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Michael Monovoukas
CEO, Co-founder at AcuityMD
Michael Monovoukas is the CEO and Co-founder of AcuityMD, a company that provides a commercial intelligence platform tailored for the medical technology (MedTech) industry. He has been in this role since November 2019, leading the company in integrating proprietary market data with customer sales records to enhance MedTech commercialization efforts.13
Background and Education
Monovoukas has a strong educational background, holding an MBA from Harvard Business School and a BA in Public Policy and Finance from Princeton University. During his time at Princeton, he was also the captain of the swimming and diving team, leading them to four consecutive Ivy League championships.34
Professional Experience
Before founding AcuityMD, Monovoukas worked as a management consultant at Bain & Company, where he focused on commercial strategy for biotech and medical device clients. He also played a significant role at PatientPing, a care coordination platform, where he was involved in business development and finance during its growth phase from Seed to Series B funding.34
AcuityMD's Mission and Growth
Under Monovoukas's leadership, AcuityMD has rapidly expanded its services, supporting over 200 MedTech manufacturers, including six of the top ten global companies in the sector. The company recently secured $45 million in Series B funding to further develop its platform and introduce new products aimed at accelerating the adoption of innovative medical technologies.5
Monovoukas emphasizes the importance of leveraging data to drive sales growth within the MedTech industry, aiming to provide unparalleled visibility for companies navigating complex market dynamics.25
Highlights
What area of MedTech affects all humans (current and future), but only receives 1% of R&D funding?
WOMEN’S AND MATERNAL HEALTH In the US, maternal health outcomes lag other developed countries and are getting worse over time. What is stopping the medtech industry’s great innovation engine from improving these outcomes?
🔬 Clinical Research is expensive. It is harder to enroll pregnant patients into IRB-approved studies. There is an (understandably) more stringent review process, which increases the administrative cost to research pregnancy- or fertility-related conditions. State-level policies in the aftermath of Dobbs also complicate study enrollment.
💸 Reimbursement models are focused on cost reduction. Perinatal care reimbursement is typically capitated, which disincentivizes interactions with vulnerable patients. Capped reimbursement dampens innovation by limiting the opportunities to intervene and improve outcomes.
🏥 Access gaps create geographic deserts. As hospitals consolidate, there are fewer Labor and Delivery Units across the USA. Medicaid reimburses the most new births in the US, but is not universally accepted at hospitals due to lower payment rates. As a result, patients have to travel further and further to access obstetric care.
For MedTech innovators, this leads to expensive R&D to launch new products into cost constrained markets with a shrinking set of customers. These hurdles stifle innovation and affect the lives of countless mothers and newborns. If you attended #flywheel2023, you heard my own family’s story…
Thank you to MassMEDIC and Cambridge Consultants for hosting an excellent and thought-provoking "Women in MedTech" panel this morning. It was inspiring to hear from a diverse group of innovators who care deeply about solving these issues. Olivia, Morganne, and I enjoyed representing AcuityMD!
Thank you to the panelists and organizers. Huma Farid, Maureen Halligan, Liz Proos, Jennifer Luo Law, Brian Johnson, Rachel Robinson.
PS: Sarah Gordon you should come to the next one!
#medtechinnovation #maternalhealth #medtech
Excited to share a bit more about our journey and observations building for the #medtech industry at AcuityMD!
#medtech #medicaldevices #crm
