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Thursday, July 1 • 11:30am - 12:30pm
#430 SL: Needs Assessment: Key Factor in Value-Based Funding for Medical Device Innovation

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Component Type: Session
Level: Intermediate
CE: ACPE 1.00 Knowledge UAN: 0286-0000-21-657-L04-P; CME 1.00; IACET 1.00; RN 1.00

Innovations in Medical devices often find difficulty in commercialization due to limited funding opportunities in low and middle-income countries. Also, funding decisions based on economic viability and scalability are not sufficient to propose a 360-degree value proposition of an innovation. In this session, we will attempt to understand the differences in funding models between developed and developing countries for medical device innovations. We will also attempt to propose a value-based funding framework for effective incubation/acceleration of innovative products. Value-based funding, similar to value-based contracting, depends on the value of the product realized from outcome research studies. This session will discuss the status of value-based funding in the US/India, Asia, Europe, and other countries. It will also touch upon aspects on how to encourage funding bodies to perform needs assessment through the proactive involvement of biomedical engineers and promote the role of value dossier professionals to prepare a robust value-based funding application as the foundation of the overall activity.

Learning Objectives

Describe basic methodological aspects of needs assessment with context to innovation in MedTech and overall health care domains; Identify key differences between funding models of developing and developed countries for medical device innovations; Discuss the role of biomedical engineers in value-based funding process and decisions; Discuss the key components of value-based funding applications for faster incubation/acceleration.


Vatsal Chhaya, MSc


Value Proposition for Medical Device Innovations: Value-Based Expedition of Funding Decisions
Ben Modley, MS, MSc

Insights for the MedTech Investment : Practical Applications of Value-Based Funding
Leesa Soulodre, MBA, MSc

MedTech Innovation Funding: Challenges, Lessons Learned, and Possible Solutions
Gerardo Fernandez, DrSc

avatar for Vatsal Chhaya

Vatsal Chhaya

Senior Executive, Medical Writing and RWE, Genpro Research Inc, India
Vatsal Chhaya is a senior researcher in Evidence-Based Healthcare & Health Technology Assessment at Genpro Research Inc where he is working as project lead for HEOR and Medical writing. Earlier he worked as Deputy Director (Research) for the Indian collaborating center for Joanna... Read More →

Gerardo Fernandez

Co-Founder, Developer and CSO, ViewMind Inc., United States
I am the Chief Scientific Officer and Co-Founder of Viewmind. I am working in the field of eye movements, cognitive processes and related brain activities from the last 16 years. With the recent advancements in Artificial Intelligence, the validated eye tracking ViewMind’s technology... Read More →
avatar for Ben Modley

Ben Modley

Owner/Inhaber, leads.healthcare, Germany
Ben has more than 12 years of extensive market access experience with pre- and post-launch activities. He has a strong focus on quantifying and demonstrating value of innovative and disruptive medtech with extensive experience in developing value stories, value dossiers and managing... Read More →
avatar for Leesa Soulodre

Leesa Soulodre

General Partner, R3I Ventures, Singapore
Leesa Soulodre is the General Partner of R3i Ventures and the Pioneer behind the House of MedTech and House of DeepTech in Singapore and Luxembourg. She serves as an Entrepreneur in Residence and Mentors for the Australian and Canadian Government High Commission Accelerators, where... Read More →

Thursday July 1, 2021 11:30am - 12:30pm EDT
TBD Virtual Event Horsham, PA 19044
  12: Value-Access, Session