Medical device makers face challenge of falling prices

4aa6d3256b362e29630f6a7067001fb0_c0-81-2600-1596_s885x516At a time when U.S. health care costs have been rising faster than inflation, the prices for many medical devices have been dropping.

Included in the price declines are devices that helped build companies that employ tens of thousands of Minnesota workers.

Key changes are driving the trend. The hospitals that buy most of the implantable medical devices in America have grown wary of incremental improvements long used by device makers to prop up prices on pacemakers, defibrillators and the like.

And in a reverse of another long-standing practice, medical device makers are finding it much harder to rely on physician brand loyalty to drive purchasing decisions.

Major med-tech corporations have responded by buying emerging companies with hot products that can still command premium prices, like heart valves implanted via small tubes that can cost four times as much as traditional valves.

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About Peter Coffaro 1149 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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