Your orthopedics company may not be in the software business, but eventually, a software company will be in your business.
This article is a primer for ortho suppliers considering generating revenue from the new business model - software. Many people inside device companies don't understand software products. Today, most of us are wired with a "device mindset", but tomorrow a piece of your revenue will come from software products.
Forward-thinking device companies are starting to experiment with software products. Software products can be sold differently. Most software is sold through SaaS business models.
SaaS stands for "Software as a Service". We all use SaaS products such as Google Drive, Dropbox, Adobe, Slack, Oracle, AWS, or Evernote. In my recruiting business, I buy subscriptions from LinkedIn for recruiting and from Freshbooks for accounting.
I have previously written that software is the future of orthopedics. In the 2020s decade, you can either sit on the sidelines and watch, or start experimenting. Many of today's progressive device companies will learn to deliver value to healthcare customers with new software analysis tools. They will gradually move fr...
