President of U.S. Surgical and Global Product & Enabling Technologies, Enovis
Search every verified Tim Czartoski interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Tim Czartoski, president of U.S. Surgical and Global Product & Enabling Technologies at Enovis, delivered a talk in September 2022 at the AHF conference titled "The Usefulness of Technology – A Perspective from Industry." During the presentation, he discussed how companies evaluate and invest in medical technology. He noted that the price of technology tends to decrease over time, using the example of a Toyota Camry whose cost remained around $21,000 over 20 years despite significant digital upgrades. Czartoski stated that traditional valuation models like discounted cash flow are inadequate for technology because indirect returns are difficult to predict, and companies must instead place bets on which technologies will shift the "s-curve" of innovation. Czartoski also addressed challenges related to data in healthcare. He said that 90 percent of big data projects fail due to a lack of clear definitions for data needs and use cases. He emphasized the importance of data integrity, security, and patient ownership of data, and noted that regulatory pathways through the FDA remain a challenge. He described Johnson & Johnson's approach to innovation as relying on an open platform that includes global innovation centers
“The price of technology comes down over time. This Camry versus the first one connected with whatever she wants to do with her iPhone, lots of technology, completely digital in 2016. We've jumped the s-curve of technology in cars; we've gone up the s-curve and evolved with cars—they became more connected.”
“Technology is everywhere and everything that we touch, but it's connected and the connected part of it makes a big difference in terms of data collection and what we do with that data. It's not just data; it's what we do with and interpret the insights we generate.”
“90 percent of big data projects fail because there's not a good definition of what data is needed and what the use case is and what you want to accomplish. So when you think about technology, you have to zone in on what's important.”
“The integrity of the data, the cleanliness of the data, how you manage the data, who owns it, how you integrate it—it's not an easy undertaking. Quite frankly, the patient owns their own data, right? Regulatory pathways for all the technologies and getting through the FDA is a challenge.”
“Security is incredibly important. You can imagine a company like Johnson & Johnson—we're a target for pretty much everything, whether it's lawsuits, liability, or because we're an international Fortune 500 company. People come after us, so we have to make sure we're secure in our data systems.”
“The essence of the question for us is value creation and technology, but how do we have value captured? Some of it, like Tesla versus the Camry, you have to invest more in technology because you're not going to be left behind. Some of it we as a company have to take those risks and decide what we invest in and what we...”
“The value equation is outcomes over cost; both of these things—the rubber band—have to decrease costs and increase outcomes. We're all set up to do that, and when you think about what it requires to do that, efficiency and partnership are key.”
“Historically, valuation of technology or any asset is a result of discounted cash flow. That model doesn't work with technology because you can't figure out all the direct and indirect returns. You have to place bets on which technologies will shift the s-curve of technology.”
“If you don't invest in technology and you don't innovate, you will not jump the s-curve and everybody else will. But there's a balance to all that.”
“At Johnson & Johnson, we approach innovation with a global network of innovation centers, investment banking, and our own development. We can't afford R&D alone; we have to have an open platform for innovation with a balanced strategy on buy versus build, investing in startups, and partnering with surgeon and business...”
A talk by Tim Czartoski of DePuy Synthes entitled The Usefulness of Technology – A Perspective from Industry at the 2022 AHF ...
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