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Month in Review | March 2024

by | Apr 5, 2024

PRIA Healthcare is a partner to MedTech and Life Science Innovators, providing comprehensive reimbursement and market access service to the U.S. Healthcare ecosystem. The following information will provide insight into our commitment to advancing healthcare innovation. PRIA Healthcare’s experts in market access and reimbursement are dedicated to accelerating the adoption of innovation by advocating for consistent and reliable reimbursement for novel technologies.

March has been an important month at PRIA, marking our continued dedication to accelerating healthcare innovation in the ever-evolving landscapes of MedTech and Life Science. As a stalwart partner to innovators since 2012, we have been continuously engaged in driving transformative change and ushering in a new era of healthcare solutions that help innovators achieve successful commercialization and market access for innovative technologies, prioritizing patient care and outcomes to yield a healthier tomorrow worldwide.

Regulatory Affairs Professionals Society (RAPS)

In early March, PRIA Healthcare had the privilege of attending the Regulatory Affairs Professionals Society (RAPS) conference, a premier gathering of regulatory affairs and quality professionals in the healthcare industry. Stephanie DeFelice, eMBA, Vice President of Business Development and Marketing, represented our team at this event, underscoring our commitment to supporting innovators in navigating the complex landscape of US Healthcare reimbursement alongside their quest for regulatory compliance and approval.

As leaders in reimbursement strategy and market access, PRIA Healthcare recognizes the pivotal role that regulatory affairs play in the successful commercialization of medical technologies, and how regulatory pathways intermingle with reimbursement strategy and market access approach. At RAPS, we engaged with regulatory professionals from across the healthcare spectrum, sharing insights and best practices on integrating reimbursement considerations into the regulatory pathway.

Throughout the conference, we highlighted the importance of early engagement with reimbursement experts in the product development process. By proactively addressing reimbursement challenges and opportunities during the regulatory phase, companies can optimize their market access strategies and accelerate the commercialization timeline. Our discussions at RAPS emphasized the synergies between regulatory affairs and reimbursement, demonstrating how a comprehensive approach can drive successful market adoption of innovative healthcare solutions, faster.

In addition to networking with regulatory professionals, we showcased PRIA Healthcare’s comprehensive suite of services designed to support companies at every stage of the commercialization journey. From reimbursement strategy development to payer engagement, our team of experts is dedicated to helping clients overcome reimbursement challenges and achieve commercial success. Our participation at RAPS reaffirmed our commitment to advancing healthcare innovation through strategic reimbursement solutions and collaborative partnerships with regulatory stakeholders.

MedTech Strategist Innovation Summit

In March, we were also thrilled to announce that PRIA Healthcare will be sponsoring the upcoming MedTech Strategist Innovation Summit in Dublin, Ireland. As a leader in reimbursement strategy and market access, we recognize the critical importance of events like the MedTech Strategist Innovation Summit in fostering collaboration and driving innovation within the medical technology and life science industries.

The MedTech Strategist Innovation Summit brings together industry leaders, innovators, and stakeholders to explore the latest trends, developments, and challenges in the ever-evolving landscape of medical technology. With a focus on commercialization, reimbursement, and market access, the summit provides a platform for sharing insights, best practices, and actionable strategies for success in the global marketplace.

As sponsors of the MedTech Strategist Innovation Summit, we look forward to engaging with fellow innovators, thought leaders, and industry experts to exchange ideas, share insights, and collaborate on addressing the most pressing challenges facing the MedTech and life science industries. Together, we can drive positive change, accelerate healthcare innovation, and ultimately improve the lives of patients around the world.

International Women’s Day 2024

Last month, at PRIA Healthcare, we are deeply committed to driving meaningful change and fostering inclusion in the fields of MedTech and life science. Every day, we are inspired by the exceptional women we interact with – whether they are clients, partners, teammates, or leaders in their respective fields. Their professionalism, intelligence, passion, and kindness serve as constant sources of inspiration and motivation for our team.

As we celebrated International Women’s Day on March 8th, we joined the global community in commemorating the social, economic, cultural, and political achievements of women around the world. International Women’s Day was not only a time for celebration but also a call to action for accelerating gender equality. Since its inception over a century ago, International Women’s Day has evolved into a powerful platform for advocating for gender equity and amplifying the voices of women worldwide.

Last month, more than ever, we were called upon to imagine a gender-equal world – a world where bias, stereotypes, and discrimination were eradicated, and where diversity, equity, and inclusion were embraced and celebrated. At PRIA Healthcare, we are dedicated to championing women’s equality and empowerment, both within our organization and throughout the broader MedTech and life science communities.

As we celebrated the important impact that women have on our communities and society, we reflected on how we could collectively inspire inclusion and create a more equitable world for all. Together, we believe we could build a future where every individual, regardless of gender, has the opportunity to thrive and succeed.

MedTech Innovator Road Tour – Los Angeles

Tonya Dowd, MPH, Executive Vice President of Reimbursement, Value Generation, and Market Access (RVMA) at PRIA Healthcare, recently had the honor of serving as a judge at the West Coast Pitch Event in Los Angeles for MedTech Innovator. Tonya has been a long-time supporter and judge for MedTech Innovator. This event, part of the esteemed MedTech Innovator Road Tour, serves as a platform for showcasing groundbreaking technologies and nurturing the next generation of healthcare innovators. Tonya has been a long-time partner of MedTech Innovator and has been participating in the Road Tour since 2020.

With over 25 years of experience in healthcare economics, reimbursement, and market access, Tonya brings a wealth of knowledge and expertise to the MedTech Innovator’s Road Show. Holding a Master of Public Health (MPH) degree from the University of California Los Angeles (UCLA), Tonya is a recognized leader in the field, known for her strategic insights and innovative approaches to market access and reimbursement.

As a judge at the MedTech Innovator Road Tour, Tonya plays a crucial role in evaluating the potential of the participating companies’ technologies and providing invaluable guidance to help them navigate the complex landscape of healthcare commercialization. Drawing on her extensive experience and deep understanding of global healthcare ecosystems, Tonya offers strategic advice and actionable insights to help these early-stage innovators accelerate their path to success.

Tonya’s participation in the MedTech Innovator Road Tour underscores PRIA Healthcare’s commitment to supporting early-stage innovators and fostering a culture of collaboration and innovation within the industry. At PRIA Healthcare, we are passionate about driving innovation forward and transforming healthcare for the better. By leveraging our expertise in reimbursement, value generation, and market access, we empower companies to overcome barriers and bring their innovative solutions to market.

We congratulate Tonya Dowd, MPH, on her involvement in the MedTech Innovator Road Tour and celebrate the transformative impact that innovation can have on patient care and outcomes. Together with our partners and clients, we continue to pave the way for innovation in healthcare, empowering the next generation of healthcare pioneers to make a meaningful difference in the lives of patients worldwide. Join us as we champion innovation and drive progress in the ever-evolving landscape of medical technology. Together, we can shape a brighter future for healthcare—one innovation at a time.

MedTech Color West Coast Pitch Event

While Tonya was participating in the MTI Road Tour in Los Angeles, Ryan Nolan, MEng, CCRP, Director of Reimbursement, Value Generation, and Market Access at PRIA Healthcare, had the privilege of serving as a distinguished judge for the MedTech Color 4th Annual MTC Pitch Competition. This event, held on March 15, 2024, focused on championing diversity and innovation in MedTech, with a special emphasis on technologies addressing pediatric populations. As a champion of pediatric medical technologies and an experienced entrepreneur in this space, Ryan brought his expertise to mentor this year’s cohort of MTC Pitch Competition companies.

MedTech Color is dedicated to advancing the representation of persons of color in the medical device industry. Over the past three years, their annual pitch competition has invested in thirty companies and awarded over $865,000 in cash and in-kind services to diverse founders. Ryan’s involvement in this event aligns with PRIA Healthcare’s commitment to fostering innovation in the MedTech landscape and supporting early-stage companies in their commercialization journey.

With over a decade of experience in clinical operations and reimbursement, Ryan holds a Master of Engineering in Biomedical Engineering from Cornell University and a Bachelor of Science in Bioengineering from the University of Pittsburgh. His certification as a Certified Clinical Research Professional (CCRP) by the Society of Clinical Research Associates (SOCRA) underscores his commitment to excellence in the field.

Ryan’s role at PRIA Healthcare involves navigating the complex product journey for innovative healthcare solutions. As a co-founder of the pediatric medical device company, PhotoniCare, he understands the challenges that MedTech companies face from concept to commercialization and adoption. His experience in engaging with key stakeholders such as the FDA, health insurance payers, and specialty societies positions him as an ideal candidate to mentor and judge at events like the MedTech Color Pitch Competition.

The collaboration between Ryan, PRIA Healthcare, and MedTech Color reflects a shared commitment to making a meaningful impact on the MedTech industry. As a judge for the MedTech Color Pitch Competition, Ryan brought his unique perspective and strategic mindset to evaluate innovations, particularly those addressing pediatric populations. PRIA Healthcare stands ready to support the innovative companies that emerge from this competition and all walks of the MedTech innovation ecosystem, offering expertise in reimbursement and strategic market access planning.

The Emerging MedTech Summit Presented by Life Science Intelligence

PRIA Healthcare is proud to be a long-time partner of LSI, and its game-changing Emerging MedTech Summit events. Last week, we continued our tradition of support and sponsorship of this impactful event. Our Chief Executive Officer, Jeffrey Sirek, Executive Vice President of RVMA, Tonya Dowd, and Vice President of Business Development, Stephanie DeFelice, eMBA were honored to meet with industry leaders, innovators, and collaborators to come together and drive forward the latest advancements in healthcare technology.

As part of our commitment to accelerating healthcare innovation, Tonya Dowd, MPH, Executive Vice President of Reimbursement, Value Generation, and Market Access at PRIA Healthcare, led and moderated an insightful panel discussion at LSIUSA24. The panel, titled “The End of One Road and the Beginning of Another: Transition from Pre to Post FDA,” brought together experienced and dynamic perspectives from experts in MedTech and life science. This thought-provoking discussion delved into the monumental journey and process of new technologies transitioning from pre- to post-FDA approval.

During the panel, participants explored critical topics such as transitioning to commercialization, lessons from industry experts, and the importance of early pre-planning in the product journey. These discussions highlighted the significance of early reimbursement and market access strategy for new and early innovators, a core focus area for PRIA Healthcare.

At PRIA Healthcare, we understand the challenges and complexities involved in navigating the transition to post-FDA commercialization. With Tonya’s leadership and our industry-leading expertise, we are dedicated to serving as trusted partners in guiding companies through this journey. Our team offers comprehensive support in reimbursement strategy, market access planning, and commercial success, empowering innovators to bring their transformative healthcare solutions to market.

As we reflect on our participation in LSIUSA24 and our ongoing partnership with LSI (next stop, Portugal for LSIEUR24!), we remain committed to driving positive change and revolutionizing the healthcare industry. Together, we can continue to shape a brighter future for patients and providers alike. Visit our website to learn more about how PRIA Healthcare can support your journey to commercial success in the ever-evolving landscape of healthcare innovation.

Women’s Health Innovation Series – Kisaco Research Webinar

Last week, PRIA Healthcare hosted a highly successful webinar in collaboration with the Women’s Health Innovation Series, titled “Reimbursement Complexities, Simplified.” Led by our esteemed Reimbursement, Value Generation, and Market Access leadership team, the webinar provided invaluable insights tailored specifically for women’s health technologies within the realms of MedTech and life science commercialization.

During the webinar, our experts, Executive Vice President Tonya Dowd, MPH, and Director Ryan Nolan, MEng, CCRP, addressed common myths and market access pathways whilst fielding questions from the audience. Some of the inquiries that our reimbursement leaders explored included the role of TCET in a company’s market access strategy, the influence of the AMA in coding decisions, insights about reimbursement for new classes of therapeutics, operationalizing Advanced Beneficiary Notices, and the differences between the US healthcare market and the European market for market access and adoption.

As a trusted partner in the industry, PRIA Healthcare offers vital resources and expertise to innovators in MedTech and life science. Missed the session? Don’t worry – our team is here to help. Reach out to us, and we’ll be more than happy to assist you in accelerating healthcare innovation. At PRIA Healthcare, accelerating healthcare innovation is in our DNA.

On to April!

PRIA Healthcare continuously showcases our unwavering commitment to accelerating healthcare innovation in MedTech and life science. From engaging with regulatory professionals at RAPS to partnering with, and sponsoring events like the MedTech Strategist Innovation Summit, we consistently fortify our dedication to driving transformative change in the industry. Our involvement in initiatives promoting diversity, such as the MedTech Color Pitch Competition and International Women’s Day, underscores our commitment to fostering an inclusive ecosystem – one where we all thrive together for a healthier tomorrow.

As we reflect on our impactful month, we invite innovators in MedTech and life science to join us in shaping the future of healthcare. Whether you’re navigating regulatory pathways, seeking reimbursement strategies, or aiming for market access, PRIA Healthcare is here to support you at every stage of your innovation journey. Our team of experts stands ready to provide tailored solutions and insights to help you achieve adoption and commercialization success in the US healthcare ecosystem.

Reach out to our industry-renowned experts today to start a dialogue, ask questions, or simply learn more about how PRIA Healthcare can empower your innovation to make a meaningful difference in patients’ lives.  Let’s pioneer innovation and transform healthcare for the better, together.

PRIA Healthcare is a full-spectrum reimbursement services firm based in Connecticut. Vital to the successful commercialization of over 100 medical devices since 2012, PRIA Healthcare is an industry-leading partner of innovators in MedTech and Life Science. PRIA’s renowned experts in reimbursement strategy and health care economics provide support to medical device companies by navigating often challenging and otherwise uncertain reimbursement pathways, determining the coding, coverage, and payment for market access and adoption of new technologies. PRIA is agnostic to specialty and poised to support the entire product journey of innovations in healthcare from concept through commercialization.

Please visit www.priahealthcare.com to learn more about PRIA’s portfolio, including services such as market analysis, reimbursement strategy and planning, and patient access platform solutions.

PRIA Healthcare – Accelerating healthcare innovation.

 

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Everything we do, we do to advance innovation in healthcare, ultimately improving patient outcomes for a healthier tomorrow.

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