Ian Tidswell provides an infographic that provides the details of the key 6 steps to creating and capturing value in MedTech, from offer design through market access and reimbursement approval to new product transitions.
Success in the Medical Technology industry requires constant innovation. However, capturing a fair share of the value (pricing) from that innovation throughout the product life cycle is especially challenging given multiple market access hurdles, constrained healthcare budgets and diverse stakeholders.
The steps illustrated include:
- Pre-launch – market access with value recognized
- Communicating the values
- Gaining effective value access
- Segment and target buyers
- Incentives align channel
- In-market – value delivered and captured
View the detailed infographic on the Een Consulting website.
Sean McCoy idenfities three common denominators behind unsuccessful commercialization efforts.
After your Go-to-Market (GtM) strategy is designed and the planning is complete, it is time to move into execution. Implementation is when a strategy finally impacts the bottom line, which is why it is so vital to get the implementation right. Because Go-to-Market strategies are among the more transformational and comprehensive changes at a company, their execution is more complex, nuanced, and impactful, further increasing the stakes in implementation.
There are three major questions to answer when implementing a commercialization strategy: What is the governance? What is the rhythm? When do you scale? When companies answer these questions well, their GtM implementations are more successful. When they pass over these questions or answer them inadequately, their GtM implementations are more likely to fail.
Points covered in this article include:
- Governance & accountability
- The scaling model
- The cadence of activities
Read the full article, 3 Success Factors to Operationalize Your Go-to-Market Strategy, on the McCoy Consulting Group website.
Robbie Kellman Baxter reviews the progression of the subscription business model, from the early days of SaaS to a future of manufacturing based on the subscription model.
My first job after business school was as a product manager at an enterprise software company. I picked it because it was one of the first companies experimenting with what today we call Software-as-a-Service, and I could see that was going to be the futureIt just made so much sense. The old business model had been a licensing one. You paid a one-time (huge) fee to own the software and be able to run it on your site, using your own hardware. If you wanted to customize the software, you hired a professional services person to code it. Most people also paid for a maintenance contract for basic upgrades and bug-fixes. But if you had customized the software at implementation, then anytime you wanted to upgrade the software, you had to bring the professional services person back.
Points covered include:
-The benefits of Saas
-Transformation in manufacturing
-New business models
Read the full article, Why manufacturing is about to be disrupted by the Membership Economy, on Robbie’s website.