10 Questions CEOs Should Be Asking About their IoT Platform Strategy

From the CEO’s Vantage Point

As connected devices, combination products, Software as a Medical Device (SaMD) and Digital Therapeutics continue to proliferate, biopharma and medtech companies are in need of a regulated Internet of Things (IoT) platform or underlying infrastructure to support this new data.

Biopharma and medtech companies face two options when it comes to their digital health Internet of Things (IoT) platform – they can build a custom platform or they can buy a pre-built platform.

There are often internal stakeholders who believe they have the internal capabilities to build a custom platform. If you fall into this camp, then download our handout to see the top 10 questions you should be asking your team regarding your IoT strategy…and think through whether you have the answers.

Here’s a sample of the questions you will want answers to:

  1. How can the platform scale as we launch our product(s) in new markets? Is it easy to stand up new platform instances in different countries?
  2. How will we maintain security and privacy compliance in every region we move into, when laws vary country by country and are constantly evolving?

Biopharma and R&D 

10 Questions CEOs Should Be Asking About their IoT Platform Strategy 10 Questions CEOs Should Be Asking
  1. Can the platform integrate with the Electronic Health Records used by the prescribing health care professional?

When you dig deeper into the questions, it becomes apparent very quickly that buying a pre-built platform is more strategic, cost-effective and mitigates your security, privacy and regulatory risks.