Healthcare Innovation Cycle for "MedTech" Solutions

MedTech is broad term for electro/mechanical medical devices. Tracking data has been added to show an example of an early stage team at risk due to a focus on technology. Select any Maturity Level to see the core Requirements or select the Requirements themselves to see a description of what is involved in completing a requirement and curated resources.

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Requirement

Preliminary Path-to-Payment Plan

A high-level description of how the solution is paid for, including, if possible the anticipated CPT Code
For commercial success, a solution must be brought to market at a profit, with acceptable cost of selling, and provide value to the purchaser and other stakeholders (E.g.: clinicians, patients, payers). Paths include selling the solution as a product, service, software, or medical procedure. Each will have different economics – exploring the options now will help you configure your solution to be more commercially attractive. A critical step is to understand if a CPT code exists or if a new one will be required.
Describe and Illustrate with concrete examples how comparable types of solutions succeed in the market – describe the revenue model, prices and who pays (e.g. reimbursement, self-pay, etc.) Obtain market numbers of potential beneficiaries of the solution from population studies and numbers of patients with the problem to be treated to estimate the addressable market.

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