The Medical Device Industry’s 9 Most Critical Metrics (GuidingMetrics)
In this article you’ll learn the most critical metrics that companies in the Medical Device Industry should track.
The article does not include metrics such as Profits and Sales that are critical to companies in all industries; rather the focus is on metrics more specific to the Medical Device Industry.
By tracking your metrics, you will dramatically improve your business results.
Why? Because not only is the old saying “If you can’t measure it, you can’t improve it” true, but visibility into your metrics allows you to identify WHERE you can make the easiest and most impactful improvements.
For each metric, we will answer the following questions:
– What is the metric?
– What is the average value of this metric?
– Why is this metric important?
Let’s get started…
1. Adverse Events
What is this metric?This metric measures the number of medical device failures that result in an individual ending up in the hospital, becoming disabled, sustaining life threatening injuries, or possible death.
Average ValueAccording to a recent report published by PriceWaterhouse Coopers, the number of patient injuries due to fau...
