Business Implementation for Health and MedTech: Project to Market Overview

Course Description & Learning Outcomes

The workshop aims to equip health and medtech innovators who have a desire to learn more about the nuances, considerations and key network required to push their innovations towards market commercialization with basic to intermediate level knowledge relating to the market access, operational planning, intellectual property, regulatory and clinical trial planning competencies in the Health and Medtech Innovation Skills and Competencies whitepaper. At the end of this workshop, learners will be able to gain a holistic overview of bringing a health and medtech innovation from project to commercial adoption by developing IP, clinical, marketing and sales strategies, understanding the importance of health technology assessment, and the different strategies on how to strategically price, market and promote the adoption of a new healthcare innovation. Business Planning - Analyze market positioning by conducting in-depth market landscaping (competitive landscape, distribution channel, existing models) to develop a business plan with clear value proposition. - Demonstrates confidence in defending and pitching the business, networking and basic negotiation skill to initiate investment and partnership discussions. Market Access Competency - Apply understanding of healthcare value chain to elucidate identify the key stakeholders and factors influencing commercial viability of a product in target market (e.g., reimbursement infrastructures, key decision makers) and/or adoption into healthcare system - Apply principles of coding, coverage and payment. - Evaluate and analyse pricing and reimbursement schemes and healthcare economics across key target markets - Examine key channels in key target markets (e.g., public hospitals and clinics via tender and group procurement, private hospitals via private healthcare insurance and private procurement) - Prepare a preliminary health technology assessment for quick compare and contrast to identify key target markets and value proposition to enter - Derive initial pricing model and test deployment with select KOL users Intellectual Property Competency - Define the inventive concept and analyze its positioning to determine its strength and weaknesses to develop a good competitive IP advantage and filing strategy (i.e., patent vs knowhow) Regulatory - Understands the required regulatory and quality requirements, i.e., guidance documents, standards for different kinds of innovation projects; Able to design and carry out necessary tests and documentation. - Analyze different types of clinical trial strategies to meet clinical trial objectives - Explain the operational aspects and financial aspects required for a health and medtech company to function, including processes (e.g., procurement), people (e.g., key staff needed, key stakeholders to engage), resources (e.g., lab and office infrastructure, supply chain management, warehousing and distribution) and budget (e.g., operating expenses and COGS)