AcuityMD, provider of a novel commercial platform for medical technology (MedTech) companies, announces its partnership with FEMSelect, a MedTech manufacturer specializing in a minimally invasive approach to treat pelvic floor disorders (PFD). FEMSelect is leveraging AcuityMD’s platform to accelerate identification and engagement of U.S. physicians treating PFDs, which affect at least one in five women.
In a 2022 study of more than 25,000 women, an alarming 32% had a PFD. The current standard of care for one of the most common PFDs, pelvic organ prolapse (POP), involves a full hysterectomy or complex mesh surgery. FEMSelect’s FDA-cleared EnPlace®, in contrast, offers a minimally invasive, meshless approach that can bring relief to the millions of women suffering from POP. The challenge for the Israel-based startup is to commercialize its innovation efficiently. After establishing a team of regional sales representatives, FEMSelect turned to AcuityMD’s commercial platform for faster, more accurate physician identification and planning.
“Our lean sales team has a lot of territory to cover in a short period of time, so we needed advanced technology to help us identify the microcosm of about 2,500 relevant specialists in the U.S.,” explained Debbie Garner, co-CEO of FEMSelect. “AcuityMD’s unique domain expertise, aggregated database of various sources, including private and public payers, and user-friendly interface made it an easy choice. Our sales team depends on the platform not just for physician identification but also for smart engagement strategies.”
Francesca Babore, FEMSelect Market Development Manager, added “AcuityMD’s platform is continuously updated to add new data and rich functionality. It also saves our sales team a tremendous amount of time and gets very granular with its insights about specialists based on surgical experience and relevant patient populations for strategic call planning.”
In one month, FEMSelect has used the AcuityMD platform to identify more than 400 healthcare providers and 600 sites of care that could benefit from its technology. “As a startup trying to break into the U.S. market, we must be very smart and strategic about how we manage our resources. AcuityMD’s solution makes it faster to on-board sales representatives new to a region by delivering rich physician insights that could otherwise take many months to unearth and may not be as reliable. It’s truly instrumental to our commercialization efforts,” said Garner.
With the pace of the MedTech innovation accelerating, AcuityMD increased its annual recurring revenue (ARR) in 2022 by 317%, and customer growth by 253%, increasing its customer base to over 80 MedTech companies. AcuityMD’s platform translates large volumes of healthcare data, such as physician training backgrounds, procedural volumes, where surgeons operate, and peer networks, into intuitive workflows and recommendations that align with the MedTech industry’s unique commercialization process. It has resulted in more than 25% sales growth for top active sales reps and over $4 billion in opportunity pipeline.
Visit us at DeviceTalks Boston on Wednesday, May 10 at 11:45am for a panel discussion featuring AcuityMD’s Mike Monovoukas, along with Brennan Marilla, Chief Commercial and Operating Officer of Ossio, and Rob Brown, Chief Commercial Officer at Bolt Navigation, to hear how they are driving down the cost of commercialization.
