NMG helps to identify the commercialization approach and challenges faced in further developing and launching new advanced technology, such as medical devices, lab-developed tests and medical imaging.
NMG provides due diligence services regarding medical technology companies that have developed or are considering patented and proprietary platform or new technology. NMG helps to identify the associated challenges and solutions in developing and launching this technology. Areas of scope typically include: value recognition and ROI; coding and reimbursement considerations; information technology integration; go-to-market strategies and regulatory pathways.
Nichols Management Group recommendations typically will increase companies’ understanding of the viability and feasibility of proceeding with proprietary technology and how best to approach commercialization.
Areas to review might include:
Quality and Scalability of Technology
- How the technology may apply and scale to different environments
- Whether the lab will require renovations post-acquisition.
Validation of Critical Acceptance and Potential for Standard of Care
- Define market dimensions including national geographic market
- Provide market segmentation analysis
- Determine critical factors for success
- PForecast new sales revenue
- Estimate sales/marketing costs
- Evaluate proven similar technology and regulatory pathway
- Assess repeat customer purchase patterns
Regulatory Environment and Reimbursement Analysis
- Reimbursement trends analysis, with specific emphasis on Medicare reimbursement
- Regulatory climate trends
Partnership or Sales Opportunities
- Examine pros/cons of partnership model or outright sales potential
IP and Technology Review
- Review Intellectual Property
- Review network systems to determine scalability and security of IT infrastructure
Nichols Management Group can help you streamline the due diligence process and avoid risks and pitfalls of investment.
NMG also understands that laboratory-developed tests (LDTs) and proprietary testing panels have unique needs during the commercialization process such as:
- Regulatory and compliance requirements
- Reimbursement and contracting
- Distribution, licensing, direct sales and marketing
NMG will provide a team of consultants and key opinion leaders experienced in moving technology from an idea designed to improve clinical care to a revenue-generating standard of care.