Page 8 - MedTech 1920_29Oct
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SINGAPORE MEDTECH DIRECTORY 2019/2020
MESSAGE
Ms Margareta Laminto
Chairperson
Singapore Manufacturing Federation Medical Technology Industry Group
Despite a tough year for manufacturing in Singapore, the medical technology cluster was one of the bright sparks that saw an expansion. The long-term goal of making the biomedical industry a key pillar of Singapore’s economy remains on track. However, a different set of challenges are instore for the industry.
In Singapore, there are clear priorities in advancing value-based care model for patients. With the shift towards accountability for patient health and healthcare spending, there is an unprecedented need to accelerate real world evidence and the right measurement of patient outcomes. The Medical Technology Industry truly needs greater collaborations across the different stakeholders to drive the VALUE partnerships propositions that are meaningful and impactful to patients. VALUE based partnerships in medical technology can bring greater bene ts to Singapore and beyond Singapore shores.
The challenge therefore, is how each stakeholdercontributestothiscollaborationto ensure the outcome that we have envisioned for the Medical Technology industry.
Private and government payors need to review how  nancing could be possible providing an appropriate outcome based payment framework to genuinely meet the treatment goals of a value based partnership for the policyholders that is worth exploring.
Policymakers need to provide a supportive environment where the great ideas can blossom and  ourish into real patient solutions
andbreakingthebarriersintheregulatory framework to accommodate the value creation of such innovative solutions. In the case of HealthTech solutions, the policymakers also need to understand the product and innovative solutions and guide the industry if it is a Health or a Technology regulation that they need to ful l.
Innovators and businesses need to focus on innovative solutions to drive disease prevention and disease interception and for the businesses to turn these great ideas that the innovators have persisted for into meaningful clinical application. The Business leaders also need to look at how they can deliver the promise of positive health outcomes to bene t patients in a scienti c but practical way.
During the care journey, the healthcare providers can demonstrate this valued based partnership with the patient through improving the patient care pathway. By genuinely understanding the patients’ experiences and needs, the healthcare providers have the best management consultants to organise an “integrated practice unit” for continuous improvements.
With the support of the medical technology industry group and the community, I am certain the combined partnerships of science, technology and innovation will create solutions that ful l the patient’s needs of today and tomorrow as well as making a positive impact to Singapore Ministry Healthcare Vision of 3 Beyonds: Beyond Healthcare to Health, Beyond Hospital to Community and lastly Beyond Quality to Value.
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