Why Outsourcing for Medical Device Software Development Makes Sense
One of the key success factors for medical device companies in the past 18 months has been developing trusted Partnerships for their Medical Device Software Development. When CEO’s need to hit their corporate goals, ensuring their life saving products ship on time with no surprises, they understand the benefits of putting the best technical talent to work on their projects, especially when it comes to medical device software development – because not just any software developer will have the expertise and experience in this unique field.
Partnering with highly experienced medical device software development companies, with proven team track records – is the best path to delivering on their customer promises. When the customer is happy, everyone is happy.
What is partnering for medical device software development?
Partnering is the process utilized by forward thinking leaders, to engage the most advanced technology & experienced experts in order to expand their company’s market share and increase profits.
Leaders partner with engineering firms to dramatically increase their productivity, because they trade the time devoured by trying to build teams, with time dedicated to new product development.
It’s how growing medical device companies remain unbeatable in the market.
The secret weapon – leverage.
The best software development and engineering firms have lengthy experience in medical device development and delivery, and that expertise provides a time to market advantage by orders of magnitude, which directly equates to new product delivery success.
Major costs are saved, previously spent on hiring and spending time training new software developers or software engineers (whose experience and capacity is initially unproven), because the experienced partner teams can dive right in and become effective & productive in very short order; and when the engineering work is completed the partner moves their team to another client….and the existing client can enjoy immediate cost reductions when standing down the partner’s teams. They have now have their new products in the market, and their full-time engineers can support those products, while the new revenue brings increased profitability and stability for the OEM.
A consistent example of the need to partner- medical device startups.
Medical device startups are typically comprised of entrepreneurs with a unique product idea, having great promise, and the investors, friends and family who support their goals.
Unfortunately, that’s not enough to get to market faster than the competition.
They usually don’t have the funds at the start to hire experienced in-house developers, engineers, technicians, regulatory/quality experts and folks who can craft documentation that’s fully FDA compliant.
Most of the time, they build a prototype or minimum viable product – in order to prove the concept, and earn more funding.
And if you have a wearable device (with a mobile app component) the complexity only increases the need for experienced engineers with the requisite skill sets and capabilities.
TIME is the Key.
If your company exists solely due to investor funds, and you need to achieve the progress goals measured by milestones, (in order to receive the next tranche of funds), then it’s imperative that you don’t fall behind or hit any regulatory or engineering blockers.
For example, when you consider how competitive the market is for glucose monitoring and/or insulin delivery – you realize how important it is to be first.
Or at least second.
Another example – midsize companies wanting to build/release a new product.
They have a set of employees who maintain their existing products, but the engineering team doesn’t have the experience or skill sets necessary to build new products with new technology – and your company doesn’t have the time for them to learn the new tools, and build/test/deliver with a high degree of confidence at time of release.
The risk is huge.
The solution? Partner with experts in the new technology, with a proven track record of delivering similar products (or technology) to market – successfully.
That’s the power of leverage.
How do you stay on track – what is the best path forward?
When you partner, you don’t have to waste time trying to hunt around and find and train all the experts you need to deliver a safe, reliable product with easy FDA acceptance. Collaboration is key. Your Partner has all the bases covered, because this is what they do every day for clients around the Industry, and you can leverage their experience to your advantage.
This leverage reduces risks astronomically, and, dramatically increases your capacity for a successful product launch.
What happens when you go it alone with your medical device software development?
For example – what happens if – that key developer or engineer who moves the project forward is hired away by a competitor? How do you account for that significant loss?
What happens if your regulatory expert didn’t know as much as you thought they did – and you only find out when your 510(k) Submission is kicked back with a myriad of questions? What is your backup plan then?
I’m asking because real companies have requested our support, after they experienced the losses mentioned above, and they realized they needed our help.
I’ve also seen companies ignore our advice, and go it alone…only to suffer massive defeat at the hands of either the market or the FDA…and pay the price by going out of business.
This isn’t easy – if it was, everyone would be doing it.
Proven options for medical device software development.
The reason forward-thinking leaders continue to dominate the market, is because they understand the value of leverage; they partner with experts and get their products to market early – consistently.
They know what works. Fill out the contact below to talk with the Advantu Team about partnering!