Health Tech Startups: We're Here for You!
From on-demand healthcare to activity trackers to HIPAA compliance IT, the health tech startup scene is exploding. We're entrepreneurs, and we are passionate about helping other entrepreneurs. You have a great idea and have begun developing it to prep for launch. You know that you'll be more attractive to venture capitalists if you have your ducks in a row. So what does that mean?
Protect your intellectual property.
Your intellectual property includes both your technology and all of the brainpower that went into creating the technology: algorithms, blueprints and wireframes, product design and packaging, marketing and fundraising strategies, and logos. And if you have plans for growth into a related sphere, you want to protect those future plans too. For example, if you created the QuickChat app to allow doctors and patients to chat remotely, but you eventually plan to open physical QuickClinic locations where patients can be seen rapidly by a nurse, then you need to consider how you can best protect your QuickChat and QuickClinic concepts, names, and brands.
Evaluate whether your health tech startup can break into the insurance market.
If you can get your service or app covered by an insurance company, it will exponentially grow the number of potential users. In many cases, however, an insurance company's decision to cover a new tech product will depend upon each applicable state's laws and regulations. From telehealth to licensing insurance agents, each state governs insurance differently. Learn about how health insurance functions in the states you're targeting.
Other Considerations for Health Tech Startups
There are a whole host of other issues to consider when founding a health tech startup. How do you contract with healthcare providers without running afoul of anti-kickback laws? How do you sell your product or service to doctors in a way that's fully compliant? How will HIPAA requirements affect your digital platforms and strategies? How do you choose between forming a corporation or LLC? No matter your questions, we're here to help your great idea become a great success.