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> In any event, we need more talented entrepreneurs working on some of these issues and not fast-following to be the next cool photo/chat app...prepare to spend
by wmkn 13y ago
> In any event, we need more talented entrepreneurs working on some of these issues and not fast-following to be the next cool photo/chat app...prepare to spend 3-6 months just navigating the complexities.
Totally agree. The healthcare domain is incredibly difficult, especially for small companies that aim their product at medical professionals (speaking from experience here).
- As you said, who pays? There are a lot of different stakeholders in the purchase of a medical device: medical professionals, insurance companies, IT department, hospital risk management, etc. You need to consider them all.
- The healthcare market is incredibly conservative. If you have a fantastic product, but it requires changes to established processes, you need a really good story before someone will even consider purchasing it.
- The healthcare market is used to having products actively pushed to them. Standard marketing (e.g. nice website, advertising, etc) will not bring you customers. You have to keep in mind that medical professionals are used to "study" trips to locations with a nice beach.
- Medical devices (hardware, but also software) require CE certification, FDA approval or other forms of certification. Which can be expensive and time consuming.
- rficcaglia 13y agoPlan for 3-6 months just for contract approval, AFTER a yes. Also be very careful about IP when collaborating. Budget lots for lawyers, especially when selling to academic centers.