Maximizing Veeva the Platform for the Whole Suite of Regulatory Use Cases

Maximizing Veeva the Platform for the Whole Suite of Regulatory Use Cases

There are numerous reasons why Veeva Vault has become a popular strategic platform for regulatory information management (RIM) and more–from its easy accessibility and scalability in the cloud, to its regular updates adding new innovative functionality.

However modest or ambitious Life Sciences companies’ plans to harmonize Regulatory content and standardize and streamline processes may be–potentially spanning adjacent functions such as Quality and Clinical operations–Veeva perfectly supports all scenarios with built-in futureproofing.

Common RIM Challenges

Life sciences companies often face several challenges in Regulatory Information Management (RIM) due to the complex nature of regulatory requirements, data management, and the need for compliance across different regions. A software solution such as Veeva Vault RIM can help address these challenges by providing streamlined processes, centralized data management, and compliance support. Here are a few of the common challenges that life sciences companies expect a RIM software solution to help address:

Complex Regulatory Requirements

Navigating the complex global regulatory landscape is challenging. Companies expect RIM software to provide updates on regulatory changes, guidelines, and standards to ensure compliance. The software should enable easier adaptation to regulatory requirements across various regions and countries.

Data Integration and Accessibility

Life sciences companies often deal with vast amounts of data from diverse sources, including clinical trials, research data, and regulatory submissions. A RIM solution should offer seamless data integration across various platforms and ensure that information is easily accessible, well-organized, and securely stored. This includes managing a wide range of document types and formats.

Efficient Submission Management

Preparing and managing regulatory submissions is a time-consuming process that involves compiling, organizing, and submitting large volumes of data. A RIM solution should streamline the submission process, provide templates and guidance for different types of submissions, and ensure that all documentation meets the specific regulatory standards of each region. The software should also allow tracking of submission status and deadlines to avoid compliance issues.

Collaboration and Communication

Collaboration among various departments and stakeholders is crucial in the regulatory process. RIM software should facilitate effective communication and collaboration by providing tools for project management, document sharing, and version control. This ensures all team members work with the most up-to-date information and can easily track changes and approvals.

Compliance and Risk Management

It is paramount to ensure compliance with regulatory requirements and minimize risks associated with regulatory actions. RIM software should offer robust compliance and risk management features, such as audit trails, compliance checks, and alerts for potential issues. This helps companies proactively address compliance risks and maintain a state of continuous regulatory readiness.

By addressing these challenges, RIM software can significantly improve the efficiency and effectiveness of regulatory processes, reduce the risk of non-compliance, and ultimately accelerate the time to market for life sciences products.

Veeva in a Regulatory Context

Veeva RIM (Regulatory Information Management) is a comprehensive suite designed to help life sciences companies manage their regulatory processes more efficiently. Here’s how Veeva RIM supports addressing the challenges mentioned:

Adapting to Complex Regulatory Requirements

Veeva RIM provides a unified platform for tracking regulatory requirements across different regions and countries, ensuring that companies can easily adapt to various regulatory landscapes. It includes regulatory intelligence features that offer insights and updates on the latest regulatory guidelines, helping companies stay compliant.

Streamlining Data Integration and Accessibility

The software offers a centralized repository for all regulatory documents and data, enabling easy access and management of information. It supports integration with other systems and platforms, ensuring that data is harmonized and efficiently retrieved, enhancing data accessibility and integrity.

Enhancing Efficient Submission Management

Veeva RIM simplifies the submission process through automation and structured workflows. It provides tools for creating, compiling, and managing regulatory submissions, including templates and checklists that align with specific regulatory requirements. The system also tracks submission statuses and critical deadlines, ensuring timely and compliant submissions.

Facilitating Collaboration and Communication

The platform enhances collaboration among internal teams and external partners. It offers document sharing, version control, and project management tools that enable effective teamwork and ensures all stakeholders are aligned and informed. This collaborative environment helps streamline the regulatory process and reduce errors.

Proactive Compliance and Risk Management

Veeva RIM includes risk management and compliance monitoring features, such as audit trails and automated compliance checks. These tools help identify potential compliance issues early and enable companies to take corrective actions promptly, reducing non-compliance risk and enhancing regulatory readiness.

By providing these capabilities, Veeva RIM addresses the critical challenges faced by life sciences companies in Regulatory Information Management, helping them to navigate the complex regulatory environment more effectively and efficiently.

fme & Veeva: Securing your RIM platform’s ROI

In conclusion, Veeva Vault’s RIM solutions address life sciences companies’ multifaceted challenges in regulatory information management. By providing a unified platform that adapts to complex regulatory requirements, streamlines data integration, enhances submission management, and facilitates collaboration, Veeva Vault empowers organizations to navigate the regulatory landscape efficiently.

fme is crucial in helping clients maximize their ROI in Veeva Vault. With expertise in data migration, deduplication, and enrichment, fme ensures that life sciences companies have a harmonized platform that serves as a single source of truth for regulatory information. fme’s comprehensive business consulting and strategic technical advice, coupled with its experience in system implementation and migration in regulated industries, enable clients to optimize their RIM environment’s performance. Furthermore, fme’s ability to lay out future-stage strategies for digital process transformation extends the benefits of Veeva Vault beyond the regulatory function to adjacent departments, driving the best possible outcomes and ensuring a significant return on investment.

To discuss or analyze a current RIM project or transformation requirement, contact us. We’d love to learn your challenges and discuss a specific requirement relating to Veeva Vault-based RIM.

Optimize and Improve Your RIM System with HealthCheckAssist℠

Optimize and Improve Your RIM System with HealthCheckAssist℠

Regulatory compliance is more complex and crucial than ever, and organizations are under immense pressure to manage their regulatory information efficiently. In addition, the stakes have increased as health authorities responding to public pressure have become increasingly rigorous in their evaluations, issuing more fines and penalties than ever. The health authorities are also striving to standardize data submissions in ways that organizations may not be ready to meet.

Common Regulatory Challenges

Organizations face numerous immediate challenges in managing regulatory information:

  • High volume of data and documents
  • Data fragmentation over time and platforms
  • Adherence to evolving standards
  • Inefficient processes across teams
  • Compliance risks
  • Legacy systems being consolidated into new platforms
  • Frequent RIM platform updates to stay current with complex and changing regulatory environments from multiple Health Authorities worldwide

As companies grow, merge, and acquire new data, many struggle to maintain operational efficiency and ensure compliance with mission-critical global regulatory requirements.

Modern Platforms: A Double-edged SaaS

There’s no question that today’s cloud-connected SaaS solution platforms are a fantastic leap forward in technology. Unfortunately, their undeniable benefits also come with their own challenges that IT teams need to be prepared to address.

For example, today’s leading platform in regulatory information management Veeva introduces three product releases per year where the RIM Vault is enhanced with new features. Compared to historic on-prem solutions that started to become out of date the month after purchase, this is a fantastic capability. The challenge now is that new features, bug fixes, and enhancements are automatically turned on and/or configurable and have a critical go-live date regardless of whether the organization is ready. The volume of changes can be significant, and some organizations fall behind in implementing the configurable features. In addition, many configurable features are not immediately beneficial but are utilized to build a foundation for future innovations that provide additional efficiencies.

Security can be another significant challenge. An overly complex security scheme can stunt the utilization of the solution, preventing the use of features and functionality intended to provide significant user efficiency. A properly configured and maintained RIM solution should allow all its users to easily find the information necessary to complete current Regulatory tasks. Often, during solution implementations, an organization will try to configure a security scheme that is far too granular, complex, and not conducive to efficient collaboration. The overly complex security will cause frustration and loss of user adoption of the solution. It can also cause burdensome administrative overhead and limit the available scope of change requests from the user community.

The Solution – HealthCheckAssist

Implementing your RIM solution took time and money. As an experienced regulatory information management solution provider and proven migration, technology, and services partner on the Veeva platform, fme is ready to help our clients make the most of their investments. We are proud to introduce HealthCheckAssist, a comprehensive service solution meticulously designed for users of Veeva Vault RIM.

In the often-convoluted landscape of regulatory information management, HealthCheckAssist is a surgical toolbox of optimization, offering a suite of services tailored to dissect and enhance the intricate mechanisms of Vault RIM. Through in-depth stakeholder interviews and system analysis, HealthCheckAssist delves into different departments’ unique needs and challenges to develop a complete streamlining and optimization pathway that aligns perfectly with organizational objectives.

In the dynamic environment of regulatory information management, features and functionalities evolve rapidly. A standout feature of HealthCheckAssist is its rigorous review of new feature capabilities. This ensures that your organization remains at the forefront of the latest changes, leveraging the latest updates to streamline processes and enhance efficiency.

Moreover, HealthCheckAssist strongly emphasizes manageable security, with comprehensive assessments to safeguard critical regulatory data, ensure proper accessibility, and promote effective information exchange and collaboration. Shifting the focus to a manageable and sufficiently open security model is a cornerstone of any robust regulatory information management strategy. Properly executed, this security approach eliminates over-engineered access schemas and protects your information and users in an age where data breaches can have catastrophic consequences.

Benefits of HealthCheckAssist

The benefits of HealthCheckAssist are multifaceted. Organizations can expect a significant uplift in data and document quality, driven by optimizing the features and functionalities of Vault RIM. This enhancement in data and document quality is not just about accuracy; it’s about ensuring that your regulatory information is comprehensive, up-to-date, and readily accessible, facilitating swift decision-making and compliance processes.

HealthCheckAssist also includes access to fme’s unique professional administration tool for the Veeva platform, dqMan. With dqMan, HealthCheckAssist dramatically reduces the need for manual intervention and automates and optimizes key processes to free up valuable resources. Your team can focus on strategic initiatives rather than getting bogged down in routine data and document management tasks. This shift boosts productivity and enhances job satisfaction among team members, who can engage in more meaningful and impactful work.

The strategic advantage offered by HealthCheckAssist cannot be overstated. In the competitive regulatory compliance landscape, staying ahead requires keeping pace with regulatory changes and preempting them. HealthCheckAssist empowers organizations to do just that, providing a competitive edge that can make all the difference in a competitive and highly regulated industry.

Conclusion

HealthCheckAssist by fme is not just a solution; it’s a strategic partnership in your journey through the complexities of regulatory information management. Its comprehensive suite of services focuses on optimizing Vault RIM and make it an indispensable tool for any organization looking to excel in regulatory compliance.

We invite you to contact us to learn more about HealthCheckAssist’s transformative potential for your organization. Discover how it can streamline your regulatory information management processes, enhance both data and document quality, and provide a strategic advantage in the fast-paced world of regulatory compliance.

Added Bonus – Veeva Vault Edition of dqMan

As an additional bonus, we will also include a single-user annual license for dqMan as part of the engagement.

dqMan is a professional administration tool designed to boost productivity and maximize your efficiency as a Veeva Vault expert. Carefully crafted on the robust dqMan platform, this tool reveals the true power of the VQL (Vault Query Language) and MDL (Metadata Definition Language). It provides users with exclusive capabilities and a broad feature set while enhancing user accessibility and streamlining operations alongside the comprehensive functionalities offered by Veeva Vault Admin. Seamlessly installable on any Windows machine, our enterprise-grade software solution boasts an intuitive user interface, delivering a great user experience.

Say goodbye to manual, time-consuming tasks and focus on what truly matters—efficiently managing your Veeva Vault applications.

Seamless Integration: Transforming CRO to Sponsor Data Transfers with fme and JiT

Seamless Integration: Transforming CRO to Sponsor Data Transfers with fme and JiT

In the dynamic realm of clinical research, the partnership between fme and Just in Time GCP (JiT) emerges as a beacon of innovation, particularly with their recent unveiling of CROAssist. This collaboration is not just a merging of two entities; it’s a fusion of expertise and technology to redefine the landscape of Trial Master File (TMF) management in clinical trials.

The inception of CROAssist™ is a testament to the forward-thinking approach of both JiT and fme. JiT brings to the table its unparalleled expertise in risk-based TMF management approaches, which are crucial for maintaining compliance and ensuring inspection readiness. On the other hand, fme contributes its vast experience in system migrations, a critical aspect in the seamless data transfer across platforms.

Automated Transfer of Trial Data from CRO to Sponsor

The core of CROAssist’s innovation lies in its ability to automate the transfer of trial data from Contract Research Organizations (CROs) to sponsor systems like Veeva Vault eTMF. This automation is a game-changer, addressing the traditional pain points of TMF management, such as data integrity, standardization, and compliance with regulatory standards. By minimizing human intervention, CROAssist significantly reduces the risk of errors and inconsistencies, ensuring that the TMF is always audit-ready.

Beyond automation, CROAssist stands out for its comprehensive TMF strategy. It’s not just about transferring data; it’s about transforming how it is managed, analyzed, and utilized. The platform employs sophisticated algorithms and artificial intelligence to enhance data integrity and compliance. These advanced technologies enable a proactive approach to TMF management, identifying potential issues before they become significant problems.

Benefits of CROAssist

The benefits of CROAssist extend beyond operational efficiencies. By streamlining TMF management, the platform enables sponsor organizations to focus more on the scientific aspects of their trials, rather than being bogged down by administrative tasks. This shift in focus can lead to faster trial completions, quicker time-to-market for critical medications, and ultimately, a more significant impact on patient health.

The partnership between JiT and fme, culminating in the creation of CROAssist, is a reflection of a broader trend in the pharmaceutical industry towards collaboration and technological innovation. In a sector where the stakes are incredibly high, with patient health and safety at the forefront, such innovations are not just welcome; they are essential.

The significance of CROAssist goes beyond its technical capabilities. It represents a paradigm shift in TMF management, where technology and expertise converge to create a more efficient, reliable, and compliant clinical trial environment. As the industry continues to evolve, partnerships like that of JiT and fme, and solutions like CROAssist, will be critical in navigating the complexities of clinical research, ensuring that life-saving treatments can be delivered to those in need more swiftly and safely than ever before.

QUICKFACTS

  • Efficient TMF Management: Automates and streamlines Trial Master File processes.
  • Management: Seamlessly coordinates data between sponsors and CROs.
  • Integration with Veeva Vault eTMF: Ensures validated data import for enhanced integrity.
  • Operational Burden Reduction: Alleviates complex TMF tasks from businesses.
  • Scalable Solution: Adapts to varying trial sizes and complexities.

In conclusion, the collaboration between JiT and fme and their development of CROAssist is a shining example of how strategic partnerships and technological advancements can address longstanding challenges in clinical trials. As this partnership continues to bear fruit, the industry can look forward to a future where TMF management is no longer a hurdle but a facilitator of scientific discovery and medical breakthroughs.

Learn More About CROAssist

Whether you are a sponsor or a CRO, the efficiency and accuracy gained through CROAssist will streamline your data transfer and minimize the obstacles to your trial’s success. Learn more at the SCOPE Summit for Clinical Trial Executives, or contact us directly to get all the details on CROAssist and how this new approach to TMF management can benefit your patient health and business goals.

Will we see you at DIA RSIDM 2024?

Will we see you at DIA RSIDM 2024?

Will you be attending DIA RSIDM 2024 in Bethesda, MD in February? This annual event is the premier gathering for professionals working in the pharmaceutical, biotechnology, and regulatory industries, focusing on the critical aspects of submissions, information management, and document compliance.

The importance of operational efficiency across the full process and technology environment that enables the management of regulatory information cannot be understated. It is vital to provide timely, quality regulatory submissions to health authorities in order for drug companies to accelerate the delivery of therapeutics and vaccines to their patients. At DIA’s Regulatory Submissions, Information, and Document Management (RSIDM) Forum, industry and regulatory stakeholders collaborate to examine current and evolving data standards and requirements and effective regulatory information management approaches to align related people, processes, and technology.

If you’ve attended in the past, the 2024 Forum includes a refreshed set of tracks and focus areas that will provide invaluable insights on how to build and sustain successful RSIDM foundations, optimize their current processes and procedures, adopt innovative technologies, and achieve regulatory excellence. You’ll also have ample opportunities for networking, knowledge sharing, and education for both business and technology-focused topics at all levels.

Connect with fme’s David Gwyn at DIA RSIDM 2024

This year, fme’s own VP of Business Consulting David Gwyn will be attending DIA RSIDM @presenting and contributing to the many discussions with industry and regulatory stakeholders covering the effective strategies to align related people, processes, and technology for business success.

Use the contact form below to get connected before the event, or make plans to join his session on February 14:

Leveraging Structured Content Authoring in Regulatory Submissions: Real-World Experience, Industry Insights and Tools
View Session >>
Feb. 14, 8:30am
Bethesda North Marriott Hotel and Conference Center
Brookside (Lower Level)

Other Essential Sessions

If you haven’t reviewed and selected your sessions yet, here are just a few we feel are worth the time to attend. Hope to see you there, and let us know if you have any questions on these topics!

Fostering Trustworthy and Responsible AI
View Session >>
Keynote Address
New and emerging technologies like AI have undeniably proven their potential in optimizing processes, improving decision-making, and enhancing the collection and management of data across the lifecycle. Reggie Townsend, VP of Data Ethics Practice at SAS, will share insights on how AI and other emerging technologies can be responsibly leveraged in regulatory affairs and operations.

The Future of Regulatory Submissions: Innovation of the Possible using a Non-disruptive Framework
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Technology may be disruptive and revolutionary but must be introduced in a non-disruptive way to a highly regulated environment. Innovation within the CTD / eCTD v4.0 framework including cloud computing provides exactly this vehicle for change.

Shaping and Overseeing Regulatory Strategy, Operations, and Vendor Relationships
View Session >>
Enable high-quality relationships between clients and vendors in the regulatory submissions space, and successfully shifting from a vendor-based RIM model to an in-house operation. We will also delve into acquisitions and mergers/partnerships as they relate to strategy and execution in submissions operations.

So, You Think Technology Solutions are Failing your Content Transformation? Did You Set Them up for Success?
View Session >>  
The most successful intelligent automation implementation teams think content before software: a software-agnostic mindset is key to success. This session will discuss how applying a software-agnostic methodology can supports effective content transformation across people, processes, technology, and data/content.

We are excited to participate in these valuable conversations with regulatory thought leaders, and re-connect with industry colleagues! Find the full schedule here, and contact us if you have any questions about the specific tracks or sessions offered. We look forward to seeing you there!

Life Science Insights: Build a Platform Roadmap

Life Science Insights: Build a Platform Roadmap

The traditional ‘best of breed’ approach to departmental systems in Life Sciences is losing popularity. That’s as a more comprehensive ‘platform’ approach enables greater flexibility, adaptability, and interoperability including data sharing. But change can feel onerous so it’s important to develop a strategy that’s both future proof and non-disruptive to your organization. fme’s professional services team can help you strike the right balance.

All organizations are striving to be more agile, productive, and cost-efficient, and none more so than those in the Life Sciences industry where the pressure to adapt and change is constant. And as long as individual business functions, such as Regulatory, Clinical, Quality, and Safety, continue to operate in silos using their own systems, data and document formats to fulfil their respective business processes, costs and complexity will increase rather than diminish.

Challenging the status quo can feel daunting, but Life Sciences organizations have limited choice about this. For many years, the ‘best of breed’ approach to deploying technology promised organizations optimal functionality as well as protection from single-vendor point of failure. But as data exchange and flow between teams and external parties (such as Regulatory agencies and outsourced partners) has grown in strategic importance, the pressing priorities now are platform and data standardization, simplification, and unification. A single, holistic platform approach is also ultimately easier and more cost-efficient to run and manage.

That’s not to say that any one software vendor has 100% of the functionality a Life Sciences company needs. The leading platform players, with a well-established end-to-end business capability, probably get close to ~90% while supporting the integration of peripheral elements such as submission publishing or specific IDMP components to provide full coverage.

This offers companies something to aim for, even if they do this incrementally via a phased approach.

Triggers for change: M&As,  persistent pain points, new regulations

The best roadmaps for digital transformation allow for steady, manageable progress toward a simpler and more flexible future, while delivering (relatively) easy wins along the way.

There are many triggers that can initiate a technology change.

  • A company merger inspires a more modern IT solution stack
  • The incoming company in an acquisition has a mature business application platform and business process
  • New industry regulations compel function-specific changes that are too onerous to apply

When these opportunities present themselves, the important thing is not to make another siloed decision, but to work toward a more modern, harmonized, and agile future state.

For instance, if Regulatory demands are becoming overwhelming, platform-based transformation could start here – applied initially to registrations (core data about licensed products), and archived submissions (aligned to that data). A next phase can then progress to content authoring, review, and approval process management.

Once Regulatory processes have been migrated to a modern cloud platform, companies can look to prepare Clinical, Quality, and Safety data and business processes for migration to the same core platform. Then each can access and add to the same core/master data set – enabling a unified platform.

One of the powerful benefits of tackling platform-based system modernization incrementally is that it presents the chance to bring people along on the journey. Teams have to opportunity to learn what works and what doesn’t, and refine features, processes, and capabilities along the way.

To ensure that any new system- and data-based decisions move the company in the right direction, and reap maximum returns, it’s important to be methodical in setting and following a strong overarching platform strategy.

We recommend:

  • Establish the right mindset and gain leadership commitment and buy-in to a long-term platform-based technology and data management strategy.
  • Start with a thorough ‘Phase 0’ assessment and gap analysis across the interlinked lines of business (Regulatory, Clinical, Quality, and Safety) to establish what’s possible and the level of work and investment that will be needed. This process could take 6+ months, depending on the size and complexity of the organization and its portfolio, and the current level of digital maturity.
  • Bring in the right talent, both externally in terms of vendor and systems integrator/IT services support, and internally so that there are subject matter experts on the client side. These SMEs are essential to work with external providers to help confirm an appropriate roadmap and determine the investment in time and skills that will be needed on both sides to ensure success.

Benefits of a platform roadmap

A strategic platform roadmap will provide substantial guidance and benefits over time. With the support of an established modern, cloud-based platform, business functions will start to behave like well-oiled machines, optimized in their process management and ability to re-use the latest data on demand. Because cloud-based platforms are updated frequently, teams will be ahead of and less reactive to changes such as Regulatory updates as these continue to occur in the interests of patient safety and enhanced patient experiences.

The same goes for scope to add new functionality and incorporate the latest technology advances. A recent example is the emerging capability of AI solutions at they become more accessible, relevant to, and proven in Life Sciences processes.

Additionally, phased approach to modernization, as part of a longer-term single-platform strategy and roadmap, means that the business will encounter minimal disruption. There is an opportunity to socialize, mature and optimize new functionality so that it works well for everyone. Crucially, no new and costly legacy dead-ends will be created.

How fme can help

fme’s team of Life Science experts can support the entire end-to-end digital transformation experience. This starts with providing deep Life Sciences industry-specific business and IT deployment experience and best practice guidance to help shape the right long-term platform strategy via our Business Consulting team. We then provide full technical implementation, integration, and comprehensive migration services supported by a rich toolkit of solutions accelerators that are exclusive to fme.

We are a client-focused provider dedicated to your success. We partner with all of the major Life Sciences platform solution providers, so we are able to provide recommendations and services that meet the unique needs of your company with the most effective solution, and work in partnership with your own IT team.

Once the new platform is live, we also provide an intense ‘Hypercare’ package combining full business, technical and administrative support, as well as appropriate change management and training. Finally, we provide exceptional post-implementation managed services with fme PlatformAssist™ to maintain your environment through application updates, process improvement and daily support.

To learn more about our full range of services, and to discuss your specific requirements, contact us today. We’d love to help you establish your long-term roadmap to technology and business success.

Health wearables: Delivering value & compliance from medtech innovation

Health wearables: Delivering value & compliance from medtech innovation

From continuous diabetes monitors to wearable blood pressure gauges, smart hearing aids and Wearable Cardioverter Defibrillators (WCDs), academic spinoffs and medical technology startups are devising a whole host of intelligent aids to keep patients safe and improve their quality of life. But getting products to market and developing a robust exit plan relies on responsible teams being ahead of regulatory demands.

The market for smart medical consumer devices, already worth tens of billions of dollars annually, is growing and evolving sharply. These devices, also known as “wearable health tech” or “medtech devices”, are products designed to monitor and manage various aspects of an individual’s health and wellness. This includes fitness trackers, smartwatches with health monitoring features, connected scales, blood pressure monitors, glucose monitors, and more.

The rising popularity of such products is the result of a number of converging developments. First, people are becoming more conscious of their health and are seeking ways to monitor and manage it themselves – they see the potential to use technology to keep themselves well. Continued growth in fitness tracking and wellness monitoring has driven the demand for devices that can provide real-time data on activity levels, sleep quality, heart rate, and more.

At the same time, huge advances in smart digital capabilities (including connected sensors), and easier access to advanced data capture and AI-enabled analytics (e.g. cloud-connected devices), have finally made these devices technologically possible. Many wearable health devices are designed to sync with smartphones, so users can track their health data conveniently and receive personalized insights.

But all of this smart technology needs to be reliably enabled, and regulated to ensure patient safety.

Regulatory Requirements for Medtech Innovation Companies

Many of the latest medtech innovations are coming out of academia, young biotechs or incubation hubs. For these creative, science-led teams, it can be quite a leap to progress from having a promising idea for a new wearable device and coordinating its manufacture to bringing a compliant product to market, to preparing a viable business entity for sale.

When most of the strategic focus is on the innovation, and on the potential impact on patient outcomes and quality of life, it can be easy to overlook the systematic rigor and data housekeeping that will set the venture in good stead and smooth the new device’s path through licensing approvals and/or due diligence as part of an exit plan.

Starting off on the right foot is always advisable. It’s vital to ensure that initial “make-do” practices don’t have to be unraveled later in favor of something more robust, consistent, and compliant with the demands of regulatory bodies in current and future markets.

Put another way, it is never too early to adopt established industry best practice. This includes implementing an appropriate regulatory information management (RIM) system or platform that can keep the right records of product detail, in a format that is compatible with the requirements of health authorities.

Collecting data and structuring it correctly is a critical first step. Providing meaningful insights to users is important too, which means having access to appropriate algorithms and software that can analyze the collected data and present it in a way that is comprehensible and actionable. Other challenges for manufacturers include differentiation in a growing market that is attracting a lot of attention. The sooner developers can bring their products to market, the greater their chance of securing commercial advantage.

Addressing these market preparation challenges requires a multi-disciplinary approach. This will need to combine expertise in medical technology/electronics, the optimal user experience, regulatory affairs, appropriate software selection, and compliant data capture and management.

How fme Can Help

As a Life Sciences data and technology service specialist and business consultancy, fme is ideally positioned to help smart medical devices developers ready their propositions for market; or for sale to an investor or commercial entity.

From initial strategic consultancy, regulatory advice, and business transformation services, to help selecting the right RIM platform provider and preparing and organizing the right data, we provide the full range of guidance and implementation expertise to smooth the path to market.

We also help master the complexity between Hardware (Devices), Electrotonic (Sensors) and Software which is typical for smart devices (see Prof., Porter: How smart connected products are transforming competition) especially in the context of validation.

We can advise on and provide tailored services around:

  • Individual regulations in target markets
  • Required system capabilities
  • Data scoping, structuring, migration, and analytics
  • Standard operating procedures
  • Systems validation/quality management

Because we know the Life Sciences industry so well, and what’s needed to foster the right data delivery and data practices, we’ll help you maximize the payback on your product innovation and associated investment. fme can also support the necessary Sales Transformation, as selling Smart Medical Devices is different than selling just Smart Devices.  

Crucially, we are vendor independent which means we’ll provide technology and data recommendations that fit the exact needs of your organization.

To discuss your specific needs with our business or technical consultants, or discover more about our full range of services, contact us. We’d love to learn your challenges and provide an independent perspective designed to maximize your business success.