16 October, 2020
Medtronic Australasia jumps up the list of AFR Boss Most Innovative Companies
Medtronic Australasia Pty Ltd (Medtronic; NYSE:MDT) was proud to be recognised as one of Australia and New Zealand’s most innovative companies – ranking second in the health industry category. The prestigious annual list, published by The Australian Financial Review and Boss Magazine, is based on a rigorous assessment process managed by Australia’s leading innovation consultancy, Inventium, in conjunction with a panel of industry expert judges.
Medtronic Australasia was honoured to be ranked #2 on the Health Industry innovation list, from over 600 nominated organisations across Australia and New Zealand. The assessment measures a top innovation implemented in the past two years. Specifically, the judges look at how valuable the problem is that the innovation is solving, the quality and uniqueness of the solution, and the level of impact that the innovation has had. Inventium also assesses internal elements such as innovation culture, strategy, resources and process, which demonstrate a sustainable and repeatable approach to innovation. The full list can be viewed here.
Medtronic was thrilled to be awarded for its innovation of a robotic process automation (RPA) solution for Medtronic CareLink 360 – a patient remote monitoring service.
Remote monitoring of patients with implantable pacemakers, defibrillators and cardiac monitors has improved patient survival1 as it allows round-the-clock surveillance of the device. However, the trade-off can result in clinicians having to manually filter and manage a deluge of data.
Now with the RPA solution, once the data from each individual device is automatically transferred into reports, the robotic process then extracts the clinically relevant text and image data to create a meaningful summary for the patients’ healthcare provider – delivering a high-quality service at low cost. Through collaborative innovation, Medtronic’s CareLink 360 service with RPA solution can now support more than 26,000 patients, and ease timely manual labour for 315 cardiologists and cardiac electrophysiologists.
“At Medtronic, we continuously work with clinicians to identify ways to better support them and their patients. Once we learned that previous manual processes had been exhausted, robotic process automation was identified as the solution to take our efficiency and quality of care to a new level, which had been previously unobtainable,” said Liz Carnabuci, vice president and managing director, Medtronic Australasia. “After being recognised for our insulin pump system last year, I’m proud to see Medtronic rise to the top of the innovative health industry once again. A true testament to the dedication of our employees in delivering state-of-the-art technology and innovation.”
“Inventium is proud to announce the 2020 Most Innovative Companies list in conjunction with AFR. The global pandemic has truly given rise to the saying 'necessity is the mother of invention', and we are thrilled to recognise many organisations who have successfully pivoted their offerings and relished the opportunity for change." said Dr Amantha Imber, founder, Inventium.
About The Australian Financial Review Most Innovative Companies
The AFR BOSS Most Innovative Companies list (previously the BRW Most Innovative Companies list) is now in its ninth year. The list ranks the most innovative organisations in Australia and New Zealand, by industry, and is the only national list of its kind. The list is judged and compiled by Inventium – Australia’s leading innovation consultancy. Inventium uses a unique, scientifically proven approach to help organisations grow through innovation. In 2020, the list comprised of ten industry lists, compiled from over 600 nominations. www.mostinnovative.com.au
About Inventium
Inventium is Australia’s leading behavioural science and innovation consultancy. Since 2007, Inventium has helped over 400,000 people become more innovative and more productive at work. Inventium applies the latest findings from science (psychology and neuroscience) to help organisations unlock growth through innovation. Inventium is the official methodology partners of the AFR Most Innovative Companies list and the AFR Best Places to Work List. Inventium is also a proud BCorporation. www.inventium.com.au
About the Australian Financial Review
For more than 50 years The Australian Financial Review has been the authority on business, finance and investment news in Australia. It has a reputation for independent, award-winning journalism and is essential reading for Australia’s business and investor community. The Australian Financial Review is owned by Fairfax Media Limited [ASX:FXJ], a leading multi-platform media company in Australasia. www.afr.com