Even with the best-laid plans, grant resources, and development, taking a product designed to solve a specific health condition to market comes with unique challenges and risk. In 2017, following an unsuccessful two-year battle for Medicare reimbursement, it became clear to Swallow Solutions that its SwallowSTRONG System designed to treat people with dysphagia (difficulty swallowing) would be neither affordable for most customers nor sustainable. Company leaders had some big decisions to make about the future of their business.
Rather than throw in the towel, Swallow Solutions decided to take another tack in their mission to help individuals who have difficulty swallowing—and Fine Point Consulting was right beside them as they made the transition, guiding the company through wind down with vendors and services associated with the outgoing product to make way for the new. With funding received in July 2016 from a new grant, Swallow Solutions has developed thickened beverages designed to help those with dysphagia. Fine Point Consulting has pivoted with Swallow Solutions as they transition back to product development, providing an effective and flexible mix of financing, compliance and grant reporting, and cash management to help keep the company moving forward.
Fine Point Consulting is more than a business partner—we treat them like they are part of our internal team. When you are running a start-up, it can be tough to see past next week. Managing cash flow, however, requires a long-term plan with constant course adjustments. FPC helped us manage through a complex pivot of our business and end the year with about twice as much cash in the bank as we had expected.
– Eric Horler, President & CEO, Swallow Solutions
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