How To Monetize Your Big Healthcare Idea
What do these three healthcare innovators have in common?
A digital health founder creates a solution that impacts patients, providers, and payors;
A health system seeks to grow beyond its physical constraints by implementing a Hospital at Home program;
An international company wants to introduce its solution to the US health market.
Three very different situations, one shared problem:
How to actually get paid.
We get this question a lot from new clients in startup mode and established clients entering new markets.
And it's not surprising, given that there is no one straight path to reimbursement.
When we work with our clients on business models, reimbursement, launching new service lines, and entering the US market, we explore every option to find the best fit.
While we can't do that in this email, we can share some helpful information to point you in the right direction.
Digital Health Founders
Choosing a business model (blog)
5 Essential steps in building a revenue model (podcast + checklist)
Understanding digital health's ROI (podcast)
How to launch a multi-jurisdictional telehealth company (blog)
Hospitals and Health Systems
Care at home opportunities (blog)
Value creation opportunities with Hospital at Home (blog)
Is Hospital at Home right for your organization? (podcast)
How's that for a start? You may be surprised at your revenue opportunities when you start down this path. Your customer may not be your end user. Or you may have more tracks to reimbursement than you thought.
NGL News
[Drum roll, please] Kaitlyn O'Connor is now a Partner at Nixon Gwilt Law. Kaitlyn consistently demonstrates an uncanny insight into how innovators think and where the industry is moving. Click here to find out where she plans to extend NGL's reach in 2023 and beyond.
Reema Taneja is now Senior Counsel. If you're interested in telepharmacy, telepet, reimbursement, or digital health, Reema should be the next smart person you connect with on LinkedIn.
And Marisa Cieloha is now Operations Manager. Clients often compliment our back-office systems and general tech-savviness compared to other law firms. Marisa is a big reason for these continual refinements in our business processes (which make it easier for you to work with us).
NGL is pleased to be supporting the Virginia Telemental Health Initiative (VTMHI) through the work of Reema Taneja, Stephanie Barnes, and our pro bono committee. Congratulations to VTMHI as they start serving patients through six different clinics!
Conference Schedule
Are you on the road, too? Let's plan to connect if you're going where we're going:
Reema Taneja moderated a panel discussion on Reimbursement in Maternal Care last week at the Future of Maternal Care Summit in San Francisco.
Carrie Nixon is speaking at the American Telemedicine Association Annual Conference about Remote Monitoring and the Changing Landscape of Healthcare Delivery on Saturday, March 4.
Kaitlyn O’Connor is conducting a Commercialization and Reimbursement workshop at Penn Med for the IVRHA Conference March 3-5.
Rebecca Gwilt is speaking at ViVE in March! If you're going, you'll want to use her speaker $250 discount code below to register now.
Don’t Miss This
If you missed the breakdown of opportunities and impacts of the 2023 Medicare Physician Fee Schedule webinar—plus insights on the future of telehealth with the recently passed CAA "omnibus" bill—you can now get the replay.
And that brings this issue to a close…
As we were getting ready to hit send, the Biden Administration announced the end of the Public Health Emergency (PHE) on May 11. That is BIG news for anyone in telehealth, and we'll have more resources for you in the coming weeks (start with the webinar replay above!).
If you can't wait that long or have specific needs, contact us now to prepare for the transition.
Thank you for making room for us in your crowded inbox every month. You're busy, and we aim to deliver the most immediately useful information in each issue. You can always reply to our emails with kudos, comments, questions, or constructive criticism—we read every response.
Until next time,
Carrie Nixon, Rebecca Gwilt, Kaitlyn O’Connor
and the entire Nixon Gwilt Law Team