About Surgical Training Institute
STI was founded in 2009 by Dr. Richard Anthony, a “medical services entrepreneur”, whose past successes include a Pharmaceutical company developing anti-infectives, and a Contract Research Organization (CRO) proving full development out-sourcing services to the pharmaceutical and biotechnology industries. Dr. Anthony realizes pharmaceutical therapy are driven purely by the “science of medicine” to treat or prevent disease, through clearly delineated biochemical and/or physiological effects on the cell, tissue, organ, or organism.
Conversely, he considers the application of a medical device, whether for diagnostic and/or therapeutic purposes, to more importantly rely on a physician’s skill in the “medical arts”, as much as their understanding of the “science” of medicine. Therefore, STI was predicated on the belief that a healthcare professional’s need for interactive medical device education creates a continuous demand for Bioskills training, not only to obtain principles of anatomical knowledge, but also to gain practical hands-on skills to solidify the learning experience.
Bioskills training in medical education is critical at all stages of the healthcare professional’s education and career:
- Early on, to become familiar with the intricacy of the anatomy, or a medical procedure.
- As specialization requires hands on practice to achieve an acceptable degree of competence.
- When first trying new technologies or procedures, or when repetition and refinement are required to achieve mastery.
- Better these skills are initially practiced in a bioskills “simulated patient”, rather than on live patients, where the risk of injury during training would far outweigh the potential for benefit.
CRO Growing Need
Historically the Medical Device industry has lagged behind the Pharma/biotech industries in utilizing outsourcing for non-revenue business functions. Unfortunately, the Medical Device industry is vulnerable to the same cost pressures that drive Pharma/biotech to heavily rely on CROs to reduce operating costs and capital expenditures:
- Over 80% of Medical Device companies have 50 or fewer employees, leaving them shorthanded to achieve their goals
- Rabid competition demands rapid market penetration, delays to market = reduced market share
- Merger & acquisition favors lean, profitable, innovative companies, outsourcing lowers capital and operational expenses
- High cost of Marketing and Sales, leaving less resources for non-revenue generating departments
- Increasing FDA oversight and regulations leading to rising development expenses and time to market pressures
CRO Outsourcing Role
CROs can help you cope with these pressures to allow your company to focus time and resources on sales of existing products, and identifying the next new product advancement. Specifically, a CRO can:
- Eliminate Capital costs of non-revenue generating departments
- Be responsible for non-core expertise and staffing on demand, reducing headcount when need abates
- Provide Rapid resource deployment saving time=money
- Assist with international expansion into territories with limited internal resources, experience, or pre-existing presence