By Howard Burde, Howard Burde Health Law, LLC | @BurdeLaw
Nearly 60 entrepreneurs submitted applications for participation in the 2017 HIT Venture+ Forum, reflecting increased activity in the more dominant digital health sectors of patient engagement, virtual provider‐patient connectivity, expanded clinical settings and advanced clinical and commercial data analytics. The accepted companies are all emerging market‐focused companies, each with a track record of multiple customer successes, growing revenue base and engaged marketing strategies to increase market share.
For healthcare technology applications outside a clinical setting, companies like Beyond Lucid, Brain Check, Dia Cardio, DN Telehealth, MedTek21, Rijuven and Xverity, will present their breakthrough approaches to connecting patients with providers and relevant clinical information:
Since clinic settings still matter, especially among acute and urgent care settings, here are a few presenting companies within the clinical setting:
As these companies present, keep in mind the extent and manner in which they are building their businesses. Are they focused on revenue streams associated with reimbursement? Or, are they dependent upon future cost savings for the purchaser to rationalize the investment? Are they cognizant of the relevant laws and regulatory strategies for compliance? Are they structured in a way that will be attractive to investors? To what extent might ACA changes impact business? For example, telemedicine companies should have strategies for compliance with state licensure laws and for reimbursement from relevant health plans.
Robert Garber, Partner at 7 Wire Ventures, will be attending this year’s event as an investor. He is looking forward to see how these early market entrants are demonstrating sustained, measurable improvements at reduced costs with actionable insights driving better treatment outcomes and ultimately healthier lives. He notes, “This has been a challenge that only a few of the early entrants in these markets have been able to overcome.”
At Howard Burde Health Law, I advise innovative emerging health care companies on how to use the legal and economic environment to meet and overcome these challenges for sustainable market success. You can reach me at firstname.lastname@example.org.