Things non-clinical med-tech founders often overlook… Coming from someone who has spoken to many med-tech founders without a medical background, and has been there done it myself as a previous med-tech founder… 1. Understand the healthcare system you’re targeting 🌞 For example, the NHS prioritizes cost-effectiveness and operates with a centralized procurement system emphasizing evidence-based decision-making. 🔍 Key Insight: Your technology must demonstrate clear benefits in patient outcomes AND cost savings to be adopted. No, it isn’t possible to expand to X healthcare system with the same strategy! 2. Public vs. Private Healthcare Systems🌞 Navigating between public and private systems requires different strategies: Public Systems: These focus on universal care and equitable access. Compliance with regulatory standards is non-negotiable. Private Systems: These often prioritize innovation and patient satisfaction. Adoption cycles can be faster but require demonstrating a solid ROI. 3. Collaborate with Clinical experts🌞 Engage early with clinical experts, not just for clinical validation, but also to understand the system as well, ie., will this integrate well into the practice? PS. Looking for an opportunity to chat to more young people in medtech? I’m hosting a brunch on Wednesday! PPS. If you’re a medtech founder looking to knock the worlds' socks off, my DM’s are open!🚀 #MedTech #HealthcareInnovation #Founders
Great points Jenny! The first point about improving patient outcomes and cost savings is something I’ve learnt and can see why it’s super important
Managing partner & Founder at Nytrogen I Venture Studios and cool stuff that adds value I Medtech & Biotech
6mohttps://lu.ma/7ows7h0u Link to the brunch :)