Digital Nova Scotia Member ResMed is a global leader in digital health and cloud-connected medical devices. Helping millions of people with sleep apnea, COPD and other chronic diseases sleep, breathe and live healthier, higher-quality lives. In addition, their comprehensive out-of-hospital software-as-a-service (SaaS) platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, ResMed improves quality of life, reduces the impact of chronic disease, and lowers costs for consumers and healthcare systems in more than 140 countries through their innovative team of more than 7,500 employees worldwide (including almost 250 employees in Halifax).
Supporting Patients at Home and in Health Care
In recent years, ResMed has transformed from a leading medical device company to a world leader in digital health and connected devices. Their remote monitoring and patient engagement tools have helped improve patient outcomes and lower provider costs. ResMed’s connected devices now span sleep and respiratory care and out-of-hospital software solutions that enable patients and seniors to live their best lives at home or in the care setting of their choice. Their unique blend of hardware and software capabilities coupled with their participation in a broad swath of the healthcare industry allows them to identify and build innovative solutions to common healthcare problems to achieve their strategy of improving 250 million lives in 2025. ResMed’s customers include home medical equipment providers (HMEs), sleep specialists, physicians, out-of-hospital caregivers and long-term care providers (skilled nursing, life plan facilities, senior living, home health, hospice and home care).
Fulfilling the Global Demand
Enabling remote monitoring and patient engagement capabilities via their sleep and respiratory care devices has been a game-changer in the industry and has firmly established them as a leader in that market, and one of the world’s largest healthcare telemonitoring companies. This was a significant investment for ResMed and the right one for their customers and those they serve. These tools help improve patient outcomes and lower costs for patients and their providers. In the process, this added value has made ResMed the world’s #1 provider of CPAP machines, masks, and accessories.
For years, ResMed has been a top-5 global producer of connected hospital-to-home ventilators. During the pandemic, the effort and innovation that ResMed applied to help fulfill the global demand for ventilators during the pandemic was incredible to watch; not only because of the logistical hurdles that had to be overcome, but because of the genuine care and commitment to their mission that the various global teams showed. Some of the employee stories that came out of that effort were both incredible and moving.
Last, ResMed’s expansion several years ago into the out-of-hospital software market opened up new sources of revenue, as well as new channels to help patients and seniors recover in the care setting of their choice.
Tackling the Challenges of COVID-19 head-on.
In the early stages of the pandemic, ResMed anticipated a coming surge in demand for invasive and non-invasive ventilators, ramping up its global production 3.5 times (comparing the first six months of 2020 to the same timeframe last year). This was a herculean effort spanning multiple countries and teams, operating in a challenging supply chain and infectious disease environment. They are very proud and grateful that they were able to make a significant contribution toward saving lives over the course of the pandemic. In addition, COVID has driven higher demand for remote monitoring, telehealth services, and other digital health solutions that enable patients to receive fast, high-quality care wherever they are, and enable clinicians to provide that care in a much more efficient manner. ResMed has rethought how they operate a global business remotely while at the same time maintaining – and in the case of ventilators, dramatically increasing – their production volume and strategic focus; innovating rapidly to provide their customers with the tools that they need to be successful and care for their patients in this new and evolving COVID environment. Examples of this include a digital tool for enabling American equipment providers to remotely set up their sleep apnea patients on new masks and devices, and fast-response updates to their post-acute software to allow customers to better identify and manage COVID patients. Finally, ResMed accelerated a number of digital health solutions to support clinicians and patients during COVID, such as the ability to remotely monitor ventilation patients across Europe, which was among the hardest-hit regions in April and May.
Throughout all of this, ResMed’s guiding principles have been the preservation of life and the safety of ResMed employees globally. Their business results reflect the success that they were able to achieve in doing this.
Driving Healthcare Technology
ResMed not only has a goal of changing millions of lives for the better, it does it every day, around the globe. This creates an incredible sense of shared purpose and motivates everyone to contribute toward that goal. In addition, ResMed promotes a culture of innovation and entrepreneurship, empowering all 7,500 ResMedians worldwide to do what’s best for their customers and those they serve. Everyone feels able to contribute, regardless of their role, tenure or location. And technology is a great enabler for the ResMed mission. Through software, they can help address known customer needs and provide greater value to them and their patients. This, combined with ResMed’s culture of innovation, enables them to keep driving healthcare technology and the healthcare industry at large. Every day is different and exciting.