Insights from a Chief Medical Officer – Top Priorities Heading into 2025

Key insights for medical device, diagnostics and digital health companies from a leading hospital’s chief medical officer (CMO)

As the healthcare system adapts to new challenges and opportunities, MedTech and digital health commercial leaders must stay attuned to hospitals’ shifting priorities. Understanding key market trends is essential for MedTech and digital health companies to effectively align their go-to-market (GTM) strategies.  

The following are insights from a CMO who has been leading a >500 bed hospital for eight years and is part of a national IDN. We intended to understand his top priorities and how MedTech and digital health companies can help achieve them. We discuss his priorities and the primary drivers of their strategic plan: market share gain in target therapy areas, cost containment and retention. MedTech and digital health companies should be aware of these priorities and adapt their go-to-market models to help achieve them.

Current Priorities 

These priorities are not only essential for maintaining operational efficiency but also for ensuring the long-term sustainability of healthcare services. 

Market share growth in neuroscience, cardio thoracic and orthopedics is a multifaceted priority driven by several key factors: 

• Recruiting Providers: Attracting skilled healthcare professionals is fundamental to expanding services and meeting patient needs. 
• Establishing Name Recognition and Branding: Building a strong brand helps in attracting patients and providers alike, enhancing the facility’s reputation. 
• Streamlining the Regional Transfer Center Process: Improving the efficiency of patient transfers within the region ensures timely and effective care. 

Cost containment is another critical focus area: 

• Eliminating Traveler and PRN Positions: Reducing reliance on temporary staff helps in controlling labor costs. 
• Adjusting Fair Market Value: Ensuring that compensation is competitive yet sustainable is key to financial health. 
• Establishing Relationships with New Employees: Building strong relationships with new hires fosters loyalty and reduces turnover. 

Retention of staff is vital for maintaining continuity of care and reducing recruitment costs: 

• Reducing Turnover: Implementing strategies to keep staff engaged and satisfied is essential.
• Increasing Reliance on Advanced Practice Providers (APPs): Utilizing APPs effectively can help in managing workloads and providing high-quality care.
• Providing Education and Training: Continuous professional development opportunities are crucial for retaining top talent.

Future Evolution of Priorities 

As we look ahead, these priorities are expected to evolve, influenced by technological advancements and changing healthcare dynamics. 

Market share growth will increasingly be driven by: 

• Adoption of New Technologies: Integrating cutting-edge technologies such as AI and predictive modeling will enhance diagnostic and treatment capabilities. 
• Expansion of Freestanding Emergency Rooms: These facilities will play a significant role in capturing market share and driving emergency department (ED) volume. 
• Development of Specialized Programs: Initiatives like the robotic heart program will attract more patients and providers, advancing the facility’s service lines. 

Cost containment strategies will evolve to include: 

• Leveraging Technology for Efficiency: Automation and AI can streamline administrative processes, reducing operational costs. 
• Optimizing Resource Allocation: Data-driven decision-making will ensure that resources are used effectively, minimizing waste. 
• Enhancing Supplier Relationships: Strategic partnerships with suppliers can lead to cost savings and improved service delivery. 

Retention efforts will focus on: 

• Creating a Supportive Work Environment: Fostering a culture of support and recognition will enhance job satisfaction. 
• Offering Career Advancement Opportunities: Clear pathways for career growth will motivate staff to stay long-term. 
• Investing in Well-being Programs: Addressing the physical and mental well-being of staff will reduce burnout and turnover. 

Opportunities for MedTech and Digital Health Companies 

To align with these evolving priorities, MedTech and digital health companies must focus on several key opportunities: 

Adoption of New Technologies:

• AI in the Emergency Room: Implementing AI solutions can improve patient triage and outcomes. 
• Predictive Modeling: Using predictive analytics to manage length of stay can enhance efficiency. 
• Robotic Assisted Surgery: These technologies continue to improve precision and outcomes in surgical procedures. 

Expansion of Freestanding Emergency Rooms:

• Capturing Market Share: Offering innovative solutions to support providers in freestanding ERs can help facilities attract more patients. 
• Driving ED Volume: Technologies that streamline ER operations can increase patient throughput. 
• Increasing Subspecialty Referrals: Solutions that facilitate referrals to subspecialists can enhance patient care and facility revenue. 

Development of a Robotic Heart Program:

• Advancing Minimally Invasive Surgery: Providing cutting-edge robotic surgery tools can position facilities as leaders in cardiac care. 
• Enhancing the Cardiothoracic Service Line: Innovations in this area can attract top surgeons and patients. 
• Attracting More Patients and Providers: A robust robotic heart program can serve as a significant draw for both patients and healthcare professionals. 

Adapting GTM Models to Support Providers’ Top Priorities

As healthcare facilities navigate the complexities of market share growth, cost containment and staff retention, MedTech and digital health companies have a unique opportunity to support these goals through innovative solutions. By understanding and aligning with the strategic priorities of healthcare providers, these companies can not only enhance their market position but also contribute significantly to the advancement of healthcare delivery. 

The chief marketing officer emphasized the importance of aligning with strategic goals, which include expanding market share, cutting costs, retaining staff, enhancing quality metrics and driving innovation. MedTech and digital health companies should recognize these priorities and tailor their solutions accordingly. 

To achieve this, MedTech and digital health companies must ensure their go-to-market models are aligned with supporting their customers’ growth, cost containment and retention priorities. Teams should be structured to drive awareness of leading devices that attract top physicians to hospitals. Additionally, structuring contacts in a way that avoids wasteful spending, maximizes investment and aids in cost containment is crucial. Deploying clinical roles and tools that provide necessary education to clinicians will help drive staff retention. Ultimately, MedTech and digital health companies that help providers achieve their priorities will gain a competitive edge in the market.