Medtech Productivity
Back to Medtech

Productivity, Agility, & Automation

We help establish agile medtech organizations by applying digital, automation, and advanced-analytics technologies at scale.

Disruptions like digitization and automation have brought significant shifts in the operating model, productivity expectations, and job roles within medtech companies today. We help clients anticipate this future through agile ways of working, zero-based budgeting and management, customer-journey design, capability building, change management, and end-to-end process optimization.

Six productivity drivers in medtech

Examples of our work

Medtech Productivity

15 percent improvement in organizational efficiency and effectiveness:

We identified and removed low-value work for an equipment manufacturer, which allowed it to implement shared transactional services, simplify workflows, and apply lean management. This helped align capacity and service levels with individual business-unit priorities. As a result, the cost of the business function was reduced by 15 percent, while the output and quality was increased.

40 percent productivity gain in a finance function:

We helped a medical-device company standardize, automate, and optimize seven end-to-end finance processes. This achievement effectively created a $19 to $24 million earnings before interest, taxes, depreciation, and amortization opportunity along with improved quality, accuracy, and speed.

Featured capabilities

We have invested in the following proprietary capabilities, approaches, and tools that help clients understand opportunities and identify gaps:

  • Productivity transformation. We apply multiple levers in designing and implementing a holistic transformation to create radical and sustainable improvements in productivity across the enterprise
  • Automation at scale. Through our Automation 360 tool, end-to-end analytics and design approaches, and EdgE methodology, we benchmark against best-in-class processes, identify opportunities for automation, and implement automated end-to-end processes. We also help clients build automation capabilities through the McKinsey Academy.
  • Zero-based budgeting. We apply zero-based management to assess spend in annual operating-expenditures budgets, manage monthly financial performance, and set up cost-management cultures.
  • Lean organization. We apply an integrated technology-enabled solution that unlocks hidden insights from HR data and can identify up to 15 through 30 percent in cost savings.
  • Functional transformation. Through tools that include Idea Bank, CBF Lab, Function 360 benchmarks, and Function 360 effectiveness surveys, we identify functional-efficiency gaps and evaluate overall effectiveness based on industry-peer benchmarks and proprietary knowledge.
  • Restructuring and transformation services. Through our Wave tool— a project-management solution—we provide a structured diagnostics process and rigorous execution management to achieve high returns quickly.
  • Shared services and outsourcing leverage and improvement. With tools that include our Contract 360, Shared Services 360 plus implementation playbook, and Sourcing Opportunity 360, we help set up and assess existing shared-service centers for optimization.

Learn more about how we can help you

Global Business Services

Are your global business services set up for the future? Contact us to learn more about how you can reinvent your GBS.

Enterprise-wide Automation

Do you want to understand your opportunity from enterprise-wide automation at scale? Contact us to learn more.

Productivity

Do you want to learn how productive you are compared with your peers? Contact us to test our “fast feedback” CBF Lab tool.

Featured expert

Partner, Stockholm

Karsten Dalgaard

Advises pharmaceutical and medical-products companies on performance-transformation, productivity, growth-strategy, and commercial-excellence topics

Featured Insights

Report - McKinsey Global Institute

Jobs lost, jobs gained: What the future of work will mean for jobs, skills, and wages

– In an era marked by rapid advances in automation and artificial intelligence, new research assesses the jobs lost and jobs gained under different scenarios through 2030.
Article

The transformative power of automation in banking

– A second wave of automation in banking will increase capacity and free employees to focus on higher-value projects. To capture... the opportunity, banks must take a strategic, rather than tactical, approach.
Article - McKinsey Quarterly

What does automation mean for G&A and the back office?

– A lot. By incorporating available technologies, redeploying employees and reimagining processes, companies can dramatically increase... performance and greatly reduce costs.
Article

Intelligent process automation: The engine at the core of the next-generation operating model

– Full intelligent process automation comprises five key technologies. Here’s how to use them to enhance productivity and... efficiency, reduce operational risks, and improve customer experiences.
Interview

The next acronym you need to know about: RPA (robotic process automation)

– RPA is a promising new development in business automation that offers a potential ROI of 30–200 percent—in the first... year. Employees may like it too.