Best-Path EMT is a service offered by HEI that provides emerging medical device companies rapid review and analysis of their business plans, technology concepts, and competition. It aims to strengthen business plans, demonstrate technical feasibility, identify opportunities for differentiation, and improve understanding of the competitive landscape. Best-Path EMT can help startups reduce risks, avoid costly mistakes, and improve their chances of obtaining funding. It leverages HEI's experience to provide an outside perspective and ensure companies are developing the right product for the market.
A 50 page, easy-read E:Book taking you through the key considerations for deciding whether your Medical Device idea could eventually become a viable business.
This Case Study highlights how “marrying” a Trade-Off Analysis technique called a Conjoint Analysis with Due Diligence was used to assess and ultimately consummate a major New Business Acquisition Deal for a healthcare company. Like a “flu shot”, Due Diligence helps you prevent the flu now so that you may not have to deal with the problems later. Therefore, performing Due Diligence will weigh the risks and benefits of making major business decisions.
Conjoint Analysis is a “powerful” quantitative marketing research tool. Conjoint Analysis helps Marketing measure and quantify the inherent value that consumers place when “trading-off” having or not having certain product or service features. Conjoint Analysis can be used to model and simulate the current and future competitive market situations.
As a result, the method can add significant and convincing insight when conducting Due Diligence to gauge the risk-reward “trade-offs” of major product development or business acquisition decisions.
Enhancement in NDT inspection for operational effectiveness, efficiency and e...Innerspec Technologies
We intend to show that any change shall be linked, not only to improvement, but also to immediate cost reduction so that all management structure can conceive quick implementation as
part of its department strategy & enhancement in their budget cost.
For that, concepts such as effectiveness, efficiency and excellence must be approached. We will give clear saving cost ways which will follow the terminology.
In Financial terms and without a deep analysis, we can conrm cost savings above 30% from current prices are achieved.
Translate attributes into compelling benefits that will inspire customers to take action: Strategy, tips, tools: How to win customers and reach results effectively
A 50 page, easy-read E:Book taking you through the key considerations for deciding whether your Medical Device idea could eventually become a viable business.
This Case Study highlights how “marrying” a Trade-Off Analysis technique called a Conjoint Analysis with Due Diligence was used to assess and ultimately consummate a major New Business Acquisition Deal for a healthcare company. Like a “flu shot”, Due Diligence helps you prevent the flu now so that you may not have to deal with the problems later. Therefore, performing Due Diligence will weigh the risks and benefits of making major business decisions.
Conjoint Analysis is a “powerful” quantitative marketing research tool. Conjoint Analysis helps Marketing measure and quantify the inherent value that consumers place when “trading-off” having or not having certain product or service features. Conjoint Analysis can be used to model and simulate the current and future competitive market situations.
As a result, the method can add significant and convincing insight when conducting Due Diligence to gauge the risk-reward “trade-offs” of major product development or business acquisition decisions.
Enhancement in NDT inspection for operational effectiveness, efficiency and e...Innerspec Technologies
We intend to show that any change shall be linked, not only to improvement, but also to immediate cost reduction so that all management structure can conceive quick implementation as
part of its department strategy & enhancement in their budget cost.
For that, concepts such as effectiveness, efficiency and excellence must be approached. We will give clear saving cost ways which will follow the terminology.
In Financial terms and without a deep analysis, we can conrm cost savings above 30% from current prices are achieved.
Translate attributes into compelling benefits that will inspire customers to take action: Strategy, tips, tools: How to win customers and reach results effectively
A gestão de negócios passa por transformações em relação aos interesses coletivos.
O compromisso institucional perante o desenvolvimento sustentável faz se necessário.
É preciso desconstruir o modelo mental anterior e gerar novos instrumentos de ações.
Learn about the 10-Step Strategic Account Alignment Process:
- See the 10-step account planning and implementation process using real-world examples
- Focus on 3 of the biggest challenges facing strategic account management programs
- Learn the unique approach that Global Partners uses for the account planning and management process
A gestão de negócios passa por transformações em relação aos interesses coletivos.
O compromisso institucional perante o desenvolvimento sustentável faz se necessário.
É preciso desconstruir o modelo mental anterior e gerar novos instrumentos de ações.
Learn about the 10-Step Strategic Account Alignment Process:
- See the 10-step account planning and implementation process using real-world examples
- Focus on 3 of the biggest challenges facing strategic account management programs
- Learn the unique approach that Global Partners uses for the account planning and management process
Medici Technologies common problems with data analysisRiesRobinson
Presentation on data analysis problems for small life science companies. Presentation explains the problems and how Medici Technologies fills this need. Medici accelerates client progress toward goals using a structured approach that incorporates project management, parallel algorithmic assessment, optimization, robustness testing, and validation.
An ultimate guide to healthcare technology consultants.pdfLaura Miller
Investing in healthcare technology consultants helps you make your business process streamlined. Read the blog to know more about IT consulting healthcare.
Building the Right Product vs. The Product RightMojoTech
Striking a delicate balance between creating the desired product and developing it flawlessly is a distinction often overlooked by those who question a Product Managers necessity or a development partner's qualifications.
Building the Right Product:
Conducting a thorough Product Discovery, addressing key questions, and understanding stakeholder goals and requirements are vital steps to mitigate faulty assumptions and deliver a successful solution.
Building the Product Right:
Only focusing on building the product right risks developer-centric outcomes. A PM's expertise is crucial for non-technical teams and Product Owners to balance technical requirements and product goals.
Delivering more effective marketing through the right technologyJeffrey Evans
ADMA Whitepaper looks at;
What comprises the technology stack
How to define the stack for your organisation
How planning ahead can help drive successful implementation
Choosing the best way of implementing your technology stack
Future developments in products and providers
Addressing the skills gap
Conclusions for marketers
Deactivated
Kelie Hein
3 posts
Re:Topic 1 DQ 1
Two GCU library scholarly databases that will help me find the best research articles for my proposal are two databases that I appreciate, and currently use often: CINAHL Complete and PubMed. I like CINAHL Complete because it is quite specific to nursing. It also provides many full text articles free of charge, which is unfortunately not that common. Some databases provide only abstracts, and some require one to purchase the article (which can be 50 dollars!). I like PubMed because it has a wide array of health science articles that are peer-reviewed, but often have language that is easier to understand. PubMed is also quite user friendly.
These two databases are better than Google Scholar and/or a general internet search, for several reasons. While Google Scholar provides scholarly articles, it can sometimes be difficult to limit the search. Inexperienced users an easily become overwhelmed with the amount of data the search returns. A general internet search is not only daunting in terms of qualified research, but can be dangerous as well: Wikipedia sources, the evil of internet research, are often returned with general internet searches. Anyone can post on Wikipedia (and the internet in general). Scholarly databases are the safe way to go: safe for the researcher, and safe for the patients under the researcher’s
1
3
Strategies That Facilitate Influencing Power
AcelRx Pharmaceuticals Inc Company
STRATEGIES THAT FACILITATE INFLUENCING POWER
Acel Rx Pharmaceuticals Inc. has always provided quality service to its clients but the adoption of an online drugstore is a project that could make the services even better. However, various measures have to be put into place to facilitate the success of the project.
Strategies to Adapt Organizational Change
To adopt the online marketing and networking with customers then the Acel Rx Pharmaceuticals Inc. has to undergo some organizational change. Though the internet is the Internet could enable profound changes in the nature and structure of the healthcare industry and, ultimately, the delivery of healthcare services its adaptions should be strategic. First, there is need to carry out the change in phases with the start-up phase being clarifying the expectations and roles, assessing readiness, contracts and getting buy-in. In this phase is usually where the relationship between you (the initial change agent) and your client starts, whether you are an external or internal consultant. This means that Acel has to establish who its clients actually are, define the project conduct field research on the opinions of the customers after which they have to make the customers feel the problem at hand and the need to adopt this new technology which is aimed at making things better. It is important that the change agent should have good communication skills both verbal and non-verbal and a good listener.
Second in line is a jo.
Enterprise Risk Management: Minimizing Exposure, Fostering Innovation and Acc...Cognizant
Formal policies and processes for enterprise risk management (ERM) are common among large corporations, such as those in finance and healthcare. However, most technology-focused companies consider ERM an obstacle to innovation. When properly implemented and maintained, an enterprise risk management program can lessen risk, accelerate strategic development, drive innovation and bolster bottom-line growth.
OBJECTIVES PHASE ONE STEP ONEFastCat is a small to medium s.docxhopeaustin33688
OBJECTIVES PHASE ONE STEP ONE:
FastCat is a small to medium sized company that provides medical software to healthcare establishments to assist them with the ease of accessing information for the office staff as well as their patients. Since FastCat is competing with much larger companies and the industry is experiencing increased demand due to government regulations they must be aware and fulfill their objectives to ensure success. FastCat must improve the flow of information and data reporting to be certain patients are receiving the correct treatment.
The first objective is to improve the care of patients and make sure that doctors and patients have the information they need when they need it. To do this they will need to focus on the patient-physician interface, provide web and mobile services, ensure the ease of communication between physicians and patients, provide privacy to users, and make their systems error free.
Supporting this objective is the objective to make sure they keep cost down; not only to help them increase revenue but to make their software affordable to customers. To help increase revenue FastCat will try to shave off or better train customers who are requiring a lot of resources and making the company little to no profit. Implementing training programs for medical staff,physicians, and patients will be important to make sure they know how to properly use the products on their own. This is also related to the company objective of efficiency. FastCat will try to move some of their support and manufacturing offshore in hopes to lower cost, but not quality. FastCat wants to be cautious that lowering cost will never lower quality or efficiency; two things they believe the company is established off of.
Keeping cost down for the customers will be extremely important in retaining current customers and acquiring new customers because the demand is increasing.
This leads me to another major objective of creating a competitive advantage that is sustainable. FastCat wants to offer their customers customized packages while their competitors only offer standard packages. Right now the demand is at its peak but when everything settles down FastCat hopes to have created an advantage that they can sustain and drive out competitors who entered the industry during the growth.
The HITECH Act provides FastCat with an incredible opportunity to grow their customer base and increase profits in a short period of time. In order for FastCat to compete in the health information technology boom, they need to attract many more quality employees to their company. With the $30 billion dollars the government is investing into the HITECH incentive program, Fastcat will be able to spend more on human capital, in order to keep future employees from going to other competing companies.
Another staple objective is the goal to grow the company. FastCat wants to acquire new customers as well as retain old ones. They hope to create new features a.
What Is Your Value PropositionIn this weeks Tio video, Aus.docxkendalfarrier
What Is Your Value Proposition?
In this week's Tio video, Austin talks about his belief in his product as a new type of savory snack meal that could appeal to busy Americans. Here he is discussing his value proposition for the customer segment he serves.
Read the definitions below for Market (Customer) Segments and Value Proposition, and think about how they apply to your new idea:
MARKET (CUSTOMER) SEGMENTS: Defines the different groups of people or organizations an enterprise aims to reach and serve.
VALUE PROPOSITION: Describes the bundle of products and services that create value for a specific Customer Segment.
Then, for your initial post, answer the questions below:
For whom are you creating value?
Who are your most important customers and where is the customer experiencing the product or service (in person, online)
What value do you deliver to the customer? Which customer needs are you satisfying?
Which one of your customer’s problems are you helping to solve?
Post your initial response by Wednesday, midnight of your time zone, and reply to at least 2 of your classmates' initial posts by Sunday, midnight of your time zone.
1st person to respond to
JWI 575 Week 3
What is Your Value Proposition?
Targeted Customers
The process of clinical trials is a significant part of the overall investment necessary to develop a medical device (or drug) (FDA, 2014). In other words, the act of performing clinical trials does not directly regenerate revenue nor profit as it is a procedural task within a medical device development program. However, the idea I propose will tackle (i.e., will offer an innovative solution) the high rate of nonadherence or noncompliance within the clinical trial participants (Alsumidaie, 2017). Also, it will provide a method to monitor compliance for patients undergoing a prescribed therapy treatment. In particular, the product/service will focus on the "pulsed electromagnetic field" (Hetch, 2020) (PEMF) therapies, which is one of the main markets my company serves.
This product/service solution will target two main customer categories:
PEMF Clinical Trial Leaders and Researchers (internal or external customer)
: This customer is responsible for obtaining inputs and insights from internal and external partners and clients to design, coordinate, and execute clinical trials that can deliver the expected/needed evidence to support the commercialization of a new medical device or drug (Genentech, 2021). The clinical trial leaders and researchers manage a substantial workload under tremendous pressure and urgency (Genentech, 2021). The proposed solution will reduce the clinical trial coordination and supervision time, reduce the overall cost, and elevate the data quality and outcomes resulting from the study.
Clinicians (external customer)
: Modern PEMF medical devices are used by the patient at home (i.e., the patient can self-administer the therapy without a technologist or caregiver). The ".
Medical Device Reimbursement - Lean Startup MethodologyAmir Inbar
In this article we provide a real-life example of a failure by one of our clients and suggest a proven process to implement Lean Startup methodology to decrease the likelihood of such failures.
When you partner with NextGen Healthcare, you benefit
from our Implementation and Training professionals. You get a database built to your specifications and installed while we handle end user training, go-live support, and post-live assessment and optimization. We do that so you
can continue to practice medicine.
The 10 most impactful healthcare solution providers of 2019Mirror Review
In the magazine, “The 10 Most Impactful Healthcare Solution
Providers of 2019,” we have featured the companies which are helping
the industry to become smarter and more efficient by providing their
out-of-the-box solutions and services. These companies include,
Camomile Healthcare Ventures, Canadian Plasma Resources,
Conversa Health, and Medbelle. We have also explored how these companies are benefiting the various parts of the pipeline.
https://www.mirrorreview.com
https://blog.mirrorreview.com
1. Best-Path EMT
Emerging Medical Technology
HEI Advanced Medical Operations
DRAFT 10/3/2007
Executive Summary
There is an old saying in the venture capital business: VCs invest in five things – the
people, the people, the people, the product and the market. Additionally, it’s not just the
people who start the company – it’s the resources they can bring to bear at critical
junctures to take the company to the next level.
Best-Path EMT can increase a startup’s access to some of the brightest medical device
design talent at the very start of their business plan development where mistakes and
missteps are the most costly and the most difficult to correct. Best-Path EMT is designed
to enable emerging medical device companies to analyze, evaluate, and extend their
business plan in days rather than through months of painful trial and error.
Best-Path EMT allows emerging medical device companies to instantly draw on the
wealth of human and technical resources available at one of the premiere medical
outsourcing companies to:
1. Demonstrate that the concept has the technical feasibility to enable it to serve a
large, rapidly growing opportunity.
2. Help to identify elements that are truly differentiable in a sustainable way.
3. Provide a strong understanding of the competition including both the direct
competition as well as other forces competing for the same dollars.
Some venture capital firms have estimated that less than a third of venture-funded
projects ever come close to achieving the numbers in their original business plan. Best-
Path EMT brings focus to the medical device startup business plan and eliminates
common pitfalls. The result is dramatically reducing the probability that a critical element
has been missed that would significantly impact the company’s ability to meet its plan.
With HEI’s Best-Path EMT you have confidence not only that you’re making the product
right but that you’re making the right product.
Overview of Best-Path EMT
Best-Path EMT is primarily focused on medical device startups in the Due Diligence or
Funding Phase. It can be combined with a complete Best-Path program or utilized as a
standalone program. Best-Path EMT is a rapid business plan review, technology analysis,
and competitive review that leverages the over 30 years of experience at HEI in
delivering complex electro-mechanical medical instrumentation products to market. Best-
Path EMT provides the confidence that not only is the idea “great” but this great idea can
HEI, Inc. Advanced Medical Operations, 4801 N. 63rd Street, Boulder, CO 80301
720-622-4100 Fax: 303-530-8291
2. be realized in a manner that provides a sustainable differentiation. Think of Best-Path
EMT as insurance for the medical device business plan.
Each Best-Path EMT program is customized for the client. For companies at the early
stage of business plan development, the program can dramatically speed up this process
by identifying those areas that require additional research prior to seeking funding. These
companies also benefit by ensuring that the scope of their concept represents a
compelling need in the marketplace. Companies who are actively seeking funding utilize
the program to provide a laser-like focus to the business plan and to incorporate feedback
they have received from the venture capitalists and prospective customers they have
already spoken with. Companies that have received funding utilize the program to
accelerate the development of product requirements and to identify critical development
issues early in the design process. Best-Path EMT programs range from several days to
several weeks depending on the needs of the client.
The complete Best-Path program delivers a structured methodology for developing the
strategies and associated documentation to put clients on the road to a product launch that
meets user and FDA requirements, at the target cost, and within a predictable schedule.
Best-Path minimizes the risk for medical instrumentation companies ensuring the best
possible confidence to proceed to formal product design and market deployment strategy.
A complete Best-Path program can be as short as a week or can take several months
depending on the needs of the client.
Going from Best-Path EMT to a complete Best-Path program provides a seamless means
of ensuring the most rapid time to market.
Business Plan Analysis
Best-Path EMT is not a consulting program. What we have seen over and over again is
that when you put highly motivated, talented, technical people together to discuss state of
the art technology, new and exciting concepts and insights emerge. Best-Path EMT
provides a framework that encourages this dialog to our clients’ advantage.
Entrepreneurs often are unable to clearly explain the opportunity represented by their new
technology and the resulting business plan often fails to achieve the objective of telling
the company’s story in a clear fashion. This can be a chief reason that a company has
difficulty in obtaining funding. Best-Path EMT begins by asking the client to describe the
benefits the technology provides the customer in a sentence or two. Quite often
developing this “elevator sales pitch” is extremely difficult for entrepreneurs but is key to
a successful business plan.
It is also common that clients do not have an understanding of how to properly segment a
market in a way that allows the company to dominate or nearly dominate a well identified
segment or sub-segment. For example, a technology may have applicability to a number
of cardiac indications but focusing on a congenital cardiac defect with the potential to
provide a product that dominates this sub-market can often be the preferred path.
HEI, Inc. Advanced Medical Operations, 4801 N. 63rd Street, Boulder, CO 80301
720-622-4100 Fax: 303-530-8291
3. On the other hand, technologists sometimes are unable to recognize the broader potential
for a technology. Best-Path EMT assists in broadening the scope of possibilities by
drawing on the wealth of experiences available within HEI. HEI is constantly presented
with new product designs and is uniquely qualified to help broaden the client’s view of
other technology applications. In one instance, a client was targeting a product to the
measurement of mental acuity. By working with HEI, it was immediately recognized that
the technology had significantly more potential in much larger markets than what the
client had previously recognized. It was simply a case of not seeing the forest for the
trees.
Technical Feasibility
There are also numerous stories where a handful of brilliant scientists and engineers
disappear into a basement and emerge months later with an absolutely revolutionary
medical device concept that should take the market by storm. Unfortunately no one on
this team has ever commercialized technology before and is unaware of all of the
potential pitfalls and requirements imposed by not only the market but by the highly
regulated environment in which these products operate.
The focus of Best-Path EMT is to dramatically raise the confidence of the technical
feasibility of the concept by focusing the concept on must haves rather than not nice to
haves in such a way that the “customer’s business pain” is clearly identified
Best-Path EMT works with the client to begin the process of:
• Developing a comprehensive list of product requirements
• Identifying Must Haves rather than not Nice to Haves
• Identifying design unknowns
• Identifying required prototyping
• Developing a critical requirements list
• Developing a risk control measures list
We ask questions like “what is the technical risk, how do we solve it and how do we
declare victory” or “if we can’t solve the problem what is our risk mitigation”? Once we
have clearly defined objectives and goals for the known technical risks, we document the
things that are not known about the design. We ask questions like “is there a temperature
constraint on the assay that we do not understand” or “will the cost model affect the
outcome of a particular solution”? We document questions like these in order to give a
more balanced perspective to the solution, e.g., does it meet the user, financial model,
timeline and appropriate level of risk for our client? It is often useful to define physical or
empirical models to answer the questions. There may be laboratory experiments that need
to be run or simulations or calculations that need to be performed to provide data back to
the questions being asked.
As part of the process of discussing the technical feasibility of a concept, Best-Path EMT
works to ferret out development concerns that the client might not normally see until
HEI, Inc. Advanced Medical Operations, 4801 N. 63rd Street, Boulder, CO 80301
720-622-4100 Fax: 303-530-8291
4. many months into product design. In one instance, a client had proposed a hardware
product that would collect data for transmission over the Internet for analysis. It had not
occurred to the client that the proposed architecture could raise serious HIPAA (Health
Insurance Portability and Accountability Act) concerns. During these discussions, it was
a simple matter to change the proposed architecture to address these concerns. If the
client had gone forward with the original architecture, the HIPAA concerns might not
have been recognized for many months and correcting the architecture could have been
extremely expensive. This small realization could well have made the difference begin
success and failure for our client.
Identify sustainable differentiable elements
Differentiation is an integrated set of actions designed to produce or deliver goods or
services that customers perceive as being different in ways that are important to them.
The key to successfully marketing a new medical device concept is differentiation. For
companies seeking venture capital, it is crucial to make sure the company is addressing
not just a need, but a compelling need. One way to know if the need is compelling is
when potential customers tell you “I’d switch our budget priorities to buy your product!”
In this case, they are saying that they’d do without things they already need to have your
product. This is the home run of differentiation and is what all companies should strive
for.
Best-Path EMT provides the framework to help the client identify truly differentiable and
compelling features of their concept. In many instances we find that clients have become
focused on a “gee whiz” aspect of the concept which, while technically interesting,
simply is not a compelling differentiator. This is often a difficult pill to swallow but
focusing on the actual benefits delivered by the product is key to a successful business
plan.
We also find that clients do not recognize the value in leveraging existing technology.
For instance, many products contain some sort of microcontroller-based analysis engine.
Rather than reinvent this wheel, the client may find it more beneficial to leverage a
standard design such as HEI’s Medical Design Framework that provides:
• A Processor Family and Development Environment
• Software Modules
• Connectivity Modules
• DSP Modules
Since HEI has such a broad understanding of current products in the medical device
market, it is common for capabilities that a client feels are less important to actually be
recognized as novel and the basis for significant differentiation. These “I don’t think
anyone has done that before!” moments often lead to spirited discussions that can have a
significant positive impact on how the company positions its technology.
Understanding the competition
HEI, Inc. Advanced Medical Operations, 4801 N. 63rd Street, Boulder, CO 80301
720-622-4100 Fax: 303-530-8291
5. One of the most fundamental elements of any successful startup is its ability to serve a
segment of customers better than its competitors. However, many business plans are
weak in understanding the competition. Additionally many define the competition much
too narrowly. Understanding the real world issues of competition is critical to the
business plan.
Many companies also fail to recognize that their competition is not just other medical
device companies. In fact, the competition is anything or anyone that competes for
precious budget dollars and the staff needed to evaluate, recommend, and utilize the
product.
The Best-Path EMT process encourages a dialog about who the client believes is the
likely competition and how their concept can win in the market. Often the client has
awareness of direct competition and lacks the broad view of the medical device market
that HEI has. Additionally, since HEI is constantly seeing designs from numerous other
startups, we have an excellent view of emerging trends of which the client may not be
aware.
Conclusion
Startups benefit with Best-Path EMT by bringing forward in time key analyses of the
business plan, technical feasibility of the concept, differentiation, and competition. Issues
and concerns are raised and solved much earlier in the process saving both time and
money for the startup.
Best-Path EMT also allows the startup the opportunity to have a larger view of the
technology and the market by leveraging HEI’s over 30 years of experience in the field.
In some instances, this leads to recognizing that the technology has broader applicability
than originally anticipated which can provide a stronger case for funding.
Best-Path EMT can be combined with an entire Best-Path program. Best-Path begins with
a formal analysis of the technical challenges that may lie in the project and prove them
out before proceeding with more product requirements, product risk analysis and product
architecture definition. Best-Path then leads the client through the process inside of the
FDA QSR guidelines. These activities include the formal gathering and documenting of
the product requirements, analyzing and documenting the product risk to patient and
operator, creating a high level system architecture that documents the engineering
discipline specific interfaces, analyzing the product from the user’s perspective and
creating storybooks that describe the user interaction.
Best-Path EMT and Best-Path work together to give you confidence that not only is the
product right but that you’re making the right product for the market.
HEI, Inc. Advanced Medical Operations, 4801 N. 63rd Street, Boulder, CO 80301
720-622-4100 Fax: 303-530-8291
6. One of the most fundamental elements of any successful startup is its ability to serve a
segment of customers better than its competitors. However, many business plans are
weak in understanding the competition. Additionally many define the competition much
too narrowly. Understanding the real world issues of competition is critical to the
business plan.
Many companies also fail to recognize that their competition is not just other medical
device companies. In fact, the competition is anything or anyone that competes for
precious budget dollars and the staff needed to evaluate, recommend, and utilize the
product.
The Best-Path EMT process encourages a dialog about who the client believes is the
likely competition and how their concept can win in the market. Often the client has
awareness of direct competition and lacks the broad view of the medical device market
that HEI has. Additionally, since HEI is constantly seeing designs from numerous other
startups, we have an excellent view of emerging trends of which the client may not be
aware.
Conclusion
Startups benefit with Best-Path EMT by bringing forward in time key analyses of the
business plan, technical feasibility of the concept, differentiation, and competition. Issues
and concerns are raised and solved much earlier in the process saving both time and
money for the startup.
Best-Path EMT also allows the startup the opportunity to have a larger view of the
technology and the market by leveraging HEI’s over 30 years of experience in the field.
In some instances, this leads to recognizing that the technology has broader applicability
than originally anticipated which can provide a stronger case for funding.
Best-Path EMT can be combined with an entire Best-Path program. Best-Path begins with
a formal analysis of the technical challenges that may lie in the project and prove them
out before proceeding with more product requirements, product risk analysis and product
architecture definition. Best-Path then leads the client through the process inside of the
FDA QSR guidelines. These activities include the formal gathering and documenting of
the product requirements, analyzing and documenting the product risk to patient and
operator, creating a high level system architecture that documents the engineering
discipline specific interfaces, analyzing the product from the user’s perspective and
creating storybooks that describe the user interaction.
Best-Path EMT and Best-Path work together to give you confidence that not only is the
product right but that you’re making the right product for the market.
HEI, Inc. Advanced Medical Operations, 4801 N. 63rd Street, Boulder, CO 80301
720-622-4100 Fax: 303-530-8291