Open Medical Consulting advises MedTech leaders on identifying new growth opportunities, enhancing profitability, and providing insight to manage all phases of transaction services. Our clients include eight of the 10 largest global MedTech companies, as well as emerging businesses. Our deep expertise across the life sciences, and healthcare spectrum enables us to understand how MedTech providers may be affected by hospital purchasing trends, payer reimbursement strategies, advances with companion diagnostics, and other market dynamics.
Open Medical Consulting’s global team of professionals has expertise across all sectors of the MedTech products and technologies market and is led by individuals with local experience in each region. We provide strategic support for all aspects of the MedTech continuum from opportunity identification and analysis to launch planning, regulatory and reimbursement services, portfolio management and transaction support. Within our MedTech practice, Open Medical helps clients address key strategic issues and deliver value-creating growth.
Open Medical has completed hundreds of MedTech engagements across many therapeutic areas for a broad range of clients. Our practice is a recognized global market leader with local market expertise in America, Europe and Asia. Open Medical’s significant MedTech expertise is complemented by our unmatched Life Sciences and Healthcare Services practices, allowing us to comprehensively understand the hospital, reimbursement, and overall market dynamics affecting MedTech providers.
Areas of Practice
More holistic product and service offerings are becoming increasingly necessary for MedTech companies to be successful. Open Medical has experience helping clients identify and implement strategies that combine both product and customer needs and to keep them on the forefront of requirements for success.
Open Medical Consulting has extensive experience within the MedTech equipment space, including imaging, monitoring, ventilation and robotics equipment. We have helped our clients address important issues such as global growth strategies, opportunity screens and assessments of the impact of changes in global healthcare systems.
As with most other markets within the healthcare space, medical and surgical devices and consumables have been subject to changing dynamics. Some key changes have included global-access changes, increasing pricing pressure and continuously evolving technologies. Companies in this space have been forced to respond strategically to maintain position and growth.
Open Medical Consulting has extensive experience providing critical strategic insights and value-maximizing strategies related to our therapeutic device and drug delivery clients. Our global experience covers the spectrum of therapeutic areas such as diabetes and pain management and allows us to assist our clients in meeting their goals
Open Medical Consulting combines strategic acumen with extensive industry insight to help clients enhance business performance and gain market share via our service offerings – Strategy, Mergers & Acquisitions (M&A), Marketing & Sales and Strategy Activation.
Service &Sample Service Components
- Quantify market needs and revenue opportunities
- Assess customer’s key needs and unmet needs
- Screen and gather intelligence on emerging products
- Develop international expansion strategy
- Develop market or therapeutic entry strategy
- Conduct prelaunch planning and research
- Understand and prioritize product benefits
- Optimize product features and varieties through value analysis and customer research
- Optimize product pricing (e.g., based on elasticity, analogues)
- Define sales, distribution and reimbursement strategy
- Conduct competitive intelligence and pipieline analysis
- Prioritize indication expansion options
- Conduct product innovation / enhancement analysis
- Define optimal product line extensions
- Screen for potential target opportunities
- Conduct commercial due diligence
- Develop valuations of targets
- Perform licensing and joint venture assessments
- Conduct post-merger integration
- Advocacy and policy development support
- Product submissions, approvals and post-marketing regulatory support
- Global and regional pricing strategy development
- Reimbursement pricing analysis and process support