How would one attempt to get insurance companies to adopt/sponsor production of a new medical invention?

Question

After brainstorming for the past few months, and working with the appropriate professionals, I have an invention idea that is a medical device -- that I'd like to attempt getting sponsored by insurance companies to produce... any thoughts on how to start that process?

Answer 1

Insurance companies do not sponsor, develop or produce medical devices. They insure people.

Heck, it's hard enough to get them to pay for established medical care.

You need to find a medical device company that is appropriate to your device, and pitch it to them, or start your own company.

THEN, you have the battle of getting insurance companies to recognize said device as a valid medical treatment. They won't pay for anything "experimental", and THEY define what is and is not experimental.

Good luck!

Answer 2

Your first step would be to get a working prototype. Which you can take to your potential investors and show them exactly what you have and what it does. The type of material your product is made of would decide what direction I would point you. If it is made out of plastic I could help you out. I make single SLA parts which a basically print with a urethane, as well as rapid prototype injection molds and have the full capabilities of running the molds. Take a look at my site www.2ktool.com. Feel free to email me with any questions, I do have some expierence in bringing products to market.

Kevin Smith

Answer 3

Insurance companies are not in the 'new product development' business. They are in the insurance business.

You need to develop your idea on your own or with the financial assistance of investors. First, you will need a patent. Go from there.

Answer 4

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