ANY HEALTHTECH BUSINESS SHOULD BE MAKING THE NECESSARY STEPS TO PROTECT THEIR INTELLECTUAL PROPERTY ( IP ) FROM THE VERY BEGINNING TO SAFEGUARD THEIR INNOVATIONS BUT ALSO ENHANCE THEIR VALUATION AND ATTRACTIVENESS TO INVESTORS .
F E A T U R E
ANY HEALTHTECH BUSINESS SHOULD BE MAKING THE NECESSARY STEPS TO PROTECT THEIR INTELLECTUAL PROPERTY ( IP ) FROM THE VERY BEGINNING TO SAFEGUARD THEIR INNOVATIONS BUT ALSO ENHANCE THEIR VALUATION AND ATTRACTIVENESS TO INVESTORS .
Understanding your market idiosyncrasies
Getting a foot in the door with the NHS is a highly significant endorsement that provides access to one of the world ’ s largest healthcare markets and can help propel companies into new territories .
Some perceive the NHS to be a brick wall but Strolll has discovered it ’ s great to work with if you ’ re willing to put in the hard yards to build relationships with the right people from grassroots level . The first port of call should be signing up to the NHS Innovation Service and your local Health Innovation Network .
The biggest challenge is demonstrating your worth . You ’ re unlikely to get an immediate five-year contract but , once you can prove how effective your product is in improving health outcomes and efficiencies , there are pathways for long-term partnerships . Having funders that understand this gradual approach to building relationships helps .
Clare Auty , Head of Independent Health and Social Care at UK and Ireland law firm Browne Jacobson
Understanding health economics is critical to success – improved health outcomes are not enough to persuade NHS procurement teams to buy a product , like any business they need to prove ROI . Lecanemab , the first drug to slow the progression of earlystage Alzheimer ’ s and licenced by the MHRA ,
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