By working with BioPortUSA and outsourcing the commercialization services necessary for U.S. Market entry, companies can operate as a virtual entity for a longer period of time, reducing operational costs while accelerating time-to-market.
About BioPortUSA
Knowledge & Network. The power of BioPortUSA is our people and network.
With extensive knowledge of the Life Sciences and the US market, we address your unique needs and provide a customized plan and suite of services administered in one place, making the entire process seamless and pain free. Through our exclusive partnerships with key service providers, we save you time and provide unprecedented access to industry leaders in their respective fields.
BioPortUSA’s services allow a foreign-based company to:
Lower Operational Costs
BioPortUSA utilizes highly experienced experts with deep industry knowledge, working exclusively on your behalf. Their expertise and strategic guidance provide service offerings which help companies correctly size their early investment and accelerate the commercialization process, saving time and money.
Reduce Time To Market
BioPortUSA’s methodology and Readiness Assessment compares your company’s current status against a minimum standard metric, which determines the proper timing for U.S. Market entry. We create a customized plan with efficiency in mind, allowing you the quickest path to bringing your products to market.
BioPortUSA can help your company:
- Obtain FDA Approval
- Assist with reimbursement
- Identify strategic partners
U.S. Healthcare Market Overview
At $2.8 trillion dollars, the United States is the largest healthcare market in the world. In 2018 alone, sales of medical devices exceeded $180 billion dollars, which represented over 41% of total global sales. While China is recognized to have the world’s largest population, America offers the greatest growth opportunity for Life Science companies.
Several foreign healthcare companies like Siemens, Fresenius, Philips and Novartis have recognized the potential the U.S. market has to offer. They have each focused a great deal of effort on growing their business in the United States as opposed to their own home markets.
One of the major differences that the U.S. Healthcare market offers in comparison to its European counterparts is that you are no longer dealing with a single payer environment. While the Federal Government represents 61% of the payer market with Medicare (insurance for senior citizens), Medicaid (insurance for low-income people), the Veterans Administration and Children’s Health Insurance programs, there are a number of major payers like Blue Cross who control how our healthcare system functions.
Although developing innovative technology to provide patients with a better experience or healthcare providers with better tools to treat patients is valuable, the bottom line in America is money. If your product can’t save customers money or make them money, then you will have a difficult time selling your product in the United States.
While understanding how the FDA approval process functions is certainly important, many companies underestimate the barriers associated with getting reimbursed by the payer. The goals in today’s U.S. marketplace are to reduce costs, demonstrate value and improve conditions. At BioPortUSA, our team understands the ever-changing healthcare landscape and we apply that knowledge when working with you.
BioPortUSA Advisory Board
The BioPortUSA Advisory Board is made up of a network of industry professionals.