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Surgical products companies are reasonably mature in their use of digital products and sales channels.Yet they need to shift away from expensive sales channels and into data-driven digital models that will help them reduce commercial costs, generate better customer insights, and build stronger customer relationships with price-sensitive providers. Diagnostics companies are showing a strong use of digital technologies in product and service portfolios.However, they can build on that progress by using data to gain a deeper knowledge of their customers’ needs.
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Companies that sell medical aids have reached a mature stage in their use of digitization for pricing as well as for customer and patient access.Key findings for specific segments include the following: The results give a snapshot of digitization in medtech thus far, and highlight priority areas that companies need to focus on. In the third quarter of 2016, we analyzed a sample of 20 medtech companies to gauge their Industry 4.0 maturity and digital readiness across three dimensions: (1) digitization of products and services (2) business model (digitization of market and customer access) and (3) operating model (digitization of value chains and processes). Yet most companies in the industry are still in the early stages of incorporating these digital technologies into their core business operations. Digitization can help medtech companies improve their operational and financial performance through both internal and customer-facing applications. The innovations in digital technology and smart connections that have led to what is commonly known as Industry 4.0 - or the fourth industrial revolution - hold tremendous potential for the medical technology (medtech) industry.