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Why is Developing a Commercialization Plan for Healthcare Innovations so Hard?

So many healthcare entrepreneurs assume that developing new innovations that customers need or want will automatically result in market success. However, this is far from what research indicates.

The reality is that commercialization is a complex process with many inter-woven factors and decisions that affect success. To put it simply: it’s hard.

Apart from missing the complex nuances of the process, there are three key issues that help explain why so many innovators struggle to develop an effective commercialization plan:

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3 Tips to Help Discouraged Healthcare Startups Navigate the "Trough of Sorrow"

In our last post about 3 key challenges for health innovators, we touched a bit on the Trough of Sorrow, a.k.a. “The Founder’s Blues.”

The Trough of Sorrow is often attributed to the phase where the initial excitement of launching a startup begins to wane after numerous setbacks. Popular stories like Airbnb, Rent the Runway, and Uber leave us thinking that creating a disruptive innovation should be easy street. However, the reality is that commercializing an innovation is not easy, especially in healthcare.

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3 Challenges Every Health Innovator Must Overcome to Thrive in 2019

When we think of health and tech innovators — and any startup, for that matter — we think of hard work and perseverance (and maybe being in the right place at the right time) as the key drivers for success.

While these ingredients are critical for an innovation to gain momentum and diffuse through the mainstream market, these factors don’t guarantee success.

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What’s the Difference Between Launching and Commercializing a Healthcare Innovation?

We get countless inquiries from entrepreneurs who are looking for a marketing partner to help launch their healthcare innovation into the market. Sometimes these requests are to design a new product logo or a website, and other times it’s to develop a go-to-market strategy and plan.

While we’re happy to support clients with these strategies and tactics, there’s a lot more that goes into ensuring innovators reach their business goals. What many innovators don’t realize is that commercialization — generating a profit from the innovation — begins before the product is even fully developed, and continues long after it’s launched.

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How to Get Your Healthcare Innovation into the Right Hands

When you’re bringing a healthcare innovation to market, there’s a key list of mission-critical considerations that should begin well before you’re ready for launch. Innovators who fail to address these considerations strategically and proactively will find themselves struggling to assimilate into the market — and ultimately left in the dust.

Distribution is one of those considerations.

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How Should You Price Your Healthcare Innovation to Attract Customers, Cover Costs & (Gasp) Make a Profit?

Pricing is among the most important concerns for the longevity and sustainability of an innovation and the brand behind it. And, let’s face it: bringing a healthcare innovation to market ain’t cheap. This may be especially true for radical innovations that disrupt the status quo, which brings about a new set of considerations for innovators and customers alike.

There’s a delicate balance between finding a price that satisfies consumers while still covering costs for innovators, all while bringing in that coveted profit margin that companies need in order to thrive and expand into the marketplace.

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Opportunity Hides in Disruptive Mash Ups & Strategic Partners

Unlikely partnerships are disrupting to the Healthcare Industry. Startups and companies from other industries are nibbling at the edges of the traditional health ecosystem.

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