Setting a price for your product is one of the most important decisions a medical device startup will ever make. A recent A16Z podcast reminds us that “There’s no other single number that ties to the valuation” of your company.
Once set, prices are hard to raise. If you price too low, you can leave millions of dollars of revenue and profits on the table, starving your company of the funds it needs to re-invest in growth. If you price too high, product adoption will suffer.
So, it’s worth investing a fair amount of time and money with pricing experts before you launch your product. They’ve done this a lot more often than you have. Continue reading “Five Ways to Price your New MedTech Product”