"If you have someone who’s navigated the path before, it’s much easier to sell to a hospital system." -Dr. Ashish Atreja
Health systems have inherent challenges when adopting technology because of how they are structured. How does this impact the ability to commercialize innovations? Why is collaboration such a key ingredient to finding success when selling innovations to hospital systems? What challenges are innovators facing and what can they do to solve them?
On this episode, I’m joined by Dr. Ashish Atreja, the Chief Innovation Officer of Medicine at Icahn School of Medicine at Mount Sinai, co-founder of Rx.Health, and co-founder of Node.Health. He shares his experience with commercializing innovations within a health system and as an entrepreneur.
3 Things You'll Learn
1. How to find success selling to a hospital system
Many innovators who struggle are solo scientists or solo entrepreneurs. To sell to a hospital system successfully, it’s important to collaborate with people within that space. Get thought leaders, doctors, and even patients to work as consultants to help you navigate.
2. Why financial success or ROI is a must-have for effective messaging
Health systems are starved of finances, so the messaging strategy you use has to include a tangible financial success story. Even if the stakeholders think the innovation is clinically sound, there has to be evidence of its financial viability.
3. How getting doctors to prescribe your mobile health app is critical for consumer adoption
Prescribing apps are not only effective at engaging patients at a deeper level and improving their outcomes. They also help the provider and care community improve the efficiency of adoption of health systems.
To successfully commercialize your innovation, there are three key things every innovator needs to consider: how to create unique value, how technology can improve efficiency in the health system, and how to find partners who can extend the value nationally and globally.
Never underestimate what partnering with the right people can do. There are many scalable innovations in the market, but they don’t go anywhere because they don’t find meaningful partnerships to collaborate with. The greatest thing about healthcare is, if you’re bent on creating efficiency, there are so many ways to do it. You just need to have the right people and messaging in your corner to achieve it.
Dr. Atreja is an Associate Professor and Chief Innovation Officer, Medicine at Icahn School of Medicine at Mount Sinai. He is also a keynote speaker on healthcare innovation and digital transformation, Board Certified Informaticist, Internist and Gastroenterologist, and co-founder of Rx. Health. Go to https://www.linkedin.com/in/atreja/ or http://applab.nyc/. Follow him on Twitter @atreja.