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LIKE ANY OTHER MEDICAL DEVICE DEVELOPMENT ACTIVITY, USABILITY TESTING REQUIRES RESOURCES AND TIME. HOWEVER, WITH SUFFICIENT PLANNING, USABILITY TESTING CAN SHORTEN THE OVERALL DEVELOPMENT SCHEDULE BY HELPING TO GUIDE THE
DESIGN IN A SUCCESSFUL DIRECTION AND EXPOSE USABILITY PROBLEMS THAT MIGHT SIGNIFICANTLY AFFECT THE SCHEDULE IF DISCOVERED TOO LATE.
When a new product or service is being evaluated, we perform key activities such as: Identification of the value for both patients and healthcare providers. Quantification of the potential global market. Scanning of Existing Direct & Indirect competition. Field-based verification of competitive advantage claims. Prioritization of the geographic areas
In other words, we perform all those activities that offer compelling, fact-based answers to our list of compelling questions about:
the value for patients, the value for health care providers, the payers, the buyers, the target opportunity, the path to sales & ROI.
Once the financial capital required to operate is totally or partially raised, Start-ups tend to redeploy the existing resources, those who have invented the product and brought it to VC’s attention.
In general, the competencies required for the first phases of product research and development are only partially fit to the future industrialization and commercialization phases.
The typical way to evaluate these gaps consists in building a credible commercial implementation plan including both details about the commercial organization and facts about the talents required to ensure successful implementation.
VCs usually have a deep financial understanding of their investment risk tolerance and sought returns while inventors usually have a deep technical and clinical understanding of the new product they are trying to bring to life.
We all are aware of how easy it can be to write market penetration rates, prices, volumes on a PowerPoint presentation. Investors know this too. This is why often the success of fund raising activities depends excessively on the historical credibility of the fundraising entity, or the pre-existing personal relationships and or the success of previous investment experiences instead of depending on rational processing of realistic assumptions.We strive to rebalance the fundraising experience from relational to rational.
Building Investment Credibility For new ideas, new products, new services, seeking investment, it is essential to build credibility with both current and potential investors. Pursuing this objective can be difficult. Indeed we have observed that there is a frequently an un-bridged knowledge gap between “inventors” and VCs .
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