Areas of Expertise
As mentioned in my introduction, I review medical technologies to determine which technologies will be reimbursed for a major health plan. I lecture around the US on what needs to be done to obtain reimbursement. With the right reimbursement strategy everyone wins; payers get technologies that improve quality of care, physicians get paid for their work and VCs get returns on their investments.
With the right payer strategy (a mix of health economics, reimbursement and timing) medical technologies may be very profitable. It is imperative that companies structure their product to give payers what they want as they are the ones who hold the purse. When you meet with a payer and what is discussed can make all the difference in terms of success or failure for a new venture.
Health Economics and Outcomes Research (HEOR)
HEOR is the combination of clinical outcomes and money. More and more payers and hospitals are relying on HEOR studies/arguments to determine if the technology will be adopted or reimbursed. If the new technology is 10% better than the standard of care but is 11% more expensive will it be paid for? If so, who is the beneficiary, the insurer or the hospital? These issues are addressed in HEOR.
Any entrepreneur or investor involved with a startup where reimbursement may be an issue needs to talk to Nic. Not only is he an expert in reimbursement, he’s one of the brightest minds I know in understanding medical innovation generally.
Nic was very informative and provided the deep complexity of the payer position to help our questions get answered and understand if our current strategies are accurate. Very knowledgeable from a research and clinical review perspective as well providing examples of what type of content providers look to for product or service validation
Found Nic to be very knowledgeable and facilitating. Gave concise answers and definitely pointed me in the right directions. Wouldn't hesitate to talk to him about payment and reimbursement anytime. Nic is also very knowledgeable in digital health, really knows where medicine is headed. 5 stars!
Nic was exceptionally knowledgeable, engaging, and a pleasure to speak with. The discussion was highly informative and productive.
Best investment we could have made.
MM"Nic was referred to us by a member of our board who heard him speak at a symposium in Salt Lake City. Nic was speaking on medtech/biotech commercialization and reimbursement and afterward mentioned to our board member that he had reviewed one of our products and was impressed with its clinical utility and market position. We called Nic and after a one hour discussion decided to realign our budget and hire someone to lead our Clinical Development Program. Nic "gets" medtech and what it takes to get paid for medical advances. We're glad we spoke with him."
SWNic is a true self-starter and is a valuable asset to any team. It has been my pleasure to interact with him both in and out of professional settings and his level of maturity and breadth of knowledge are refreshing. Nic possesses an uncanny sense of humor and is extremely approachable; this potent combination fosters strong relationships and lasting networks. I look forward to working with Nic in the future.
DSNic has a thorough understanding of mobile health and medical device markets. Any entrepreneur, angel, or VC investor would be well-served to make a 1-2 hour meeting with Nic a top priority.
NMI had the good fortune of discovering Nicholas through one of his talks at a health fundr business meeting. He has a very detailed and deep understanding of the business side of the medical device industry. I was very impressed by the novel approach he took to analyze a commonly shared dilemma among medical device manufacturers. Not only did he eloquently discuss the issues that burden medical device manufacturers, he went on to offer extremely insightful solutions to those problems and ways to prevent them from having a crippling effect on the growth of a medical device company whether it is a start up or an established industry giant. Nic is a true professional, he is very approachable, kind and witty. This combined with his intelligence and expertise makes him a rare talent. I am very much looking forward to continue working with him and to be guided by his knowledge and vast expertise.
KHNic understands medical devices and diagnostics and how they fit into the entire healthcare system. He understands and can communicate effectively how to justify the value of these devices and to obtain appropriate reimbursement for those products. If more people in healthcare had this problem-solving approach and communication ability, we would have a more efficient system
JINic has a rare talent for advising and coaching innovators about the complexities of reimbursement for medical technologies. He's able to cogently present solutions and feedback for innovators in need of guidance. I've had the pleasure of speaking on panels with Nic and hearing him present to large audiences about the future of health innovation. He's engaging, charismatic, and very knowledgeable. If you ever have the opportunity to hear him speak, or seek his guidance, don't miss it.
JSNic was introduced to me by the Director of the UC-Berkeley/UCSF Master's in Translational Medicine program. After talking with Nic, I asked him to visit UCSF to give a 2-hour guest lecture for our master's students, focusing on how insurance companies make decisions about paying for technologies. Nic's real-world experience and spot-on case examples were exactly what the students needed to hear. They talked quite a bit in subsequent class sessions about how important the perspective Nic shared was to shaping their own business technology strategies. His guest lecture was highly reviewed, and I look forward to his teaching this material in future years. Based on his deep knowledge of this subject matter, I'd highly recommend him as a consultant to any medical technology company that needs to understand the market and develop strategies to ensure the greatest market penetration possible.
DBAt the end of the day, no-one wants a consultant who knows someone else who can get the job done. The statement is even more applicable when it comes to health economists, reimbursement, and quantitative assessments of new technology. As a CEO of a medical device company, we want extremely competent individuals who have direct payor experience and possess the analytical skills to gain successful market acceptance and reimbursement in an efficient and timely manner. Nic Anderson is one of these individuals. He not only understands the nuances of reimbursement, health economics and the differentiation between integrated and normal payors, but he is the only consultant I’ve met that also appreciates the business and financial constraints of the companies he represents. I am convinced we could have easily spent 3 times as much on inferior results with some of the larger players. Deliverables exceeded expectations and were obtained in a fraction of the time that was quoted from other health economists. It was apparent from the beginning that he wanted us to succeed. Without question, N C Anderson consulting is one of the best investments our company has ever made. David Blurton, CEO Plexus Biomedical Inc.
TPNic is extremely knowledgeable in the field of healthcare economics and medical technology analysis. His presentations are very factual, yet engaging and memorable. He has the capacity to greatly contribute to business or ventures he's involved in.
AMNic is an exceptionally astute medical device strategist, with an impressive ability clarify the nuances of commercialization in our changing medical environment. Nic combines engineering accumen with practical experiences to provide powerful insights for success.
- Health Sectors
- Medical Devices, Biotech, Healthcare Delivery, Diagnostics, Payers
- Markets, Health Indications, Health Issues
Board of Advisors
Stethee | December 2014 - Current
For the first time ever, one can track & monitor their heart sounds at home. Stethee better empowers individuals to easily manage their and their family's health with beautiful hardware and amazing interfaces. This is the future of medicine.
KneeMD by Promotus | January 2012 - Current
KneeMD is a simple device designed to improve range-of-motion in knee surgery patients.
Member Board of Advisors
Valaurum, Inc. | April 2014 - Current
Valaurum sells the smallest verifiable unit of gold available on the world market. The Aurum makes gold ownership safe, convenient, divisible, durable, beautiful and affordable.
Senior Medical Technology Analyst
Select Health | February 2010 - Current
Senior Medical Technology Analyst for Select Health and Intermountain Health Care. Research medical technologies for evidence of the efficacy, safety and utility of the technology within our medical system. With these data, make recommendations to Select Health concerning the medical device/procedure/diagnostic test to determine if we will reimburse for its use.
Medical Technology Consultant
N C Anderson Consulting, LLC. | April 2009 - Current
Provide consulting on strategy, reimbursement and clinical trial protocols for medtech companies. Use knowledge of insurance reimbursement practices, anatomy, physiology, medical devices, molecular diagnostics, biomedical imaging and evidence based medicine to guide businesses in their decision making processes. By providing sound health economic information, firms and start-ups will be more likely to generate returns on their investments.
Director of Market Access
PolarityTE | February 2017 - Current
Direct market access efforts, clinical trial design and health economics for PolarityTE products and services.
Sensoplex | August 2016 - Current
Sensoplex is a manufacturer of wearables used in biotech, pharma, consumer and fitness markets.
Advisory Board Member
KP Biosciences | September 2015 - Current
KP Biosciences is dedicated to the development of antiviral solutions for highly resistant strains of infectious diseases.
Healthfundr | May 2014 - Current
Healthfundr makes it possible to invest alongside experienced lead investors in exciting health startups. On Healthfundr, individuals can be among the first to discover and invest in the innovative startup companies improving the future of our health.
Lassonde New Venture Development Center | May 2010 - May 2012
Find and evaluate market applications for medical technologies emerging from the University of Utah. Provide exhaustive research into the size, growth and direction of potential markets. Develop competitor profiles and market penetration strategy. Evaluate and develop business models. Consult on funding strategies.
Boston University School of Medicine | August 2008 - September 2009
Investigated the aging of the normal (non-pathological) brain using MRI parameters. Studied the rhesus monkey brain with magnetic resonance imaging and diffusion tensor imaging techniques with magnetic resonance spectroscopy. Used T1 weighted images to assess white matter characteristics by age. Applied spectroscopy to assess neurometabolite concentrations in anterior and posterior regions of interest and their change within the aging brain. Employed DTI pulse sequences to evaluate the microstructural integrity of white matter.
Purdue University | December 2007 - Current 2008
Studied the effect of vitamin D on the small intestine and colon in cancer models. Examined anti-proliferative properties of vitamin D by altering the human vitamin D receptor. Prepared plasmids for DNA isolation. Performed western blot and RNA studies. Seeded, transfected, treated and harvested cells. Presented findings to project head.
Brigham Young University | December 2005 - Current 2006
Organized research project in the Chiang Mai Drug Rehabilitation Clinic in Thailand. Studied physician and psychologist practices and how these practices correlated with patient care. Initiated activities for the well-being of patients and taught self-reliance courses for those preparing to be discharged from the inpatient clinic. Raised funds for the trip and implemented strategies to save money, organize and maximize the hospital and facilities.
University of Utah | December 1999 - Current 2001
Examined the effects of jetlag on the gastrointestinal tract. Used mice to investigate neuronal changes of the suprachiasmatic nucleus induced by jetlag. Completed gastrectomies and encephalectomies for ex-vivo analysis of sleep deficiency induced ulceration in rat populations. Discovered a link between goblet cell activation and wake/sleep cycle disruption.
University of Utah - David Eccles School of Business
MBA | Business | 2010 - 2012
Boston University School of Medicine
MA | Bioimaging | 2008 - 2009
BA | Behavioral Neuroscience | 2006 - 2008