Where have the last 35 years gone?
Not quite in the blink of an eye but, certainly faster than I imagined. From bedside to boardroom, would be one way to describe my journey so far. Throughout that time Healthtech has captured my imagination and enthusiasm, particularly when we see what it can do for the health of patients and populations.
I like to think of Ferris Bueller’s Day Off, in such a moment; ‘Life moves pretty fast, if you don’t stop and look around once in a while, you could miss it.’
So having done bedside to boardroom, I’m moving beyond both and will be joining PLMR Healthcomms as a Strategic Advisor.
Having had my Bueller moment, I am convinced there has never been a better time to be in the field of Healthtech – whether that be in R&D, Market Access, Clinical Support or Sales, Policy and Engagement – this is the rich church that forms the Healthtech family.
Everyone will make reference to AI and robotics when we think about technology advances; but these have been around for years. Only recently are policy makers buying into the potential opportunities such tech can deliver.
The area of diagnostics is incredibly exciting. In my role at NICE, I had the pleasure of meeting lots of companies doing amazing work, and the development journey of Genedrive is truly amazing. They put the patient problem at the heart of their development, coupled with solid evidence development. They demonstrate the ability for innovators to find solutions to unique problems that many of us have never heard of.
The implantable sector, too, is an interesting space – often invisible once the surgical procedure is undertaken, but inside that device magic happens both automatically and with the aid of expert healthcare professionals personalising tech to individual patient needs.
These are mere snap shots of the brilliance of the diverse and impactful Healthtech industry.
Why am I so upbeat, even with some challenging headwinds faced by the Government, the NHS and the sector? Like most things in life, tough times leads to fantastic solutions, and the Healthtech sector has always risen to the challenge.
There are many reasons why, but necessity is the mother of invention. If you can think it, the clever engineers could probably have a mock up in a matter of weeks.
There is a note of caution that follows, however. Regulation, evidence, cost effectiveness and the often unnecessarily complex healthcare systems lead to developers, both SME and the multinational, getting frustrated.
The UK has done a lot to caution against talking the market down and discounting the UK as a launch region. These are just challenges to overcome rather claiming it’s a whole sector issue or country issue. Trust me it isn’t.
That is why I am so upbeat about the present and the future on our doorstep. In the recent MedTech Strategy the market estimate for Healthtech in all its rich forms was estimated at £10 Billion! Some dispute that figure, but whatever you think it is, it’s a big number and one we should shout about, particularly when we are told ‘there is no money’.
Our goal in Healthtech is to make sure it’s spent on the most impactful technologies and delivers best value for the taxpayer. Ah that old chest nut I hear you say, but its important. The marketeer Bryan Dyson said ‘Value has a value only if its value is valued’ – I’ll let sink in.
Products really need to solve a problem; one that is recognised; and once people are willing to tackle it. Often these will be thorny problems that are easier to leave well alone; but within HealthTech, we pursue solutions with relentlessness, partnering with clinicians, administrators and stakeholders to ensure these solutions reach the patient or the pathway.
More encouragement should also be taken by 10 Year Health Plan for England, and the Government’s drive to bring Healthtech assessment on par with Medicines, via the NICE Technology Appraisal approach.
Yes, we know there are differences between these two parts of the Life Sciences sector, most of which can be solved by the clever methodologists, but no longer do ‘we’ assume pharma is the answer to everything, nor first in queue for funding.
So, what should you we take from this? Well, Healthtech is firmly back on the agenda, and we should rally round as a collective to showcase all that Healthtech can deliver in service of the 10-Year Health Plan and beyond, because a considerable volume of tech is here today.
Yes, it may not be ‘your’ product now, and the system partners may not be perfectly executing these initiatives just yet; but in the future if we capitalise on these policy changes, the next 35 years for Healthtech will be unrecognisable, and the UK can rightfully be seen as a leader and gateway to wider markets.
I am looking forward to working with clients and partners with PLMR Healthcomms and discussing the challenges that you face and how we might work together – alongside partners across the sector – to solve them.
I look forward to meeting old friends and new as we embark upon this next chapter for Healthtech.
