Why Recurring Technology Models Are the Future of Medical Devices
The medical device industry is undergoing a major transformation, with recurring technology models gaining traction as a preferred approach for both healthcare providers and patients. These subscription-based or recurring service models are redefining the way medical devices are accessed, used, and maintained, offering numerous advantages over traditional one-time purchase methods. Companies like Biotricity are at the forefront of this shift, providing innovative solutions that deliver hospital-grade monitoring directly to patients while optimizing cost and convenience. Understanding Recurring Technology Models A recurring technology model involves providing medical devices as a service rather than a one-time product sale. Patients or healthcare providers pay a subscription fee for continuous access to the device, support, and analytics, which often includes software updates and clinical data services. This model ensures that devices are always up-to-date, reliable, and integrate...