Why you should consider a career in the medical technology manufacturing industry

smartphone and stethoscopeHave you ever wondered where schools and laboratories get their beakers, pipettes, cell cultures, and other equipment from? Probably not, but medical technology manufacturing companies are actually an important part of the healthcare industry! These companies produce the tools necessary for scientists and researchers to do their jobs successfully. They are also a great place to work, as there are many rewarding job opportunities to choose from. Here are some reasons why a job in the medical technology manufacturing industry could be right for you:

You Can Make a Difference

Knowing that your work is meaningful and impactful can greatly improve your satisfaction and happiness with your career. At a medical technology manufacturing company, you can help develop, produce, or distribute essential laboratory products, life-saving medical devices, or medical equipment. These products are crucial for the development of new healthcare innovations and treatments. Whether you are part of the engineering team or the warehouse distribution team, you can play an important role in improving the world’s health.

No Medical Expertise Required

Although you might think that a medical technology manufacturing company only has the need for scientists or engineers, they actually need a wide variety of staff to make the operation successful. For example, a laboratory equipment manufacturer such as Greiner Bio-One requires technicians, machine operators, warehouse workers, quality control operators, sales managers, financial advisors, and more. With this flexibility, it is possible to still play a role in helping colleges and laboratories get the equipment they need without directly creating or distributing the tools yourself. Whether you have a medical background or sales background, there are plenty of opportunities for you to find a place at a medical technology manufacturing company.

Lots of Travel and International Opportunities

Due to the large size of many medical technology manufacturing companies, it is possible to find a job anywhere in the world. This means you could relocate to another country temporarily or long-term. Alternatively, many positions such as sales, finance, or management allow remote work with regular travel to manufacturing plants around the world. This can be a great opportunity to explore Germany, the Netherlands, China, or the United States for free!

 

In addition to being able to make a difference, choose from a variety of positions, and travel internationally, working at a medical technology manufacturing company can also yield high salaries. Of course, your income will depend on the position you choose. Typically, if you have a medical school degree, you can attain a much higher earnings potential. However, top-level sales, marketing, or management positions can also earn high salaries.

 

No matter your background, you can find a place in the medical technology manufacturing industry. Check them out today!

Image credit – Silver space

Common life insurance terms that you NEED to know for your business

What is life insurance? Forbes contributor Esther Shaw provides a to-the-point definition, describing life insurance as “a type of protection designed to help your loved ones cover mortgages, debts and day-to-day expenses when you are no longer around.”

Therefore, it makes sense to consider opting for life insurance to not only cover yourself as a business owner but also look out for the financial welfare of your employees’ dependents. However, any talk about life insurance can be strewn with initially bewildering jargon – like the phrases defined below…

“Term life insurance”

 This is so-called as it only remains valid for a specific period of time as detailed in the policy terms and conditions. While it would provide your loved ones with a lump sum payout in the event of your death, the life insurance policy would be rendered useless if the term expired before a claim is made.

In other words, once the term has expired, all of the premiums previously paid into the policy would essentially be lost – but the policy’s usefulness could depend on what type of term life cover it is.

“Decreasing term life insurance”

With this type of term cover, the amount that would be paid out upon your death will decrease over time. This means that, if you die earlier in the term, your family will get a larger payout than they would if you were to die nearer to the term’s expiry date.

Hence, a Business Advice article advises that you could use this insurance to cover outstanding debt the balance of which would fall over time.

“Increasing term life insurance”

Naturally, this is the opposite of decreasing term life insurance – meaning that, over time, the payout will grow. Over the length of the policy, this payout will rise by a fixed amount every year. As a result, this insurance could help you to protect your business assets against the cost of inflation.

However, as the policy would still run out at the end of the specified length of the term rather than upon your death, you might prefer to instead consider…

“Life assurance”

You might often see this term being used seemingly interchangeably with “whole-of-life cover”. In either case, the reference would be to a type of life insurance intended to run for the rest of your life.

For this reason, your loved ones would be guaranteed a payout. Hence, opting for a whole-of-life policy would, despite the relatively high expense of choosing this over term cover, would also remove a lot of the risk attached to that temporary type of life insurance.

“Group life insurance”

A glossary of life insurance terms published by Business Insider describes this as thus: “Employer-provided life insurance that is usually offered for free.” However, any employee who is discharged from, retires from or quits the company will lose coverage.

So, by offering employee life insurance of this description, you could show your commitment to fostering your employees’ financial wellbeing while also inspiring these workers to remain loyal to your business.

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4 Great Business Ideas for Healthcare Professionals

If you’ve been in the healthcare industry for years, know that right now you have a very valuable skill and set of expertise that can easily be turned into a business. The healthcare industry is a behemoth and continues to grow every year. People are also looking for personalised solutions, and you could be the one to provide them. Let’s take a look at some business ideas all healthcare professionals should consider.

Open a General Practitioner Clinic

If you’re a physician, the most obvious choice would be to open a clinic. This comes with many challenges, however, and not everyone is ready to deal with the stresses and pressures of finding their clientele. Unless you can master the business part of it, you’ll struggle with this model. You will also have to start thinking about hiring staff and managers, managing your installations, and building relationships with suppliers.

Suppliers will have a great effect on your overhead, and we would suggest that you start looking for GP supplies online as you’ll be able to make significant savings. Working with the right suppliers will make sure that you get your supplies on time, and could allow you to get discounts over the long run as you become a regular.

Home Health Care

This is great for nurses who feel like they may not be able to handle their responsibilities, but still want to work with patients. This could be a great way to get a change of pace without completely leaving the profession. This is also great if you like to have a personal relationship with patients.

As a home health care nurse, you will be responsible for looking after people who have been recently discharged from the hospital. Since there’s a push right now for more at-home care, you could benefit from the increase in demand, especially as more people are going into old age.

Drug Rehab Centre

If drug abuse is an issue that is close to your heart, you could also start a drug rehab centre. This could be a great way to do something positive for the community. You’ll be able to make an impact in the lives of whole families. This is also a business that can be emotionally draining, however, especially as you see people spiralling out of control. But the rewarding parts largely outweigh the bad, and this could be a great option if it’s something you feel you would be good with.

Pharmaceutical Sales Rep

This one is probably the most accessible and some companies will not even require their reps to have a medical background. But if you happen to be a nurse, for instance, know that they will open their arms wide to you. This is because they tend to have a very in-depth knowledge of medicine and changes in the industry since they’re the ones who have to use them on patients. They have the sort of expertise pharmaceutical companies look for, and this could give you a big advantage when working with clients.

These are all business ideas you should ponder over if you’re still in the profession or are thinking of moving. They all cater to different types of personalities, so make sure you look at what they require and see if you have what it takes.

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The Limitations of Off-the-Shelf Components When It Comes to Medical Devices

With a shift in the patients’ lifestyle, health facilities have been forced to alter their operations to meet the changing lifestyle of the patients. Onset of the Covid-19 pandemic provided an opportunity for landmark technologies like digital hospitals to be adopted in health facilities. Other technologies like artificial intelligence, remote monitoring and treatment, electronic health records (HER), and 3D printing are recent innovations that are changing health facilities’ operations. However, such innovations’ main limitation is that they are off-shelf technologies, implying that they are developed for the mass market. Some of the limitations of off-shelf components in the medical field include:

Inability to adapt to your operations

According to a leading medical device component manufacturer, adopting an off-the-shelf component in your hospital will force you to adapt your operations to adapt to the machine’s capacity. Changing your operations to suit your machine’s components will reduce inefficiency in your hospital and lower your competitive edge.

Think of the system flow in diagnosing patients, for instance. The best practice is that the doctor instructs the laboratory to conduct some tests; then, the results are relayed to the doctor’s office in real-time. If the off-shelf component adopted in your hospital does not support this system, this implies that the patient will have to wait longer to get results. Further, patients will be forced to walk from the doctor to the laboratory to get the physical results making your operations long and inconveniencing patients.

Static features

According to Information Systems research, adopting an off-the-shelf component implies that you are at the developers’ mercy regarding when and how you will get the new features. At the onset of covid-19, when hospitals encouraged patients to stay at home and seek medical services virtually, many hospitals that lacked the technology to provide such services lost patients.

With static features of the off-the-shelf components, you cannot change your operation to meet new emerging customer needs. Hospitals are forced to rely on old, outdated technology in the wake of rapidly changing consumer needs. With custom medical components, you can add, edit, delete, adjust or amend the components at any time to suit your needs. The current customer is rapidly shifting and more informed than ever, thus to stay competitive in the medical field, you must identify and adapt to the rapidly changing customer needs.

Off-shelf components can be expensive.

According to Digital Guardian, adopting Off-the-shelf components seems cheap since they benefit from large scale economies. Still, as you adopt the technology, the cost increases with each additional user. For instance, if your monthly cost is $50 for five users, this might seem affordable initially. However, as you scale your operations and increase your team to 500 people, the cost increases substantially.

Price is not the only cost implication of adopting an off-the-shelf component. Staff training, lack of integration, and unreliable technical support are some hidden costs of such technology. If you purchase a machine, and your current team lacks the skills to use it, you will be forced to incur additional staff training costs. However, in custom medical devices, staff training is part of the initial cost, making it cheaper.

Thus, while off-the-shelf medical equipment seems affordable at first, the hidden costs like staff training, lack of integration, and a lack of continuous technical support can make this technology quite expensive.

Image by mohamed Hassan from Pixabay

How to Multitask Without Sacrificing Business Quality

Did you know that only 2% of people can truly multitask? If you are part of the 98% that can’t really multitask but want to learn more about how to multitask with business, you are in the right place. We have put together this quick guide sharing our top business tips to help you multitask without sacrificing quality.

Keep reading to learn more about how you too can multitask successfully.

  1. Plan Ahead of Time

Planning ahead of time will help you when it comes to multitasking. Instead of waiting until you are in the middle of a task to decide to do something else make a list of all your tasks.

Then take your list and put the tasks that are compatible with each other so that you can tackle them at the same time. Putting tasks that you can work on at the same time will help with keeping data integrity controls in place. For example, if you are working on social media plans for different clients, keep the clients with similar content together.

If you are going to have your mind jumping from one task to the other, those tasks need to have something in common in order for you to not feel like you “fried” your brain. Keep in mind that your short-term memory can only handle so much and it is possible to overdo it and end up getting nothing accomplished.

Trying to wing multitasking is not possible which is why you need a plan. Multitasking is not something that you do with zero effort, you will need a well thought out plan that will help avoid important tasks from falling through the cracks.

  1. Time 

Another tip to multitasking is to divide your time. Set a specific time during your workday to finish the tasks that are your core responsibilities for that day. These core tasks should take precedence over everything else.

Then set the rest of the time to finish the tasks that are not as important but still have to get done. Dividing your time correctly will ensure that you always complete the work that you can’t compromise no matter what.

Also, set a certain time to check your emails and texts instead of checking them throughout the entire day.

  1. Manage Distractions

Technology has certainly helped us in the workforce but at the same time, it has created major distractions in the modern workplace. From social media to videos to blog posts it is so easy to get distracted and forget what you were doing.

You also want to avoid taking any phone calls or dealing with noisy coworkers during work hours. In order to complete multiple work tasks efficiently, take your work to a quiet space or into a conference room if your current work area is noisy. If you do not need your phone in order to work then turn it off or put it on silent to avoid this major distraction as well.

Take the time to turn off email notifications text alerts, etc. unless your position requires you to constantly check these notifications. The truth is that distractions are your enemy when you are working because even if you are tackling one simple task you can make a mistake when you are distracted.

  1. Focus

Create a to-do list every morning or the night before to avoid losing track of the tasks that have to get done. Put the tasks in order from most urgent to least important. Having this list will make it easier to stay focused and not forget to do something really important.

Keep this to-do list visible at all times. If your office is normally chaotic then you have to place this list in a spot where you will see it at all times. You might want to also color code the urgent tasks in order to give yourself enough time to complete them.

Some people work better when they have a certain type of music on. If this is you, then do not be afraid to wear a headset and use music to increase your focus.

  1. Downtime Is Your Friend

When you are multitasking it gets in the way of your memory. You are in essence interfering with noticing new information that comes across. For example, if you try to recall what you learned during a meeting with a client you will probably draw a blank because your brain was a bit tied up doing multiple tasks at once.

For this reason, you want to utilize your downtime wisely. Take those quiet moments to review notes from meetings, re-read any important documents you were given throughout the day, etc. Do not just read over everything and forget it, instead explain it back to yourself to make sure you truly comprehend it and remember it later on.

  1. Use Tools

You might want to add some tools to your toolbox to help you accomplish more than one task at a time. A popular app to help with multitasking is called Trello. This is a simple and easy to use application where you have the ability to store your tasks and keep up with them.

Now You Know How to Multitask Effectively

We hope that now that you have our top tips on how to multitask you can start applying them right away. Remember that multitasking is certainly not about working harder but instead it is about working smarter.

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