It doesn’t take much to understand that medical equipment is wildly crucial in our world today. But the prolonged lifecycles of this equipment necessitate a need for regular updates and adherence to long-term service commitments – which are expected to be handled promptly. When a machine breaks, time is of the essence. Our OEM customers in this industry can vouch for this reality.
The longer a product’s lifecycle is, the more likely the availability of critical electronic components becomes a significant concern. These components are more likely to transition toward obsolescence before the medical equipment’s end-of-life, which leaves OEMs no choice but to pursue an expensive redesign. All of this is central to any conversation regarding the healthcare industry, but it’s equally important to understand why we consider these issues as seriously as we do.
In short, it’s all in the name of saving lives.
“Healthcare is an ever-changing landscape and providers are continuously looking for better processes, treatment models and supplies to bring patients the best care,” says Becker’s Hospital Reviews’ Mackenzie Garrity. “Supply chain technology is key for providing patients with improved access to care.”
A problem is guaranteed to arise when electronic components within medical devices become out-of-date and are no longer viable within the industry. If this were to occur, it could generate hardships for the healthcare industry’s central priority – their patients. It’s essential to figure out an answer to overcoming this supply chain issue.
In some cases, alternative components can be found to keep equipment in working order, but these alterations are subject to a rigorous and lengthy approval process. According to the FDA, the classification of each medical device determines the length of the approval period. “Class III devices are those that support or sustain human life, are of substantial importance in preventing impairment of human health, or which present a potential, unreasonable risk of illness or injury.”
A Class III device typically requires a Premarket Approval (PMA) which can take up to 180 days for the FDA to review and make a determination – all the while patients are forced to either travel long distances to receive their treatments, or wait.
How can you be proactive to prevent such disruptions and ensure patients receive the proper care they deserve?
The answer is clear: take action and utilize the efforts provided by electronic component supply chain partners.
For over 27 years, EDX has been helping OEMs specializing in healthcare equipment overcome the many supply chain challenges unique to their industry. Our ability to purchase electronic components, semiconductors, computer products, box builds, and even finished assemblies provides customers the bandwidth to support the entire lifecycle of their products. We call this our Last Time Buy Solution.
Many of our customers both in and out of the healthcare industry manufacture products that have extended lifecycles, usually well beyond 10 years, and EDX is the only supply chain partner that will purchase, own, store, and fulfill end-of-life components for as long as the product’s lifecycle demands.
Overall, the key is to add value to patients in the healthcare industry. EDX’s Last Time Buy Solution can assist OEMs with their obsolete components and ensure patients around the world have access to the treatments they require for years to come.
We all have the same goals at the end of the day: to create a better, more advanced, future for others. EDX is here to support your healthcare supply chain needs.