Medical device developers rely on medical device consulting services providers to provide focused insight on the current direction of and emerging technology. Consulting firms have expertise and resources required for research and analysis. Healthcare facilities prefer technologies that offer improved patient outcomes at reduced cost and without major changes required in the workflow.
A medical device developer can obtain medical device consulting services for the following:
- Voice of the customer
- Market analysis
- Value analysis
- Key opinion leader identification
- Risks analysis
- Competitive analysis
- Positioning analysis
- Financial valuation
- Exit strategy
- Business plan
- Portfolio analysis
However, it is critical to hire a medical device consulting services provider that has significant industry experience. This medical device company experience should include the following:
The Project Scope
When a medical device consultant performs their analysis, they must have a clear understanding of the scope and timeline of the project and the desired role. Deliverables should be well outlined. Depending on the size and complexity of the innovation and the desired project, the developer should interview three different consulting firms issuing a clear RFP on the project
Interview of Global Stakeholders
Interviews of respected global stakeholders for the product in development provide an opportunity to secure industry experience valuable to the development of the technology. The consultant should be able to understand the project requirements and provide initial insight into the target markets and competitive landscape. The consultant must have a clear roadmap for the required research and analysis to outline the technology. The consultant should be able to provide references for work they have executed on aligned areas. Experience in similar projects can help in identifying needs that are not met by the existing technologies.
Though cost is a critical factor, it should not be the top priority while selecting a medical device consulting services provider. The medical device consulting firm requires decades of experience and aligned expertise to perform the services listed above.
The contract should clearly describe milestones, timelines, and deliverables according to the payment schedule.
Different types of medical device consulting Firms offer different consulting services. The medical device company should rely on a firm offering a full suite of strategic medical device consulting services.