Interview – Gaurav Mishra, Otto Bock Healthcare – Medical Device Commercial Leaders Forum USA 2014
Leading up to NextLevel Pharma’s Medical Device Commercial Leaders Forum, we are conducting email interviews with selected members of our prestigious speaker panel to learn more about their thoughts on this vital issue.
*Opinions below are those only of the individual and do not reflect upon corporate strategy or positioning.
Gaurav Mishra, Vice President of Global Sales, Otto Bock Healthcare
NLP: What do you think makes the North American market so unique for commercial success for medical devices?
Gaurav Mishra: US is the biggest med tech market and continues to have highest market potential in the future. The good reimbursement coverage, government health spending and health trends with stronger middle class makes the market potential attractive for any medical devices company.
NLP: Which trends have you seen for medical devices in North America over the past 5 years?
GM: The insurance reimbursement is getting lighter and copays and self pay part is increasing. The acceptance of patient pay is increasing and there is greater audit of patient bills. The advancement of technology and introduction of more premium devices makes the situation more complicated.
NLP: What’s the best thing for you about working in medical devices in North America?
GM: The acceptance of new and innovative technologies, the customers are definitely open to new options and solutions. In addition, the funding for military veterans and soldiers makes the market potential interesting, it further drives us to innovate.
NLP: Why is this Medical Device Commercial Leaders Forum event a good idea for people to attend in your eyes?
GM: To get a holistic view of reimbursement trends, to get better understanding of the strategies from sales and marketing side in the biggest med tech market in the world. It is ever so important to understand the trends in this market with the changing reimbursement landscape.