The medical company Medtronic Inc. has developed a system that enables physicians to check patients’ implanted cardiac devices via the internet. The patient can hold an antenna over his implanted device in order to collect data. The data is captured by the antenna, downloaded by the monitor and transmitted to the Medtronic CareLink Network. Physicians can review patients’ data, and patients can check on their own conditions and grant access to family members or other caregivers.

The patient with a cardiac device can now be monitored from anywhere in the world through a network of doctors in various locations. With information technology and wireless communication, a pacemaker becomes part of a network that includes the patient, doctor, other experts, hospitals and family. The pacemaker is no longer just a product. It is the nexus of a network. The value of the pacemaker derives from the experience and the ongoing sense of security and peace of mind that it provides the patient.

The Medtronic’s CareLink system goes beyond the cardiac device itself and unleashes opportunities for an expanding range of value creation activities. The technology platform can support a wide range of devices and remote monitoring/diagnostic systems, potentially used for monitoring blood sugar readings, blood pressure, brain activity and other important physiological measures.

Source: Prahalad & Ramaswamy (2004), Co-Creation