US Government Programs
Federal contract opportunities in the biomedical space come primarily from 2 Agencies:
Department of Health and Human Services (DHHS)
• National Institutes of Health (NIH)
• Biomedical Advanced Research & Development Authority (BARDA)
• Center for Disease Control (CDC)
Department of Defense (DOD)
While there is funding available from other agencies (Department of Energy, USAID, etc.) together these listed DHHS and DOD agencies issued over $5Bn in contracts in 2016 (Source: USASpending.gov) . While there are other divisions within these agencies that administer programs, for most biomedical companies, this is where the funding opportunities are. Of course, this is also where there is the most competition for contracts. FSA is a critical resource for companies that want to be in this space.
• Chem/Biodefense (CBD)
Joint Program Executive Office – Chemical and Biological Defense (JPEO-CBD)
Defense Threat Reduction Agency (DTRA)
• Medical Research and Materiel Command (MRMC)
• Naval Medical Research & Development
• Defense Advanced Research Projects Agency
In the Biomedical Industry, there is a product or service at the end of every investment of time, money, and inspiration. Achieving the best return on this investment is the primary concern of Management – How to address the market opportunity in a way that is profitable, sustainable, and enhances the ability to develop new opportunities that come from these activities.
Our proficiency is in Medical Devices and the Support Services to Biopharmaceuticals; Contract Services, Critical Supplies, Process Equipment, and Facilities. We provide the tools that connect your technology to the market; methodical, efficient, flexible, and effective.
The biomedical industry is unique. Revolutionary science, long development times, high risk, strong regulatory impacts, and uncertain markets at the finish because of the timelines. Financial planning and execution in this environment is mission and frequently survival critical.
FSA’s approach is pragmatic. It comes from our experience as Business and Operations Managers who became Financial Managers in order to be successful
• Know the cashflow every day:
When the money is coming & going and when you’re going to need more.
• Create buffers to the known unknowns.
• Assume ‘No’ to anything but the must-haves and require a credible business case to change your mind.
• Negotiate everything and expect to get a better deal.