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Medical Technologies

The risks for medical technologies firms continue to evolve and increase in complexity. Marsh can help you identify your most pressing risks and develop strategies and solutions to mitigate them and reduce volatility.

Technology advancements. Cybersecurity breaches. Patient safety risks. Complex regulatory environments. Intellectual property threats. Supply chain vulnerability. The risks faced by medical technologies firms are numerous and continually evolving.

Despite these multiple risks, medical technologies firms and device manufacturers continue working to provide essential and lifesaving products to patients and healthcare workers. The COVID-19 pandemic has seen these manufacturers and suppliers moving at unprecedented speeds to safely develop these critical products and services.

Implementing effective risk management policies and procedures to identify and mitigate these risks is crucial in this challenging environment.

With experienced life sciences advisors, utilizing advanced analytics and industry leading benchmarking, Marsh can help you prepare for and mitigate the business, financial, and operational risks specific to your organization.

FAQ

Risk management is a major goal of US companies designing, developing, and manufacturing medical devices and related technology. Comprehensive risk management involves, among other things, identifying, understanding, and preventing breaches of control that may result in unfavorable outcomes.

Similar to those in the pharmaceutical and biotech industries, US medical device and technology companies should have adequate insurance coverage and follow applicable federal and international regulations.

These two critical risk management actions, especially when combined with oversight by a trusted advisor, can help you reduce your risk of litigation or financial hardship.

Our people

Eddie Albers

US Life Sciences Practice Leader