Crimson Life Sciences Release: U.S. Medical Device “Total Cost of Content” Estimated at over $1 Billion
10/18/2011 10:23:44 AM
BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Crimson Life Sciences, a division of TransPerfect and the world’s only ISO 13485 and ISO 14971 certified translation provider, today released a new research memo documenting the “Total Cost of Content” for medical device makers. According to U.S. manufacturers’ estimates, the total cost associated with creating, approving, updating, maintaining, translating, and formatting content in the key areas of Regulatory, Marketing, and Training amounts to approximately 1 percent of revenue, or $1 billion per year. Based on implementation of content and translation management strategies and technologies, Crimson estimates potential savings of up to 40 percent of this total ($400 million). Crimson’s research memo is available for download here.