In The News: Supply Chain Woes Trigger Growing Shortage of Medical Equipment
In the wake of news regarding the new omicron COVID variant, hospitals and healthcare providers are bracing for what’s next while still feeling the impact of massive staffing shortages in addition to equipment shortages that won’t be resolved any time soon.
The slowdown of the medical supply chain has been felt deeply across the healthcare spectrum, with experts and industry leaders predicting that the shortages will be felt long into 2022, and even into 2023.
Today, locating and efficiently utilizing mission-critical medical equipment that hospitals already own is more vital than ever before. Real lives depend on medical devices and if equipment is not there when medical staff need it then patient outcomes are at risk. Furthermore, improving inventory management strategies can help bolster supply chain resilience, as robust real-time data can unlock precisely how equipment moves through its workflow—providing efficiency insights and illuminating true equipment inventory needs now, and in the future.
Read on for our monthly news roundup detailing the current medical device shortage, critical predictions for the new year, and strategies to bolster resilience.
The global semiconductor shortage is taking its toll across many industries, including healthcare. Explore the many ways (both obvious and non-obvious) that semiconductors are supporting governments’ responses to the COVID-19 pandemic, and why the semiconductor industry needs to become essential as the pandemic continues.
Plus, see what lessons were learned from the pandemic’s impact on the semiconductor supply chain, as well as some immediate steps policymakers can take to maintain production and shipments of essential ICT goods in preparation for future public health crises.
The semiconductor shortage is the latest supply chain challenge to hit the MedTech industry, and it is unlikely to be the last. Every company, therefore, should develop vendor engagement and management strategies to mitigate risk and enhance resilience to existing and potential supply chain disruptions. See the five suggested strategies.
Ninety-nine percent of hospitals and health systems report challenges in supply procurement as of October 2021. Throughout the past 18 months, executives and supply chain leaders in healthcare have learned many lessons and discovered ways to cope, making them more prepared for the continued challenges ahead. See what they had to say in this informative roundup from healthcare leaders across the country.
It should come as no surprise that global supply chain shortages top the list for predictions in 2022. The medical device supply chain is facing challenges that extend beyond semiconductors to include raw materials and other commodities. For many medical device manufacturers, this is more than a disruption. Some are looking at taking a major financial hit—at best.
See the medical device trends for 2022, including how the market size for AI in healthcare is also set to grow significantly in the coming year.
GE Healthcare is the latest medtech to take a supply chain hit. “Based on broader industry trends, we expect company-wide pressure to continue at least into the first half of next year,” says GE CEO Larry Culp. “I’m not sure we’re yet in a place where we would say that things are stable.”
GE is trying to address the supply chain disruptions by “activating dual sources, qualifying alternative parts, redesigning and requalifying product configurations and expanding factory capacity,” according to Culp.