Transforming Business Models in Medical Technology

Real Time Usage-Based Billing for Connected Medical Products

Hospitals, Medical Clinics and patients with at-home medical equipment are becoming less and less interested in paying huge sums of money for their medical devices.  The Internet of Things is enabling product manufacturers to circumvent this problem by replacing the previous one time capital expense with a pay-per-use subscription model. This subscription model provides lower up front costs while focusing on selling services and outcomes as opposed to physical assets.

This new approach to medical billing also drastically changes the relationship between the vendor and the customer. What was once a one-time transaction is now converted into a long-term customer relationship.

LogiSense has addressed the needs of Service Providers who are tasked with implementing modern billing systems that can integrate with existing ERP and Customer Care solutions. EngageIP, LogiSense’s flexible usage-based billing solution, integrates seamlessly with existing systems to provide unparalleled flexibility in billing.

Usage Based Billing Challenges Answered with EngageIP

Automation

Integrating medical device usage with existing systems for real time billing

Differentiation

How to establish “pay-per-use” pricing models and price points that allow you to differentiate from the competition

Budget Conscious

Existing systems are typically heavily customized and for smaller organizations this only magnifies the risk and reluctance to upgrade billing systems

Automate, Optimize and Simplify your mHealth Business Models

LogiSense is leading the way in solving the most complex monetization requirements of the connected economy. Through the LogiSense usage rating and billing capabilities, medical product manufacturers can automate process steps, optimize revenue, and simplify the complexities of selling their connected products “as-a-Service”.

Key Attributes:

  • Adjunct Usage Billing allows for seamless integration into existing ERP, CRM and Billing systems 
  • Fast time to revenue with rapid introduction of new services 
  • Self-serve care allows customers to monitor usage, compare offers and better manage costs 
  • Scalable enough to manage an enormous number of devices and services 
  • Flexible Business Models that include support for postpaid, prepaid, one-time and recurring subscriptions, as well as consumption based billing models
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