Easy versus Hard in 2024

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. Send me your idea to tiger@tigerbuford.com

EASIER in 2024
-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)
-Conducting clinical studies OUS
-Training surgeons (anywhere, anytime)
-Additive manufacturing (choice of several quality suppliers)
-R&D Tax credits for small companies (passed in 2023)

HARDER in 2024
-Getting through VAC committees (great advice on BoneChat here)
-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)
-Economic evidence (challenging to prove)
-Effective Marketing (it’s hard to get noticed in a sea of noise)
-Large medical shows (not useful for med device companies)
-Sales and distribution