Healthcare systems worldwide must maintain or improve standards of care in the face of increasing demand and, usually, decreasing budgets. Medical devices have the potential to solve or reduce many of these healthcare challenges.
However, healthcare resources are often so stretched that only the very best value propositions backed up by rigorous evidence of clinical outcome improvements and cost-savings presented to clinical and commissioning decision-makers, at the right time and in the right way, will transition from idea to commercial success.
Understanding the ways in which your idea or pre-proof of concept device could benefit and be adopted by healthcare will allow you to develop the technology most likely to lead to commercial success.
For example, the value of your idea to clinical practice and commissioner budgets may be concentrated within a single function or component of your grand vision for the device.
Wouldn’t it be better to focus proof-of-concept and future R&D on that function or component, to allow you to reach market sooner, than to persevere with a more complex solution that may be too difficult and expensive to prove, build or evidence?
JB Medical are experts in understanding the clinical and financial barriers facing innovative healthcare value propositions and identifying the pricing envelope in which your device will eventually need to be manufactured.
With proof-of-concept now established, you need to generate evidence that your device meets or exceeds certain performance limits.
This may require you test components of your prototype on patients and/or in clinical environments. Securing the support of clinical partners to partake in this R&D will require you to have persuasive evidence of the potential clinical outcomes and cost-savings that your future device could achieve, and a clear and robust plan for developing this device.
JB Medical can help you understand what performance claims you should aspire to achieve and support you to collect the evidence you require for market readiness, including medical device regulatory approval and peer-reviewed publications on technological performance.
With your device soon to be or already on the market, you will be eager to convert those years of R&D into commercial sales. JB Medical understands the options for increasing market appetite for your device.
We have been involved at every stage of Health Technology Assessment and NICE submissions, from clinical trial design through to reporting and publication.
We also understand the presentation of your clinical outcome and cost-saving evidence that will be most effective in persuading clinicians, commissioners and market influencers to commission your technology, helping to convert prospects into contracts and therefore increase shareholder satisfaction.