The partnership between medical device manufacturers and Service Disabled Veteran Owned Small Businesses (SDVOSBs) has ushered in a multitude of benefits for both parties. This alliance not only supports veterans but also bolsters the federal supply system that fuels the vast federal healthcare network, including the Veterans Administration (VA) hospitals and Indian Health Service. The origins of this partnership can be traced back to President Bush’s Executive Order 13360 issued on October 20, 2004, which aimed to strengthen opportunities in Federal contracting and initiated a five-year strategic plan executed by the Department of Defense. This essay will delve into the myriad positive impacts of such collaborations and outline the unique capabilities of SDVOSBs.
The Strength of SDVOSBs
Federal Contracting Advantage: Leveraging an SDVOSB’s status allows medical device manufacturers to gain a competitive edge in federal contracting. The Federal government has a set-aside program for SDVOSBs, which mandates that a certain percentage of federal contracts are awarded to them. This preference boosts the manufacturer’s chances of securing lucrative contracts within the federal supply system, expanding its reach within the healthcare sector.
Support for Veterans: SDVOSBs are businesses owned and operated by service-disabled veterans who have made significant sacrifices for their country. Collaborating with SDVOSBs provides a platform to give back and support these heroes, enabling them to rebuild their lives through entrepreneurship. This not only resonates with a sense of duty but also enhances the reputation of the medical device manufacturer.
Diverse Perspectives and Innovation: SDVOSBs bring unique perspectives and innovative ideas to the table. Veterans have honed problem-solving skills in high-pressure situations, making them excellent contributors to product development and enhancement. Their diverse experiences and military training often result in innovative solutions that can lead to more advanced medical devices and equipment.
Adherence to Quality Standards: The military places a premium on precision, discipline, and quality. SDVOSBs are well-versed in adhering to stringent quality standards, which is a crucial aspect of medical device manufacturing. This focus on quality ensures that the products meet or exceed the highest industry standards, benefiting healthcare institutions and patients alike.
Enhanced Reputation and Trustworthiness: Collaborating with an SDVOSB not only fulfills corporate social responsibility but also enhances the reputation of the medical device manufacturer. It demonstrates a commitment to supporting veterans and their businesses, which can resonate with customers and partners, fostering trust and goodwill.
Positive Impact on the Federal Health Care System
The partnership between medical device manufacturers and SDVOSBs has a profound positive impact on the federal health care system, ranging from VA hospitals to the Indian Health Service. Here’s how:
Enhanced Access to Innovative Medical Equipment: Through this partnership, VA hospitals and Indian Health Service facilities gain access to cutting-edge medical devices and equipment. SDVOSBs’ innovative approach and commitment to excellence help improve patient care by providing advanced tools for diagnosis and treatment.
Cost-Efficiency: The collaboration with SDVOSBs can often result in cost-efficient solutions. These businesses are driven by their military discipline to optimize resources, which can translate into savings for the federal health care system, ultimately benefiting taxpayers.
Fulfilling Government Mandates: Federal agencies are often tasked with meeting specific contracting goals for SDVOSBs. By working with medical device manufacturers who partner with SDVOSBs, the VA hospitals and Indian Health Service facilities can contribute to fulfilling these government mandates, ensuring a diverse and inclusive supply chain.
Job Creation and Economic Impact: Collaborating with SDVOSBs not only supports veterans but also promotes economic growth. These partnerships create jobs, boost local economies, and contribute to the overall prosperity of the communities they serve.
At the end of the day, the positive impact of medical device manufacturers partnering with SDVOSBs is undeniable. These collaborations not only support veterans but also strengthen the federal supply system that fuels the federal healthcare network. Through their unique capabilities, SDVOSBs bring innovation, quality, and diverse perspectives to the table, benefiting both the medical device industry and the federal health care system. As medical device providers increasingly to recognize the contributions of SDVOSBs, it is evident that their involvement in federal contracting has far-reaching positive consequences for the healthcare sector and our nation as a whole.
To discuss your own federal health sales strategy, contact MellingMedical today.
