Chip shortage a ‘very real, critical’ health care challenge: Hologic CEO
Microchip shortage exacerbated by supply chain, pandemic resulting in ‘deferred' care and less medical screenings
Supply chain, chip shortage ‘very real, critical’ challenge: Hologic CEO
Hologic CEO Stephen MacMillan says the medical company is competing for microchips and asking for assistance from the Department of Commerce.
One health care executive is looking to raise awareness on the industry’s "critical" need for microchips and how the ongoing shortage consequently impacts Americans’ health.
"The chip shortage is very real," Hologic CEO Stephen MacMillan told FOX Business’ Maria Bartiromo on "Mornings with Maria" Wednesday.
"We're competing, frankly, we said, 'Hey, can you give us some instead of the video games?'" MacMillan added. "I think last I checked, [health care's] a little more important."
Hologic, a company that has pioneered three-dimensional mammography technology, has been forced to minimize its microchip use amid the shortage exacerbated by a disrupted supply chain and the pandemic.
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"We literally only use a few hundred chips a month," the CEO noted. "We're working with all of our suppliers. And the challenge is, even as Intel helps us out, we've got chips from other manufacturers trying to get them in, and we're such a small customer of theirs relative to the computer games."
Hologic CEO Stephen MacMillan says microchips are a "critical" tool for the health care imaging company, which has reportedly seen "deferred" care visits plunge amid a chip shortage exacerbated by the pandemic. (Getty Images)
The chip conflict has created "unintended consequences" for health care providers, according to MacMillan.
"Mammography visits plunged by over 90%… And the exact issue that you're hitting is we're now getting people that we're diagnosing later," he warned. "The key to the annual mammogram, and especially 3-D, is it detects things much quicker and earlier. It also has lower false positives."
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Medical device company sees screenings ‘plunge’ due to chip shortage, pandemic: CEO
Hologic CEO Stephen MacMillan discusses delayed health screenings and diagnoses due to a lack of microchips to build machines worsened by the pandemic.
MacMillan said a number of medical supply executives have formally reached out for federal assistance in bringing more chips to the U.S. market.
"The Department of Commerce actually is now getting involved, and actually a shout-out to Secretary [Gina] Raimondo," the CEO said. "She's actually showing some leadership that I've rarely seen out of Washington. So hopefully that will help to make a difference."