It’s hard to believe that it’s already 2019. (I know… we all say it every year. And this year’s no different!)
From major changes to the US health insurance model to the advancement of incredible technologies like blockchain and AI, this past year has made it certain that we have so much to set our sights on moving forward.
Let’s recap a few of Legacy DNA’s top blogs of 2018, and how these themes and concepts continue to be key priorities of every healthcare innovator’s 2019 plan
To earn trust and credibility before mainstream launch, it’s a common practice for healthcare innovators to enter into pilot programs with prospective customers. While this can be effective, it can also end in what we call “pilot purgatory” or “death by pilot” – the unfortunate trap that occurs when the prolonged and costly nature of pilots collide with the risk-averse and cautious traits of the industry.
This blog addresses the key risk factors and conditions that can lead to a startup’s unfortunate demise, as well as some checkpoints and guidelines to help increase an innovator’s chances of success in the rocky terrain of pilot programs.
The blog discusses how to:
- Choose your partners wisely – one of the most important considerations that’s often hidden in plain sight
- Ensure you don’t run out of financial resources before seeing results or value from the program
- Navigate partner agreements and communication for the smoothest possible process on both sides
We’re not going to sugar-coat it: there’s a huge difference between launching and commercializing an innovation. Unfortunately, many innovators aren’t aware of the difference – which often translates into missed opportunities and outright failure to reach mainstream adoption.
Simply put, launching is a much smaller-scale process that involves bringing an innovation to its first market release. Commercialization starts sooner and ends later than your launch: it’s the holistic and highly-strategic process of generating profit from the innovation.
This blog discusses:
- The most important takeaways of these differences such as timing, goals, and specific activities related to each process
- Tips to ensure that you’re making all the right decisions at just the right time
- How to maximize your innovation’s profitability, market viability, and ultimate long-term success
Now that you know the difference between launching and commercializing, you’ve solved part of the puzzle of why it’s so hard to develop a commercialization plan.
In addition to this concept, we’ve found that innovators typically share other common obstacles. These include the lack of a proven, repeatable commercialization framework, as well as failing to address the strategic differences needed to successfully commercialize a radical versus an incremental innovation.
In this blog, you’ll learn about:
- A breakthrough tool in helping to cure the woes of the innovator: an integrated commercialization framework that gives you a clear, organized, and focused path to market success
- The three sub-strategies of a successful commercialization plan that simply can’t be ignored
- The (surprisingly big) nuances of commercializing a radical vs. an incremental innovation, and how to identify and strategize for your own
Preparing for Your Best Year Ever in 2019
With 2018 as our guide, we can see that healthcare innovators have a lot to look forward to – and frankly, a lot to watch out for – in this new year.
On one hand, we’re all talking about the inertia in healthcare. From the outside looking in, it seems as though nothing is changing. However, the other hand tells a different story: the healthcare industry is actually changing quite rapidly, and the brands that can’t keep up will be left in the dust.
Download our infographic to learn more about the top healthcare trends that are shaping, driving, and changing the game in 2019.
And, to deep dive into what this all means for your company’s unique commercialization plans and goals, contact us for a free consultation.
Watch. Listen. Succeed. Tune into CoI’Q with Dr. Roxie: a first-of-its-kind interactive video show where health innovators, early adopters, and influencers speak candidly about their commercialization experiences,