Relevance of PLM and Tech Solutions in the Healthcare Industry
Technology has touched and continues to permeate every industry, and for good. The healthcare sector isn’t left behind. Now that technological advancement is an essential factor in how patients access care, medical device manufacturers must leverage digital solutions to keep up with innovation.
Indeed, life sciences companies must do everything possible to keep up, from product compliance to efficiency. Fortunately, Product Lifecycle Management (PLM) is the solution most manufacturers are looking toward in times such as now.
Below, we highlight how PLM and digital solutions are solving the healthcare industry’s big challenges.
An all-in-one solution
Rules and regulations in the healthcare industry are ever-changing. Across continents, countries, and states, medical processes vary. It becomes difficult for companies to keep track of this dynamic landscape. Fortunately, PLM solutions provide an interconnected platform for solving these problems LLin one place.
When product data is stored across several databases and systems, it can create confusion for team members working on a medical product. And notably, the key to regulatory compliance is for teams to be able to trace all product changes throughout the product lifestyle.
Efficient collaboration
One of the greatest benefits of PLM to the healthcare industry is in how it enables teams to collaborate efficiently. From product design to approval workflows and testing, a PLM solution like teamcenter enables team members to access data from a single database regardless of geographical location.
Users will typically be able to log into the platform from their devices — mobile, desktop, etc. — and collaborate. Executives can sign and approve workflow on the go. The results include time savings, efficiency, and the ability to get the product to the market faster.
Automation
Automation is a core requirement in digitalization. It bolsters efficiency in every industry, including healthcare. And luckily, most digital solutions in the life sciences come with automation parameters. For example, a PLM may be integrated with alert systems to keep track of product registrations across the globe to ensure that every product renewal is noted.
Some digital solutions like Teamcenter also have reporting and analysis. They can offer insights into your previous production processes so you can make better decisions in the future.
Standardization of current regulations
Before life sciences companies launch their products into the market, they must observe regulatory compliance. But different rules apply to each product. So for an organization dishing out hundreds of medical products, the problem isn’t difficult to phantom. Luckily, the process-based approach of PLM solutions can help. How?
Companies can map out processes within a PLM system to identify how these regulatory authorities’ rules should be interpreted. In essence, the system creates a standardized template. With templates covering the compliance requirements of each product, companies can launch their products with the most up-to-date regulations more easily. This will help such healthcare companies remain consistently compliant.
PLM simplifies auditing
The solutions a PLM system offers influence how efficient a healthcare company can be in their audit. With all the information readily available in one place, from product changes down to locating licenses, these digital solutions facilitate transparency in the entire product lifecycle.
A life science company audit must happen: it’s only a matter of when. By having a PLM in place, your company is always audit-ready.
Implementing PLM isn’t always a walk in the park. But companies that can take the pain will certainly reap the benefits if done correctly. What’s more, leveraging digitalization can make the difference between companies that excel and those that remain stunted.
