Our orthopedic industry is constantly changing.
For early-stage orthopedic companies some things are getting EASIER, but most things are getting HARDER.
Below is my list that I have compiled so far.
EASIER today---------------Business efficiency (new business technology tools/communication)-Working from anywhere (virtual work/ hybrid work)-Hiring killer talent (a glut of talent on the sidelines)-Marketing tools (free social media for branding and exposure and leads)-Conducting clinical studies OUS (FIM easier OUS that US)-Training surgeons (anywhere, anytime)-Additive manufacturing (choice of several quality suppliers)-R&D Tax credits for small companies (passed in 2023)
HARDER today---------------Getting through VAC committees (great advice on BoneChat here)-Sales process is getting longer (from first pitch to usage)-Fundraising (tighter money, esp. Series B and C)-Regulatory pathways (higher hurdles every year, more FDA bureaucracy)-Clinical enrollment in the US-Distribution and sales (challenge of gaining mindshare with 1099s)-Sales rep access in hospitals (hospitals are more anti-rep)-Implant pricing (race to the bottom)-CE Mark for new products (MDR process is challengi...
