The US Medical Device Market is a Dinosaur – Mike comments

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Businessperson, Cadillac, Commodity market, FDA, Food & Drug Administration, Injection molding, Medical device, medical devices, Product (business), Stryker, US

The medical device industry is a dinosaur.

Sales people getting paid hundreds of thousands who don’t really know anything about their product.

They don’t know how it’s made, what it’s limitations are based on materials it could be made from, or the process it’s made from. They don’t understand the profitability of their product, the financials of their business nor negotiate any sort of prices for the product.

In addition they have no involvement with the approval process through the FDA to get a product to market.

This isn’t the mark of a business man. This is the mark of an advertising agent costing people too much by their overpaid salaries.

Take this for example. I work for an automotive Tier 1 supplier.

Besides manufacturing automotive components we also have a joint venture in which we are making plastic injection molded components that we sell to Stryker Healthcare.

The plastic resin we use to make these parts sells for $3.85 per pound in the automotive commodity markets.

In healthcare we are selling it for $2,800 per pound and it’s the exact same shit.

I don’t know how many examples I have of this, but I have a lot more.

The medical industry is the most heavily burdened, inefficient and wasteful industries in the country.

I’m not saying it’s doesn’t have its scientific amazements because it does.

What I am saying is that from a business standpoint it is truly a 1955 Cadillac.

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