How Nixon Gwilt Law Supports Virtual Reality Businesses on the path to Commercialization
Many futurists believe augmented reality (AR) and virtual reality (VR) are the next frontier for healthcare—and the stats back up that claim.
With a projected global market of $9.7 billion by 2027 (Source: Research and Markets), innovative companies have already started capitalizing on potential applications, such as self-guided pain management programs and immersive cognitive stimulation for adults with dementia.
Innovation and market potential like this bring both opportunities and challenges, as the legal and regulatory environments for such revolutionary technologies are still emerging.
As laws and rules evolve, innovators are challenged to find an efficient path to market and growth that is compliant but doesn't break the bank.
That’s where we come in.
Nixon Gwilt Law helps AR and VR healthcare innovators like you navigate the legal landscape to ensure a smooth journey from building your product to commercialization and beyond—even when you’re operating in areas of regulatory uncertainty.
(If we’re sharing the VR Reimbursement Tool Kit on our blog, imagine the level of regulatory and business advice our clients are getting!)
Why AR and VR Healthcare Innovators Choose NGL
Every year we work with hundreds of change agents moving in the same direction: forward. Innovation is our bread and butter, and we solve problems and leap hurdles for our clients every day so they can change the world.
While other firms may hesitate to invest their time into up-and-coming healthcare technologies like VR and AR, Nixon Gwilt Law has been tuned into this tech from the beginning.
We’re dedicated to building the industry with you.
Besides being a 100% healthcare innovation firm with one of the deepest benches in the industry, we’re also innovating in the way we deliver our services.
From alternative fee arrangements so you always know what you’re paying to a collaborative work style that gives you more expertise without adding to your in-house legal team, our law firm allows us to serve innovators all over the world.
We repeatedly get feedback that our “can do” attitude in finding ways to help our clients innovate is what sets us apart from other law firms.
We’re not here to tell you no. We’re here to help you achieve your business goals.
Clients Say:
“I love that you can deal in the grey zone, because I’m totally in that space with my own business.”
—Digital Health Founder
Healthcare Innovation Founders Trust Our Expertise and Practical Experience
We help VR and AR healthcare innovation companies:
Explore reimbursement opportunities
Identify sustainable revenue models
Examine and navigate FDA pathways for devices and software
Craft an IP strategy to protect company assets
Prepare initial investment documents
Implement evolving Privacy and Security requirements
Launch with a solid foundation of regulatory compliance
Streamline the sales cycle and accelerate the close of deals
Develop an equity incentive strategy
Partner with payors, health systems, or providers
When you add a healthcare innovation attorney to your key business discussions, you’ll find it easier and faster to innovate, anticipate, and operate.
Why Legal Advice Early in the Product Development Process Is Critical
Imagine getting your solution to the finish line and then seeking healthcare innovation counsel—only to find out your solution does not fit specific regulatory or reimbursement requirements.
Going back to the drawing board drains your resources and delays getting to market, which can impact revenue and investor satisfaction.
That's why it's essential to consider your applicable regulatory framework (or where it is heading) from the start and design products with intentional compliance in mind.
Clients Say:
"NGL provided consistent guidance as we continued to develop our platform and acted as a real ally, ensuring that we continued on the right path."
—General Counsel, Digital Health Company
Frequently Asked Questions
What are some common applications of AR and VR in healthcare?
AR and VR are revolutionizing healthcare by offering new ways to diagnose and treat patients, train medical professionals, and manage patient care. For instance, AR can guide patients through therapeutic exercises, while VR can be used for exposure therapy in behavioral health treatments or to help stroke patients regain motor functions.
What regulatory considerations apply to AR and VR healthcare applications?
AR and VR healthcare applications must navigate a complex regulatory landscape that can vary by jurisdiction. This includes FDA regulations in the U.S. and similar bodies worldwide. Companies partnering with healthcare organizations will also need to understand and navigate state and federal fraud and abuse laws like the Anti-kickback Statute and Stark Law, as well as keep track of new legislation that may impact their business. AR and VR applications may be classified as medical devices and may be required to meet specific regulatory requirements related to safety, efficacy, and data security.
What exactly does Nixon Gwilt Law do for AR and VR healthcare innovators?
Nixon Gwilt Law offers comprehensive legal services to AR and VR healthcare innovators. From navigating complex FDA regulations and strategizing for market entry, to intellectual property protection and commercial contracting, we support your company at every stage. With our help and support, you can operate confidently within the evolving legal landscape of healthcare technology.
How can Nixon Gwilt Law help me monetize my AR and VR healthcare solution?
We help our clients identify optimal reimbursement and revenue models for their ventures. The NGL team can provide insights into different commercialization and reimbursement strategies, going to market, your goals, and relevant regulations into consideration. Our goal is to help you maximize your product's market reach and your company's growth potential.
How can Nixon Gwilt Law streamline commercial contracting?
Our team can develop a simplified template for use with multiple customers, making it easier for you to close deals. We also help clients understand the language and legal jargon to assess risk. By working with us, you can save time negotiating with a potential customer's legal department and get your revenue flowing sooner.
Resources for AR and VR Healthcare Innovators
Interested in learning more about business models, reimbursement, law and policy updates, or market insights?
Get the VR Reimbursement Toolkit (perfect if you’re wondering how to get paid while VR is not really getting paid)
Subscribe to our biweekly summary on LinkedIn to find out how law and policy changes impact your virtual care business..
Gain legal and business insights by subscribing to our monthly email for novel and disruptive healthcare business leaders.
You can also listen to dozens of past interviews with top innovators on Decoding Healthcare Innovation.
Clients Say:
“The transparency in costs and commitment to deadlines is something you just don’t get from other lawyers.”
—CEO, Digital Health Business
Whether you are a startup or a mature healthcare innovation company seeking to expand your global reach, Nixon Gwilt Law has the expertise and experience you need to succeed.
Schedule an introductory call with one of our attorneys now to find out how we can help your healthcare innovation company navigate the complex legal landscape of the healthcare industry and position your business for success.