The growth in chronic disease in an ageing population and the push to meet consumer demand for better treatments means there is a need for careful investment choices for medical research institutes and universities.
O’Connell Advisory have worked closely with the Office for Health and Medical Research (OHMR) for a number of years to monitor and evaluate the outcomes of various grant schemes including the Medical Devices Fund (MDF) and Medical Research Support Program (MRSP).
We have also provided advice to numerous medical research institutes and universities. Services provided have included:
- The preparation of business plans and financial projections
- Infrastructure development plans and funding strategies
- Preparation of grant and funding applications
- Evaluation of the efficiency and ongoing sustainability of the institute
- Strategic reviews.
This process involves the development of financial models to assist with the analysis of strategic options.
O’Connell has also assisted with the development of funding applications for new technologies. This has included market analysis (including market size estimation), competitor analysis, development of the optimal operational model (revenue, costs and staffing) and measurement of the economic benefits of the proposed service.