An aging population. Spikes in lifestyle disease. Longer waits to see a specialist, and—to top it all off—a pandemic that put millions of Americans’ non-COVID treatments on hold. It’s no secret that the U.S. healthcare system has taken some hits.
Fortunately, we live in a country of innovators, and innovate we have. Over the past few years, medical startups have emerged to fill so many gaps in healthcare. Like, people who formerly lacked access to therapy can now talk to a counselor with the click of a button and from the privacy of their own home. How cool is that? Healthcare startups have enabled this awesomeness and more, and we’re thrilled to be a part of that momentum at flipMD.
In fact, medical startups and flipMD are pretty much made for each other. That’s because these businesses rely on physician consultants all the time to make sure they’re on the right track with their innovations.
What do flipMD physician consultants do for medical startups?
- Physician advisory boards. These are doctors highly respected in their field that provide valuable advice to medical startups. This is a chance to sit at the big kid’s table. You’ll have meetings guided by a chairperson to weigh in on any number of strategic issues facing a startup. For example, maybe a company is developing a new glucose monitor. They want to add a feature that detects spikes before they happen. The board might discuss the new feature, the pros and cons of adding it, and then take a vote on whether to recommend it.
- Go-to-market strategy. This is a detailed action plan that medical startups make to bring a product into the economy or to a new customer base. So, once a medical startup has developed a product or device—whether it’s something totally new or something that’s going to compete with other things on the market—it needs to find a way to get that thing to the people who could really use it. That’s where you come in. To take a really basic example, maybe a company has developed an EMR. They’re fine tuning it as part of their GTM strategy, and you realize that there’s no way to write notes from outside the hospital. You’ve just saved the company from financial ruin…nice job! Of course, the work will never be this simple, but you get the idea.
- Medical business consultant work. Professional medical business consultants are in high demand. Their role is to look at an organization in the healthcare system and find ways to increase productivity, bring in more revenue, and provide other misc support. This role enables you to put your everyday experiences to good use from the more administrative side of things.
What makes medical startups stand out on flipMD?
Personally, some of the best projects I’ve worked on have been posted by healthcare startups. There are a bunch of reasons for that, but I’ll share my top three.
First of all, by definition, medical startups are up to something new and exciting. That gives you a chance to think outside the box and practice some creativity. It’s a chance to be at the forefront of medicine—often from your living room couch.
Second, there’s the money side of things. Consultants who serve on physician advisory boards often get compensated partly in the form of equity—meaning ownership—in the company. That means that, when the profits start rolling in, you’re getting a piece of the pie.
Finally, working with a medical startup gives you an opportunity to champion a really great product that you had a hand in bringing to the market. It’s a great feeling to know that you helped create a product or device that’s a disruptor—or, in layman's terms, something that's really going to help patients. And after all, helping patients is what it’s all about.
I hope reading this has gotten you excited to partner with these great businesses. Don’t forget to check for new jobs today!