The corporate reputation of the medical device industry—the patient perspective (2nd edition)

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SHUTTERSHOCK MEDICAL DEVICES CORP REP                   

Embargoed until Wednesday, May 8th 2013

For further information, please contact: Alexandra Wyke or Clive Nead

Patient perceptions of the reputation of the medical device industry and medical device companies are important for one reason: patients equate the corporate brand name with the trust they put in that company’s product (whether the medical device is one they use every day, or only become aware of when they go to hospital, or visit their doctor). PatientView is therefore pleased to ANNOUNCE THE RELEASE of the latest version of its annual review …

The corporate reputation of the medical device industry—the patient perspective (2nd edition)

  •  Based on a global survey, conducted March 2013, exploring the views of 418 international, national, regional and local patient groups from 39 countries (75% from Europe) and with differing specialties 
  • Patient group feedback on the corporate reputation of the medical device industry during 2012.
  • Patient group feedback provides rankings of 30 leading medical device companies for six key indicators that influence corporate reputation: patient-centredness; patient information; patient safety; useful products; transparency; and integrity.
  • Results for 2012 are compared with those of 2011.

For the purposes of this report, the phrase ‘corporate reputation’ is defined as the extent to which medical device companies are meeting the expectations of patients and patient groups. The 30 companies examined are:

medical device companies

KEY FINDINGS

The medical device industry has an “excellent” or “good” reputation worldwide

60% of the 400-plus respondent patient groups believe that the corporate reputation of the medical device industry was “excellent” or “good” during 2012. Among other healthcare sectors, only retail pharmacy has a better reputation (68% of the 400-plus respondent patient groups say that the corporate reputation of retail pharmacy was “excellent” or “good” during 2012). The medical device industry significantly outperformed pharma in corporate reputation among patients and patient groups during 2012. Just 39% of the 400-plus respondent patient groups worldwide think that the pharmaceutical industry had an “excellent” or “good” corporate reputation during 2012.

The medical device industry’s reputation slightly improved during 2012

40% of the 400-plus respondent patient groups believe that the corporate reputation of the medical device industry improved during 2012. Only 24% thought so during 2011. Almost a quarter (24%) of the respondent patient groups think that the medical device industry’s corporate reputation declined in 2012. The remaining respondent patient groups say that the medical device industry’s reputation remained unchanged in 2012.

Nonetheless, the performance of the medical device industry did decline in certain key areas

Some sharp falls are observed when comparing 2012 versus 2011.

  • A decline in levels of integrity. 42% of the patient groups responding to the 2011 survey said that medical device companies were “excellent” or “good” at acting with integrity during 2011. For 2012, the figure dropped to just 29%.
  • Managing adverse news about products. In 2011, 41% of the respondent patient groups said that medical device companies were “excellent” or “good” at being able to manage adverse news about their products. In 2012, the figure dropped to just 26%.
  • Being transparent in all corporate activities. In 2011, 30% of the respondent patient groups said that medical device companies were “excellent” or “good” at being transparent in all corporate activities. The 2012 figure dropped to just 21%.
  • Denmark’s Coloplast ranks 1st overall, for having a good corporate reputation from a patient perspective
  • Coloplast also ranks 1st for each of the 6 indicators, that measure corporate reputation from a patient perspective

 league

Footnote to the 2012 rankings of the medical device companies

Only companies with 15 or more patient groups commenting on their corporate reputation are included in this analysis. Thirty medical companies qualify for inclusion.

Final medical-device-company global rankings for corporate reputation during 2012 versus 2011—as judged from a patient perspective

  • · Coloplast ranks overall 1st in 2012 (as it did in 2011).
  • · Medtronic ranks overall 2nd in 2012 (as it, too, did in 2011).
  • · Medical device companies in 2012 out-performing their 2011 rankings: B. Braun, Becton Dickinson, Fresenius Medical, Philips Healthcare, Roche Lifesciences, Siemens, St Jude Medical, and Toshiba.
  • · Medical device companies in 2012 under-performing their 2011 rankings: 3M Healthcare, Abbott Laboratories, Baxter International, GE Healthcare, Johnson & Johnson, Olympus, and Smith & Nephew.