WEBVTT

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- Health care is often more
insulated than other industries

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during a downturn,
but it's not immune.

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Biopharma and medtech companies

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need to develop strategies
to improve their resilience,

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including reducing costs.

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That means looking across
all functions

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from marketing and
sales to operations,

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to general admin,
including HR and finance.

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With tightening financial conditions

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and a potential recession,

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companies need to consider
the implications and risks

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for their supply chain.

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This is particularly true in medtech

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where companies often have
small or mid-size suppliers

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which could be at particular risk

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of experiencing financial
trouble in a downturn.

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If even one of those small suppliers

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suddenly goes out of business

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and the final product
can't be completed

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due to missing materials
from that supplier,

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production can be disrupted.

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Companies need to understand
their overall supplier risk

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and have a mitigation strategy.

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Some businesses might
want to help suppliers

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in managing their own cost increases,

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others may need to find
backup sourcing.

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Either way, companies will
need a plan.