In a field as innovative and diverse as the medical device industry, finding the right consulting firm for your company has the potential to be a stressful experience. In determining if a firm is the best possible fit, it is crucial to have a clear understanding of what the direct needs of your company are and how a consultant can help bridge the gap to reach those goals.
Tracy Eberly and Fang Consulting acknowledge that one of the most important markers for deciding if a medical device consulting firm is the right fit is whether they have worked with your device classification previously. The importance of experience with medical devices that your company specializes in is clear, as it difficult to ensure proper regulatory and quality management if your medical device consulting firm has no prior experience with your device space. On the other hand, medical device consultants that have worked with offerings that are like yours will have a much better grasp of logistics such as applicable standards in the space as well as specific guidance documents.
Tracy Eberly and Fang Consulting have experience serving a variety of different sized companies, ranging from startups, midsized, and billion+. To this point, Tracy Eberly and Fang Consulting acknowledge that the needs companies have vary largely based on their size and goals. For example, startups may need to be advised on crucial, integral steps such as regulatory submissions and QMS system developments to establish a strong foundation and room for growth. As a medical device company, it is crucial to work with consultants that have experience operating within the scope of businesses that are your size and at your stage of development. Some startups, for instance, hire consultants that mainly have experience with larger companies, only to find that their experience is not necessary before they have devices in commercial distribution. A mismatch such as that example could pull key resources away from critical activities that are more pertinent to what you company needs to be successful.
Expertise in both your area of specialization and business size are crucial, however Tracy Eberly and Fang Consulting note that some facets of choosing a consultant can be more subjective in nature. For example, one cannot discount the importance of selecting an advisor or consultant that you feel as though you can trust. A great way to determine how comfortable you feel with a consultant is by remaining aware of how they engage. You certainly want to have members on your team that have some level of humility, can admit if they are wrong, and can hear out other opinions as they relate to strategy. This ability to be flexible defines the medical device consulting space and is a coveted trait for those that are looking for a consultant that can bring their company and offerings to new heights.