Reimbursement
This is generally the per-person healthcare spending in the US (dollar amount)
What is ~$14k?
This process evaluates whether a new technology improves outcomes and reduces costs for hospitals, often through committees
What is hospital value analysis?
Patents, Copyrights, Trademarks, & Trade Secrets
What are the 4 main areas of intellectual property law?
The people you should interview to gage interest and potential investment in your product.
Who are stakeholders?
You are pitching a new medical device to a hospital’s value analysis committee. They ask: “Why should we adopt your product over the competitor’s, when ours is cheaper?” You respond...
What is emphasize both the improved clinical outcomes and the downstream cost savings?
This payment approach provides a single reimbursement for an entire episode of care, rather than individual services
What is bundled payment?
This economic evaluation tool is used to compare incremental costs and incremental health benefits
Cost Effectiveness Analysis (CEA)
A placeholder application that is cheap and not reviewed. Lasts for 12 months.
Provisional Patent Application
5 years
What is the minimum you should look into the future when developing your product and developing a marketing strategy for your product?
Your CEO asks you to explain to investors how the Affordable Care Act still shapes reimbursement today. What do you highlight?
What is the ACA’s legacy programs: ACOs, bundled payments, and value-based purchasing?
Under Hospital Value-Based Purchasing, this percent bonus hospitals earn up to for high-level care
What is 4%?
This type of analysis estimates the short-term affordability of a new product for a specific population and payer.
What is budget impact analysis (BIA)?
Life of the longest living author + 70 years or 120 years (company).
What is the lifetime of a copyright?
The idea that you need to tweak your story based on the audience you are presenting to.
What is No-Size-Fits-All?
You discover your product may infringe on a competitor’s existing patent. Role-play your course of action as if you all are the head of the company?
Nice!
In this approach, patients pay the difference if they choose a provider charging above the payer’s benchmark price
What is reference pricing?
Early-stage models of this name are built on assumptions and literature used to frame payer discussions before robust trial data exist.
What are conceptual models?
Customer confusion is more important than a visual copy.
What is the Likelihood of Confusion - Trademarks?
The act of observing a surgery to examine the process pertaining to your potential innovation.
What is observing a ceremony interaction?
A competitor has spread misinformation about your product’s safety. Role-play your strategy to regain trust and close the deal.
Cool!
This recent act has spurred more flexibility with price negotiations in US healthcare
What is The Inflation Reduction Act, 2022?
This 2010 law introduced ACOs, bundled payments, and value-based purchasing with reforms still shaping commercialization today
What is the Affordable Care Act (ACA)?
These need to be done because ignorance does not uphold as a defense of infringement.
Why is a prior art search and freedom-to-operate important?
There are increasing medical device regulations.
Why is it harder to make medical sales today or than 50 years ago?
What are the key takeaways you all got from this presentation?
Congrats!