Measuring value is as important (and challenging) as clinical validation, but it’s a task that’s often ignored by many health tech ventures. 😕
Ventures need clinical data to prove their product functions as intended, safely and effectively. It’s a requisite to bringing a medical innovation to market.
The same holds true for economic impact data that confirms the value of medical innovation.
Lacking economic evidence that their innovation has value, many health tech ventures will falter. They’ll be blocked by payers and providers, fail to get traction, and lack the investor support needed to bring their innovation to market.
I’ve long advocated that ventures must include economic impact validation in their GTM roadmap, to demonstrate that health tech innovation will have a positive impact, and value, to payers, providers, and the greater health community.
Recently, I had the pleasure to meet John Schneider, the CEO of Avalon Health Economics LLC.
Avalon Health Economics LLC provides detailed Health Economics and Outcomes Research (HEOR) studies. They analyze potential market size and design of rigorous economic evaluations and research that yield insights into the impact, and value of health tech startup ventures.
His firm designs and administers the types of economic impact studies that most med-tech ventures will need to gain traction in their markets.
After sharing stories and experiences, John and I see how our firms, Digital Health Works and Avalon Health complement each other, and our clients.
With that, we decided to formalize our partnership.
I am indeed looking forward to working together with John and his team, as we both are on a shared mission to support digital health and med tech ventures to bring their innovations to market.
#economicvalidation#medtechinvestment#startup#digitalhealthworks
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📈 💸 🎉 I develop commercialization programs for #digitalhealth and #medtech ventures.