Recently, we had dinner with a good friend who invented and recently started marketing an innovative technique for fertility testing. One of the most unique characteristic that struck us about our friend is how willing and eager he was to engage with the entrepreneurial aspect of medical practice as he brought his invention to the market. Innovation, patenting, and commercialization of new medical technologies at one time were the exclusive purview of universities and public research organizations with the most funds to engage in R&D and spur innovative start-ups. But today, more and more individual doctors and medical practitioners are becoming innovators and entrepreneurs in their own right.
Many healthcare entrepreneurs have interesting and innovative ideas and they need funds and start-up capital to bring these ideas to market. A new source of start-up funding for the medical industry is angel, or individual investor, funding, which provide a one-time seed money to support the initial operation of the start-up. This is usually provided in exchange of ownership equity in the start-up.
Another source of funding for more established doctors, who are interested in starting a new company, is the sale of medical receivables to investors who are interested in purchasing the receivables at a discount. We are happy to talk about that possibility and provide an assessment of receivables to doctors who are considering being entrepreneurs and need funding for their new start-up.