We are at the beginning of an unprecedented opportunity for medical device start-ups. This opportunity is made possible by two things: cheap sensors and powerful computers. Cheap sensors make it feasible to measure things directly and frequently that were difficult or impossible to measure before. Abundant computing power makes it possible to take advantage of this new data by feeding it into mathematical models and machine learning algorithms.
Many start-ups have this simple business model:
- Build a medical device to measure what we couldn’t measure before.
- Develop software to turn this data into useful information.
The algorithms to draw conclusions from the data can make or break a medical start-up. The analysis must be based on mathematical models that make accurate inferences from all available data and that properly assess how much confidence or uncertainty one should have in the predictions of the model.
I have helped several start-up companies with this process. I have many years of experience in mathematical modeling, statistical design, and medical software development.
Please call or email to start the conversation about how to help your medical device start-up succeed.