Medical device manufacturers feeling hospital budget crunches
Credentialing Resource Center Connection, May 7, 2009
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Although medical device manufacturers are trying to put a rosy spin on their finances for investors, some say they’re not as immune to the economic downturn as they’d like to think, according to a May 1 Reuters article.
“Indications are that it could get worse still,” Wachovia analyst Michael Matson said in the article. “(Hospitals are) trying to wring costs from every area, so they're taking more desperate measures to force surgeons to use lower-cost implants.”
If hospitals are putting a crunch on device manufacturers, how will the manufacturers respond to hospitals? Possibly by lowering prices on some devices, speculates Jim Crines, chief financial officer of Zimmer Holdings, according to the article. Zimmer produces orthopedic devices.
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