Commercializing an innovation in healthcare is complex and hard. But, there are challenges and opportunities that lie within the artistic economics of healthcare.
Traditionally, medicine is practiced based on how insurance will pay for that medicine to be practiced. The lack of consumer empowerment and choice not only affects how medicine is practiced, but how difficult it is for entrepreneurs to commercialize their innovations.
What are some of the barriers to commercialization and how have they been changed recently? How does being intentional about the culture your are developing from the beginning affect your success? How can we remove the fear of risk to fail fast and fail up?
On this episode, I’m joined by founder and CEO of CaptureProof, Meghan Conroy, who shares her candid commercialization experiences and what it’s really like to ride the “roller coaster” of healthcare innovation.
"It's persistence that helps us get to the point where we can experience the fruit of our labor." -Dr. Roxie Mooney
3 Things You'll Learn
The power of:
- Reimbursement alignment for commercialization success
- Running like a lean startup while you're starting and growing
- Reoccurring revenue business models
Changing something as integrated as healthcare isn’t easy, but we shouldn’t use the challenges as an excuse not to do something. We have to make innovation easier in healthcare so we can really move the ball forward. The only way you can beat the odds is "don't give up."
Meghan Conroy is the founder and CEO of CaptureProof, a visual health record for HIPAA compliant photo and video communication between patients and doctors. Go to http://captureproof.com/ for more info or connect with her on LinkedIn https://www.linkedin.com/in/meghan-conroy-281a97 to get in touch with Meghan email firstname.lastname@example.org.