Malcolm Baldrige Criteria

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Oultine of criteria for Malcolm Baldrige process

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Malcolm Baldrige Criteria

  1. 1. Malcolm Baldrige Criteria for Performance Excellence in the Medical Device Industry <ul><li>Dickson Consulting </li></ul><ul><li>351 Old Babcock Trail </li></ul><ul><li>Gibsonia, PA 15044 </li></ul><ul><li>724-272-1527 </li></ul><ul><li>[email_address] </li></ul>
  2. 2. Malcolm Baldrige Criteria <ul><li>Top down approach </li></ul><ul><li>Leadership in each functional area of the organization </li></ul><ul><li>Intended to promote quality, not simply an award </li></ul><ul><li>Fits well with medical device industry regulatory requirements </li></ul><ul><li>Additional information on Malcolm Baldrige National Quality Award (“MBNQA”)—www.baldrige.nist.gov/ </li></ul>
  3. 3. Medrad Inc.-Medical Device Company That Won MBNQA <ul><li>Medrad is a provider of medical devices and services that enable and enhance imaging procedures of the human body. Used in diagnostic imaging, Medrad's product offerings include a comprehensive line of vascular injection systems, magnetic resonance surface coils and patient care products, and equipment services. Total 2005 revenues were $411 million. </li></ul><ul><li>Medrad is a 2003 recipient of the Malcolm Baldrige National Quality Award. </li></ul><ul><li>The company’s world headquarters is near Pittsburgh, Pennsylvania. Medrad is a U.S. affiliate of Schering AG, Germany (NYSE:SHR). </li></ul><ul><li>Additional information on the Medrad’s award: </li></ul><ul><li>-www.medrad.com/about-medrad/mbnqa/index.html </li></ul><ul><li>-www.nist.gov/public_affairs/baldrige2003/Medrad_3.3.04.pdf </li></ul>
  4. 4. Specific Baldrige Criteria <ul><li>Baldrige criteria available for: </li></ul><ul><li>-Business (a medical device company perspective) </li></ul><ul><li>-Health Care (a medical device company customer perspective) </li></ul>
  5. 5. Baldrige Criteria for Performance Excellence <ul><li>Leadership </li></ul><ul><li>Strategic planning </li></ul><ul><li>Customer and market focus </li></ul><ul><li>Measurement, analysis and knowledge management </li></ul><ul><li>Human resources focus </li></ul><ul><li>Process focus </li></ul><ul><li>Business results </li></ul>
  6. 6. Why Baldrige? <ul><li>Framework not prescriptive </li></ul><ul><li>All inclusive </li></ul><ul><li>Focus on common requirements </li></ul><ul><li>Adaptable </li></ul><ul><li>Leading edge of management practices </li></ul>
  7. 7. Self-Assessment <ul><li>Identify boundaries of the organization </li></ul><ul><li>Select champions for business categories </li></ul><ul><li>Decide on format and scope </li></ul><ul><li>Prepare organizational profile </li></ul><ul><li>Practice self assessment techniques </li></ul>
  8. 8. Self-Assessment-Continued <ul><li>Select business category teams </li></ul><ul><li>Share responses/finalize findings </li></ul><ul><li>Prioritize key strengths/opportunities for improvement </li></ul><ul><li>Develop and implement an action plan for improvement </li></ul><ul><li>Evaluate and improve your self-assessment and action process </li></ul>
  9. 9. Integration of the Baldrige Criteria <ul><li>Integrated strategy </li></ul><ul><li>-Cross functional approach </li></ul><ul><li>-One long-term strategy </li></ul><ul><li>Integrate with: </li></ul><ul><ul><li>-Medical device regulatory requirements </li></ul></ul><ul><ul><li>-Performance management system </li></ul></ul><ul><li> -Sarbanes Oxley </li></ul><ul><li> -Toyota Production System concepts </li></ul><ul><li> -Six Sigma </li></ul><ul><li> -Economic value added (EVA) </li></ul><ul><li> -ISO </li></ul><ul><li> -Benchmarking </li></ul>
  10. 10. Dickson Consulting Presentations Available <ul><li>Critical Success Factors for a Medical Device Company </li></ul><ul><li>Listing on the London Stock Exchange AIM Market </li></ul><ul><li>Overview of the Stark Laws </li></ul><ul><li>Medical Device Industry Updates </li></ul><ul><li> - June 23, 2006 </li></ul><ul><li> - June 30, 2006 </li></ul><ul><li>- July 7, 2006 </li></ul><ul><li> - July 14, 2006 </li></ul>
  11. 11. Services of Dickson Consulting (With a Focus on Medical Device Companies) <ul><li>Board of Directors representation </li></ul><ul><ul><li>Designated financial expert </li></ul></ul><ul><li>CEO/COO/CFO services </li></ul><ul><li>Strategic planning facilitation </li></ul><ul><li>Financing assistance </li></ul><ul><li>Exit strategy and M&A assistance </li></ul><ul><li>Other special projects </li></ul>
  12. 12. Disclaimers <ul><li>This report is not intended to provide investment advice or any other advice on any company mentioned. </li></ul><ul><li>The information in this report is believed to be correct but no assurances are provided that the information is correct. </li></ul><ul><li>Events may have occurred that are significant that are not mentioned in this report. </li></ul>

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