Accelerating innovation in healthcare.
We are a consulting firm specializing in strategic guidance and needs-driven innovation within the medical device and life science industry.
Our group has deep knowledge in applying the needs-driven Stanford Biodesign process, first-hand experience at starting medical device companies, and years of industry knowledge to overcome challenges to commercialization.
SparkMed can help you with
creativity, strategy, and execution.
Our areas of expertise are summarized by SparkMed’s four pillars:
Needs-Driven Innovation
Strategies for Commercialization
Specialty Advisors
Innovation Coaching
Needs-Driven Innovation
Behind every great technology is an unmet clinical need. SparkMed can work with you and your team to identify new markets, new technologies, uncover clinical insight, or identify a gap in the market for innovation.
Expertise:
Needs-Finding
Need & Market Validation
Stakeholder Analysis
Patient Pathway
Ideation & Brainstorming
Pipeline Planning
Market Research
Market Gap Analysis
Thematic Research
Due Diligence
Upstream Marketing
Strategies for Commercialization
The path to commercialization for medical technologies is notoriously complex. Whether you need an additional resource or an experienced set of eyes, our team can identify upcoming challenges in your pathway and develop the strategy that will accelerate your path to commercialization.
Expertise:
Commercialization Planning
Risk Analysis & Prioritization
Resources & Strategies for Acceleration
We can help in various areas, including:
Clinical Strategy
Corporate Strategy
Commercial/Sales Strategy
Financing Strategy
IP Strategy
Marketing Strategy
Market Forecasting
Merger and Acquisitions
Regulatory Strategy
Usability Strategy
Venture Strategy
Specialty Advisors
We help companies connect with CEOs and specialty skillsets to strategize and seamlessly operate their companies. SparkMed’s network encompasses start-up leaders looking for their next role, physicians seeking opportunities to contribute to innovation, and seasoned experts that want to apply their expertise to innovative technologies.
Expertise:
Entrepreneurial interim CEO, C-Level, or VP
Clinical Advisor
Reimbursement Specialists
Behind every creative team is a creative process. Based on the d.school and Stanford Biodesign, we guides teams through a repeatable framework for healthcare innovation. SparkMed will introduce the process and “teach by doing”, guiding your team through a project-specific process.
Expertise:
Innovation Project Coaching
Hands-on Innovation Workshops
Healthcare Brainstorming
Project Prioritization Exercises
Curriculum/Program Development
Innovation Coaching
Case Studies of Previous Projects
Client: CEO/Executive Team
Early Commercial Medical Device Company
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A venture backed company had received FDA approval and had launched its novel device. But reimbursement was not easy and training times were taking longer, slowing revenue growth despite physician enthusiasm. Sound familiar?
SparkMed evaluated the reimbursement situation and selling strategy. The team developed a revised strategic selling approach that leveraged the existing realities of reimbursement, but allowed for continued development of value added milestones. The company restructured their selling organization, accessed additional capital, and is continuing to expand their market.
Client: Venture Capital Firm
Publicly Traded Medical Device Company
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A VC firm had a majority stake in a publicly traded medical device company in early commercial launch. Sales were growing, but at a slow pace. The executives and board were considering additional investment to expand the sales team within the organization.
SparkMed did a deep dive on early sales data, interviewed sales reps, and talked direct to customers. We proposed a “go deep” commercial strategy to management and provided tracking metrics for the investors to review at board meetings.
Client: Cross-Over Venture Fund
Pre-Revenue Medical Imaging Company
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A cross-over fund had a majority investment in an early stage pre-revenue imaging company. The big picture was exciting, but the link between the product design and marketing strategy was unclear.
SparkMed performed a gap analysis on the system components, mapping revised user needs to product features and aligning the features with their IP portfolio. This led to a redirection in product development efforts, a new financing round, and active partnering discussions enabled by SparkMed.