With the current rate of growth and innovation in medtech, certain aspects require specific attention to assure that progression is done safely. As the demand for worn devices, remote patient monitoring, digital telemedicine, and other connected services continue to grow exponentially, not only are regulations and standards of care evolving rapidly, these advances and disruptions are driving significant progress in cybersecurity and how patient data and privacy can be protected.
Cybersecurity within healthcare is becoming an increasingly important topic for public and private healthcare systems globally. As organizations look to bring electronic patient records online and upload data to cloud-based systems, information will be accessible by virtually any provider, anywhere, at any time. This raises security concerns as the data must be secure and protected.
This is a significant concern for the industry, and it’s happening now. This fast-paced area of development is still accelerating, with multiple players working to ensure the industry can stay on top of growing demands. Cybersecurity is a critical linchpin in the overall implementation of digital healthcare.
As patients begin to control many aspects of their own healthcare, the privacy of an individual’s data and information needs to be safeguarded. This is a growing area where the FDA will be critical in ensuring that processes are in place to protect new types of data collection, sharing, and overall management.
Another impact of the COVID experience has been its spotlight on the global supply chain within the healthcare industry. Earlier this year, the importance of supply chain resilience was elevated by the White House as an issue of national security, and an executive order on resilient supply chains was issued. And when a strong gust of wind pushed the mega-sized container ship, Ever Given, off course in the Suez Canal in March, it blocked a critical East/West supply artery, causing billions of dollars in delays to the global economy. For these reasons, Enterprise Ireland works to maintain Ireland as a reliable and trusted partner from a supply chain perspective.
A change we’re seeing now is companies are looking to move away from having a single, large supplier, and instead, building relationships with multiple, smaller suppliers (often from different countries) they can pivot within the event of a supply chain disruption. Enterprise Ireland works closely alongside all of our client companies to ensure they have the latest, most accurate information with regard to the demands of the market, and the opportunities that exist for strategic supply chain relationships.
A needs-driven supply-chain strategy is something we have implemented within our life sciences team across all the different sub-sectors. The pandemic crystallized the value of a resilient supply chain strategy and forced companies to pivot into various sectors for innovative solutions.
EI’s support of the medtech industry is assuring that healthcare needs are met safely and efficiently by focusing on combating specific issues in the industry like cybersecurity and supply chain issues. The progression of medical technology is imperative in the response to these issues and in shaping the future of how many countries continue to respond to Covid-19.