HTN's Jim Gibbons Leads MTC CRC event!

HTN's own Jim Gibbons facilitated the Maryland Tech Council's Chesapeake Regional Council's unique innovation event, bringing together regional technology leaders and healthcare innovators. The event, which featured expert panels and networking opportunities, highlighted the growing importance of healthcare technology in the Mid-Atlantic region. The event underscored HTN's commitment to fostering collaboration between healthcare innovation stakeholders and supporting the regional technology ecosystem.

"Chad Schneider, PE, who participated as a panelist, wrote the following on Linkedin:

Founding a MedTech startup is as simple as 1, 2, Base-2 log(8). If you're considering it, we thought you'd like an idea of what lies ahead. 

The Maryland Tech Council's Chesapeake Regional Council put together a workshop last week to highlight some of challenges Founders face and what to do about them. 

Amy Schiffman, MD put together a Founder Pitch Video that highlighted many of the ways Founders can trip up if they haven't been through the process before. 

Deborah Hemingway, PhD started off strong with a reality check on valuation. No easing into the bad news. Everyone thinks their embryonic startup is going to be worth $$$$, and you should if you're going to pour your time and money into it, but be realistic and look at it from the investor's perspective, too. 

Ivan George discussed how hard it can be to get medical staff and hospital systems to adopt new technologies. It may not matter if it costs less if it disrupts a reliable workflow, supply chain, and outcome. 

I focused on some of the manufacturing challenges such as costs, schedules, and quality. The regulatory pathway is long and requires a lot of data and documentation. FDA clearance is just the beginning, so don't overlook customer discovery and the marketplace as the business case. Return On Investment is a key consideration for investor-funded companies. 

Finally, Amy always wants to know "Who is going to pay for this?", so she talked about navigating CPT reimbursement codes for insurance and Medicare/Medicaid.

Thanks to the Thibodeau Media Group (TMG) for hosting at their awesome studio. Looking forward to the next one!