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Legacy DNA Combines Science, Storytelling, and a Fresh Perspective to Tackle the Healthcare Industry’s 90 Percent Innovation Failure Rate

Legacy DNA’s CEO and Chief Marketing Scientist Dr. Roxie Mooney, DBA, has dedicated her career to understanding the climate of healthcare innovation and commercialization, including her peer-reviewed and published doctoral research. Now, the Legacy DNA team brings this knowledge to the market to help healthcare innovators circumvent failure and maximize ROI.

With innovation failure rates estimated as high as 90 percent, leaders in the healthcare industry need a strategic, calculated, and research-backed plan to successfully move new products, services, and business models from an idea to concept to commercialization. Orlando’s Legacy DNA Marketing Group, led by Dr. Roxie Mooney, DBA, uses marketing science, storytelling, and the most current commercialization of innovation research to help these innovators circumvent failure and maximize ROI in an increasingly challenging and competitive landscape.

For years, Dr. Roxie has studied the commercialization strategies and tactics used by business leaders, as well as the common pitfalls that prevent even the most promising innovations from reaching commercial success and mainstream adoption. The findings from her doctoral research were published as an article in the Fall/Winter 2017 volume of the University of Tennessee Martin’s peer-reviewed Journal of Business and Economic Perspectives titled, “How Leaders Market and Commercialize Healthcare Technology Innovation”.

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In her original dissertation, she explored and analyzed various strategies for successful commercialization—across all phases of the innovation process—and the nuanced differences for radical and incremental innovations. Dr. Roxie found that commercial failure was often linked to challenges associated with being a first-mover and having unclear branding, positioning, and messaging, especially for a radical innovation. To make her findings more accessible and actionable for health innovators, she’s adapted her dissertation into a white paper titled, “10 Steps to Healthcare Technology Innovation Success.”

“The more you delve into the data and research, the clearer it is that there are patterns, obstacles, tendencies, and commercialization decisions that can mean the difference between success and failure for new innovations,” says Dr. Roxie. “There are so many promising advances with the potential to revolutionize healthcare. I want to help guide as many health innovators as possible through the commercialization process because getting their new products, services, and business models into mainstream is the only path to better patient outcomes and enhanced ways of practicing medicine.”

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With this research, Dr. Roxie and the rest of the Legacy DNA Marketing Group team demystify the innovation process with a proven Commercialization of Innovation (CoI) framework for new and established companies. From understanding true market need, to defining the minimal viable product, to circumventing death by pilot when obtaining proof-of-concept or clinical validation, to dispelling brand confusion after integrating the innovation into the product or service portfolio, and much more, the Legacy DNA Marketing Group team is highly-experienced and well-equipped to lead innovators to success.

“The healthcare innovators who truly flourish are the ones who start meticulously planning their commercialization strategy well before the product is fully developed. Too many healthcare leaders wait until the product is completely developed before they start thinking about commercialization,” adds Dr. Roxie.

Legacy DNA Marketing Group has won several awards and accolades for its work, including the Aster Awards’ “Excellence in Healthcare Advertising” and recognition from Colorado Healthcare Communications, the Florida Society for Healthcare Public Relations and Marketing (FSHPRM), the Florida Public Relations Association (FPRA), and Florida Magazine.

To download Dr. Roxie’s white paper, “10 Steps to Healthcare Technology Innovation Success,” visit the Legacy DNA website. Her research as published in the Journal of Business and Economic Perspectives is available here.