually. As a Medical Technology institution, hiring a professional consulting servicelike much. Consulting will help you automate processes.
Automating processes with an ERP system will eliminate the need for human intervention in data entry, leading to less error. By having fewer errors, you can easily mitigate faulty documentation issues.
Consistency and efficiency
Properly implementing an ERP system is also helpful to medical technology institutions by helping them achieve consistency and efficiency throughout their processes. For example, the MedTech business with an ERP system will have a more standardized process whereby they can avert issues like process validation hang-ups.
With an ERP system in place, workflow is improved; hence, MedTech business can easily coordinate its processes to achieve the best results.
Reduced operating costs
Manufacturers aim to reduce operating costs without compromising the quality in all industries. The MedTech industry is no exception, as an ERP system helps them achieve this effortlessly. An ERP system can help MedTech businesses carry out different tasks such as accounting, human resources, inventory handling, and shared databases.
These processes are carried out automatically, saving the business cost of hiring someone to do them.
Also, an ERP system can help medical technology businesses accomplish key facilities such as patient identification, electronic medical records, emergency services, and electronic medical records, amongst others. In other words, an ERP system streamlines processes making it.