A discussion panel in Minneapolis at Medtech Investing Conference had the discussion of how to market your medical device quickly, if your new medical device is really innovative and exciting. The key answers were collaborating with the FDA and the sales team has a role to play on it too. A recent approval came from FDA for accelerated review process to market critical medical devices faster.  This may avoid the time consuming process of trials for premarket data. The discussion had various thoughts on marketing medical device from different the industry tops. Talking about reimbursement, Jolayne Devers, principal with the J.D. Lymon Group said, “Begin with the end in mind”.  “Start the premarket approval process as early as possible” said Earl R. Fender, CEO of Vertiflex.

Regarding the FDA’s willingness to understand the products, William B. Murray, CEO of the Medical Device Innovation Consortium said “They want to understand you and your product and have high evidentiary standards, but they can also offer expert guidance on clinical trials.” Dave Amerson, president and CEO of Neotract said, “It is important to have reps who are experts in reimbursement coverage and CPT codes. The efficacy of our product depends on how well it’s reimbursed.” “You can have the greatest technology in the world, but if hospitals and surgeons aren’t getting paid for it, it’s hard to move the ball forward” he added.  Medical Device Innovation Consortium

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