09 Feb Healthcare Ready Salutes Medical Device Industry as 2021 “Heroes of the Supply Chain” for Bolstering Nation’s Supply Chain Capacity and Resilience
In our busy daily lives, the widespread availability of high-tech medical devices that diagnose and treat patients rarely tops our list of concerns. Whether it’s a ventilator, pacemaker, stent, or any of the thousands of potentially life-saving interventions, the very existence of these instruments is unlikely to cross our minds until we’re the person who needs them. And, when that time comes, we absolutely count on — and expect — these cutting-edge technologies to be readily available to us.
The COVID-19 pandemic has upended many aspects of our lives. It has also put the availability of medical devices in peril. Since the start of the pandemic, a global semi-conductor chip shortage has caused delays, order cancellations and other supply disruptions at MedTech companies across the world. Because these chips are also used in computers, cars, personal technology devices, and more, the pandemic triggered an increase in demand for these consumer goods and put the ability for the medical device industry to acquire these chips at risk.
The fact that medical devices are still being manufactured today despite this global shortage, is due in large part to the efforts of the industry that makes them. In the face of this crisis, AdvaMed, the Advanced Medical Technology Association, which represents over 400 medical device manufacturers, sounded the alarm among our elected officials. They swiftly commissioned a study with Deloitte and found that all respondents had experienced some level of disruption to their chip supply chain, with delays ranging from two weeks to more than one year. AdvaMed used these findings to push the Biden administration, Congress and semiconductor manufacturers to prioritize the supply of semi-conductor chips to MedTech companies over other industries that use the components.
This is just one example of why medical device companies, and their representative groups are one of Healthcare Ready’s 2021 “Heroes of the Supply Chain.” Garnering support of like-minded companies, the industry tackled seemingly insurmountable challenges and turned them into opportunities for success. Through their tireless efforts, they were able to quickly mobilize and advocate on behalf of the healthcare workers on the frontlines who use these devices every day. They’re also planning for and anticipating upcoming hazardous events.
We join the nation in saluting the medical device industry’s efforts for investing in and developing strategies to bolster supply chain resilience to help companies mitigate current and long-term risks. They’re continuing to establish creative partnerships to ensure that critical medical supplies we rely on, including needles and syringes, are widely available. We applaud the entire industry for not being dissuaded by adversity and for coming together, making their case in Washington, DC, and rallying the nation during this challenging time. Cheers to our valiant “Heroes of the Supply Chain” for their commitment, dedication, and relentless pursuit on behalf of patients everywhere. We are forever grateful as a nation!
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