HCB News: Which areas of healthcare have the biggest potential for disruption/biggest hurdles to overcome?
BG: The healthcare industry today is incredibly inefficient in both collaboration and care delivery. Far too often there is tremendous amounts of waste due to a lack of coordination, communication, and accountability. This is both due to structural inefficiencies from regulatory and clinical burdens as well as systemic industry issues related to the economics of care and the large bureaucracies in which healthcare systems operation. Though this is changing due to catalysts such as the Affordable Care Act (ACA) and the development of new technologies that enable greater efficiency, there is still much improvement that needs to be made in a very short period of time to ensure our healthcare industry’s survival.
HCB News: How can readers decipher if their ideas have potential in today’s marketplace?
BG: Submitting them to ENM would be the easiest and most efficient way to see if your idea has value, as our team of intellectual property, medical efficacy, and business commercialization experts will fully review your technology and evaluate if it has merit. If it meets our criteria, we, at no expense to you, will further invest in your technology and represent it in the marketplace to potential commercialization partners and licensees.\
If we are successful, we will split at least 50 percent of all royalties with the submitter. Alternatively, the inventor can meet with patent attorneys to review the intellectual property potential of their invention, interview medical experts to provide their efficacy feedback and if possible work to get their product tested in a limited capacity, and then ultimately invest in the business development to manufacture their product and try to push it to market on their own after receiving regulatory and clinical approvals. ENM takes the effort and risk out of the equation for the inventor.
HCB News: You mentioned that the ACA has impacted healthcare innovation. Can you elaborate on that? Have inventors been able to capitalize on these changes?
BG: As mentioned previously, healthcare today is incredibly inefficient in both collaboration and care delivery. This is due to both structural inefficiencies at the regulatory and clinical level and industry issues due to bureaucracy and the traditional economics of care delivery. For far too long, healthcare systems were weeded out the traditional healthcare economic model of pay-for-production and did not have a desire or need to adopt practices or methodologies that improved their efficiencies.
