Medical Technology Companies: 4 Common Issues an Attorney Can Help You Solve

July 13, 2019 6:38 am.

Medical Technology Companies: 4 Common Issues an Attorney Can Help You Solve

There isn’t a single area in life that isn’t impacted by technology. Our health and our ability to get the medical care and support we need is no exception. Medical technology is a field that continues to evolve. Often individuals and businesses involved in the formation or improvement of medical technology get into the business from an altruistic standpoint. While that is certainly admirable, it won’t necessarily protect the creator or manufacturer from legal issues. In this post, we’re going to examine some different types of medical technology and the common issues a lawyer could help you solve.

Examples of Medical Technology

Medical technology is a broad category. Essentially, it covers everything in the healthcare field that relies on technology. It doesn’t matter if it’s something physical such as a smart watch or a machine used for robotic surgery, something primarily computerized such as artificial intelligence based software that helps doctors find the best treatment option for the patient, or virtual visit apps. It’s a broad category.

If you’re thinking about starting a medical technology company, you may not be sure where to really start even if you have an idea. This is normal. Like we said, medical technology is a broad category. Some examples of medical technology include:

  • Smart inhalers. A smart inhaler is meant to help asthma patients gain more control over their asthma if they use the device as instructed. The time and date the inhaler is used is synched to the user’s smartphone. This information helps the patient track how often they use the inhaler and how well they are responding to it.
  • Wearable items. The most common form of medical technology is a wearable item such as a smart watch that tracks calories burned, heart rate, how many steps are taken, and blood pressure. The item synchs to the user’s smartphone or tablet.
  • Virtual visits. Also known as telehealth, virtual visits are a growing sector of medical technology. It allows patients to see a doctor, ARNP, or licensed therapist through their front facing camera on their smartphone, computer, or tablet. It’s generally less expensive for patients, especially if they do not have health insurance.
  • 3D printing. This particular area of medical technology is used to create prostheses, tissues and organs, create medical tools and devices, and even create medication.

Of course, there are more complex examples of medical technology, such as the creation of less expensive and more accurate diagnostic tools and management of healthcare facility data and documents.

4 Common Issues a Medical Technology Attorney Can Help Resolve

If we could tell you just one thing about medical technology that you should always keep in mind it would be this: regardless of what you’re making, providing, or what problem you’re solving, you are or will be handling sensitive data. The following isn’t a full list of potential issues your medical technology may face. Even if you believe that one or more of the following issues could affect your business, you should schedule a consultation with a medical technology attorney.

  • Your idea isn’t legally protected. It’s important that you take the proper measures to protect your idea. Whether you plan to do everything as a company or plan to license your idea, it’s important to have the proper intellectual property protections in place. Intellectual property is a very tricky area of law that requires precision. A Denver medical technology attorney can explain to you what you should do to protect yourself.
  • You don’t have the proper terms and conditions for your app or software. Regardless of whether you plan to offer your app for free or sell it, you need the proper terms and conditions. Copying the terms and conditions of a similar app or software isn’t necessarily going to protect you. You don’t know where they acquired their terms and conditions, and you don’t know whether they are sufficient for what you offer. As Denver’s premier medical technology attorney, Larsen Law Offices, LLC works with you to help develop the appropriate terms of service that will best protect you as an individual and as a business.
  • You need FDA approval for your idea. Some medical technology solutions require FDA approval. Getting that approval isn’t always easy. There are regulatory issues, testing that may be required, applications and reports to complete, and more. Wherever you are in the process, Larsen Law can help. A medical technology attorney can help you determine if you need FDA approval and assist you in getting your solution approved.
  • You need help complying with state and federal regulations. Careful adherence to privacy regulations for adults, privacy regulations for children, healthcare information regulations, regulations for protecting sensitive information such as payment information, social security numbers and birth dates, and insurance information is imperative, as many of the regulations carry statutory penalties. 

The Importance of Consulting with a Denver Medical Technology Attorney

In addition to the four issues mentioned above, you could have other issues that should be addressed. Additionally, working in medical technology, the constant changes could mean that you need a long-term plan to mitigate potential problems.

A Denver medical technology attorney can help you protect your idea, comply with the necessary laws, create the proper terms and conditions for use, and help you get FDA approval if it’s required. Larsen Law Offices, LLC can also help you develop your contracts, review potential licensing agreements, and help you negotiate the use of your technology.

Medical technology is an aggressive, competitive industry. The best way to be prepared is to consult with Larsen Law to learn exactly what you can do as a business to gain an edge over your competition and protect yourself as best as you can from potential liabilities. To learn more about what we can do and how we can help you, call us at 303-520-6030 to schedule your consultation. With more than 30 years of contract law, business law, and technology experience, Larsen Law Offices, LLC is the premier medical technology law firm in Denver.