Healthcare Innovation Cycle for "MedTech" Solutions

MedTech is broad term for electro/mechanical medical devices. Tracking data has been added to show an example of an early stage team at risk due to a focus on technology. Select any Maturity Level to see the core Requirements or select the Requirements themselves to see a description of what is involved in completing a requirement and curated resources.

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Requirement

Preliminary Value Proposition

A statement that describes the value provided to key stakeholders that the testing indicates that the solution can achieve.
Innovators love to talk about WHAT their innovation is, how it works and why it is novel. However, customers want to know why they should consider buying something. A crisp value proposition for the envisioned product/service will allow customers to provide feedback on if they see the value in buying/using the product/service.
A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you.See Resources for more detail, but, in a nutshell, a value proposition is a clear statement that:- Explains how your product addresses a customers’ need/problems or improves their situation (relevancy),- Delivers specific benefits (quantified value),- Tells the ideal customer why they should buy from you and not from the competition (unique differentiation).

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Legacy Impact

Previous Impact data can be found here.

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how-hospital-administrators-make-purchase-decisions_research-studies.pdf

Google research on how hospital admins make purchasing decisions

Filing a US patent application on your own

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