Your clinical studies and sales activities are stalled right now, but what happens when we’re post-pandemic and everyone starts their engines at the same time? How long will it take to get clinical trials back online – and how much will that cost you in the long run?
Medtech companies that are preparing now will be ahead of the curve. Waiting until the floodgates have opened will delay your commercialization and can be hundreds of times more costly than a smart and minimal investment now.
Here are some steps you can take for less than $500/day over the next 90 days to avoid losing millions over the lifecycle of your technology:
Identify Data Gaps and Make Plans to Fill Them
Evaluate your current data and strategic plans to determine whether you have both pieces critical to your market success – the clinical AND economic evidence that you need to influence stakeholders. If not, you need to plan to fill them ASAP.
Add Collection of Economic Data to Your Study Protocols
Medical resource utilization and charge data gleaned from participating facilities can be used to build highly impactful facility-focused and payor-focused value propositions. If you aren’t collecting this data, now is the time to determine how to add it.
Use Real-World Evidence to Demonstrate the Economic Value of Your Product
Literature-based health economics models can show how your technology reduces costs, improves outcomes, and improves the patient experience. Now more than ever, they can be instrumental in communicating the value of your technology to stakeholders.