This article is part of a series of editorials dedicated to discovering, at-a-glance, some of the most recent project outputs of the IN-4-AHA project.
In this article, we will focus on the Long-term Investment and Cost Efficiency plan (D6.2), produced as part of the activities of Work Package 6 – Long-term Investment Strategy.
To know more about the plan, we asked three key questions to Andreas Palm, Senior Consultant at Civitta Estonia AS, lead partner of WP6.
What is the IN-4-AHA Long-term Investment and Cost Efficiency plan? What can be found in this document?
The investment plan is a document aimed at health technology innovators to be able to raise more financing for their development. It aims to assemble and summarize in a detailed and yet understandable way all the information and references relevant for an innovator in the digital health sector who explores attracting investments.
In addition to practical information, such as links to relevant funding sources and a framework for product development, the report also includes a more strategic view for the innovators to better understand the market and its functioning. For instance, the following topics are covered:
- Difference in company development between for digital health and consumer tech companies.
- Difference and implications for development between medical-device-categorized and non-categorized digital health solutions.
- CIMIT framework and four phases of company and product development, each with their own specific financing implications.
- Methodologies for insurers (payors) in evaluating what to reimburse.
- Case studies of two digital health companies demonstrate different product categorizations, financing strategies and insights about AHA end-user testing.
Who is the IN-4-AHA Long-term Investment and Cost Efficiency plan intended for?
The investment plan is primarily intended for innovators (entrepreneurs) developing health technology solutions in the EU, including but not limited to the solutions aimed at the active and healthy aging market.
As the plan has insights across all the stages of the product innovation cycle, entrepreneurs in the early stages of their product or company development would find most value from reading the report as a lot of focus is placed on anticipation of challenges ahead and planning for them in advance. This, in turn, has implications for financing options. Still, both later stage innovators as well as health technology ecosystem members (e.g. investors, organisations providing support services, healthcare providers) would surely find value in the report. For instance, they would understand why the investor risk profile differs dramatically between solutions not categorised as medical devices and those categorised as such.
What is the added value of this deliverable?
The investment plan aims to provide clarity to the rather complex market of health technology. It is aimed to guide the innovator to the right track both in terms of solution development as well as finding the most relevant financing options. Ultimately, the deliverable helps health technology innovators to make better decisions, therefore increasing the competitiveness of the EU digital health ecosystem.
Do you want to check out the IN-4-AHA Long-term Investment and Cost Efficiency plan (D6.2)? You can download it here. And do not miss the opportunity to visit our page to discover all other IN-4-AHA key outputs.
Want to know more about IN-4-AHA and its outcomes, register now for the Final Conference of the project, taking place in Tallinn (and online) on 7th December 2022! Seats are limited, check out the event agenda and register now!
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