Achieving Successful Innovation
Client Opportunity
Our client, a world-leading wrist-worn blood pressure monitor, hired Michael Best to secure US Food & Drug Administration (FDA) and Conformite Europeenne (CE) approvals, and form key US partnerships.
Action
To address this challenge, MBS began by helping the client comprehend the US market dynamics related to remote monitoring and crafting a strategy to secure essential payor and provider partnerships. They meticulously evaluated the product’s efficacy and market uniqueness, offering strategic guidance on its value proposition to potential payer and provider buyers. MBS then orchestrated more than 15 meetings within six months, resulting in discussions for contracts with two payor/provider organizations and an additional two contract discussions over the subsequent year. Notably, three of these organizations held national recognition, while the fourth was a prominent regional leader in its target market. Collaboratively, MBS and the client worked on these use cases to ensure accurate data collection through the initial contracts, a crucial step for future pilot rollouts.
Result
The actions taken by MBS led to the facilitation of over 15 meetings, ultimately resulting in four critical contract opportunities. These contracts included discussions with nationally recognized leaders and a prominent regional leader in the respective markets, positioning the client’s innovative blood pressure monitoring device for significant commercial success.