The selling price or list price of a medical device is driven by numerous factors, such as therapy area and complexity of procedure, level of reimbursement, development costs, the number of competing manufacturers, product life cycle, and whether there have been any recent new technology or product launches.
In addition, the final selling pricing of medical devices is also impacted by the discounting policy of the manufacturer. Companies such as Thermo Fisher Scientific apply discounts for their devices based on their internal business strategy, inventory control, and monthly or quarterly sales targets. In addition, sale location can also affect the final selling price of a device, both in terms of geographical region and facility type. Prices for the same medical device often vary in hospitals and health systems versus outside of hospital facilities, for example if high volume healthcare institutions can negotiate discounts or rebates based on large purchase sizes.
Thermo Fisher Scientific overview
Thermo Fisher Scientific Inc (Thermo Fisher) is a provider of medical equipment, analytical instruments, reagents and consumables, software and services to tackle complex analytical challenges in research, diagnostics and clinical laboratories. It offers solutions for cellular analysis and biology, flow cytometry and synthetic biology. The company has a range of products which include technologies for mass spectrometry, genetic sequencing, electron microscopy, protein, and molecular biology research. The company serves pharmaceutical and biotech companies, academic and research institutions, clinical diagnostic labs, and government agencies; and environmental, industrial quality and process control sectors. It sells its products and services through direct sales force, e-commerce and third-party distributors in the Americas, Asia-Pacific and Europe. Thermo Fisher is headquartered in Waltham, Massachusetts, the US.
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