Thursday, I met with the professors in the MILI program to discuss reimbursement codes. I'm one of the MILI Fellows this year. We're working with the MDC (Medical Device Center) Innovation Fellows to create and build business models for new medical devices. We're just getting started this year after the MDC fellows finished up their previous project.
Reimbursement codes are critical to consider when you are developing medical devices. You need a way to get paid for your device or what's the point? You can work with Center for Medicare and Medicaid Systems to create new codes, but that takes more time and effort. It's good to start where there are already reimbursements.