Creating Great MedTech Products: Why Conventional Wisdom Doesn’t Work

Life Sciences, Clinical Trials, Medical Device,
  • Thursday, November 12, 2020 | 1pm EST (10am PST)
  • 60 min

Relying on conventional wisdom leads to an estimated 72% of all new products and services failing to meet expectations.

On the other hand, successful medtech companies marry – from the very beginning – a technologist working on an as-yet unproven technology with a marketing person who is testing hypotheses about unmet market needs. It is a marriage that lasts until either the product is successfully launched or the technology is dropped.

Powerful go-to-market and reimbursement strategies are two critical elements required to deliver great medtech products to the marketplace.

Go-to-market strategy: Go-to-market (GTM) plans and performance directly impact every value creation moment throughout a company’s existence – financings, strategic partnerships, mergers & acquisitions, new products in development, and existing products in the marketplace. That means GTM issues need to be top-of-mind every hour of every day. GTM is also difficult because success requires companies to simultaneously address product-centric challenges, organization-centric challenges, and marketplace-centric challenges. Tackling these three complex challenges requires the development of product-market fit, organizational fit, and business-model fit solutions, respectively.

Reimbursement strategy: Given the current healthcare environment, it is critical to articulate product value not only to clinicians but also other key stakeholders, such as payers. Reimbursement and revenue are inextricably linked; defining the clinical and economic value that a new technology has to its diverse stakeholders – i.e., clinicians, patients, payers – is essential to adoption, payer coverage and payment and ultimately revenue. Successful companies integrate their market access and reimbursement planning into the earliest phases of product development.

In this webinar, we will describe how not to be conventional by exploring the key elements of successful go-to-market and reimbursement strategies that deliver great product and company value.

Speakers

http://Mark%20Girardi,%20Boston%20Healthcare%20Associates

Mark Girardi, Senior Vice President, Boston Healthcare Associates

Mr. Mark Girardi has over 30 years of experience in life sciences, in vitro diagnostics, and medical devices commercialization and reimbursement. He has had roles in product management, sales and marketing, and most recently in strategy consulting.

Mr. Girardi joins us from GfK Health, a global consultancy and market research firm, where he was Senior Vice President responsible for the MedTech consulting practice. Prior to joining GfK, Mr. Girardi spent five years at Predictive Biosciences as VP of Sales and Marketing. He also served as Senior Director of Marketing at Z-Tech Medical where he was responsible for commercialization of the company’s breast cancer screening devices. As a Director of Marketing at Cytyc Corporation (now Hologic), he managed the worldwide launch of the Thin Prep Imaging System. Mark has also held senior marketing positions at Genzyme Genetics and Millipore.

Message Presenter
http://Donald%20B%20Hawthorne,%20GTM%20Hawthorne

Donald B. Hawthorne, President, GTM Hawthorne

Mr. Donald Hawthorne is the President of GTM Hawthorne, a global go-to-market (GTM) consulting firm, where he helps life science companies take their products and services to market with greater speed and capital efficiency. Drawing on his C-suite experiences (CEO-5, COO-2, and CFO-3) and 36 years in the life science industry, Mr. Hawthorne brings an operating executive mindset to his GTM work and serves as a peer-level partner coach with executive teams. His novel GTM framework has an 85% GTM consulting project success rate. He delivers those outcomes by clarifying GTM issues, designing robust value propositions and business models, and enabling superior valuations and operating performance. Mr. Hawthorne earned his BS in mathematics from Harvey Mudd College and his MBA from the Stanford Graduate School of Business.

Message Presenter

Who Should Attend?

The presentation will be useful for senior professionals working within:

  • Clinical Affairs
  • Government Affairs
  • HEOR
  • Innovation
  • Managed Markets
  • Market Access
  • Medical Affairs
  • Payer Policy
  • Reimbursement
  • Strategic Marketing
  • Strategic Planning

As well as C-Level professionals and Equity Investors

What You Will Learn

Participants of this webinar will be able to:

  • Identify the three organizational habits that create an adaptive, high-performance corporate culture capable of powering innovation.
  • Understand how to apply jobs-to-be-done theory to build shared organizational beliefs about unmet customer needs, enabling the realization of product-market fit and making innovation outcomes more predictable.
  • Identify how profitable and scalable business models have to be desirable, viable, feasible, and adaptable, and why it is important to test critical business model hypotheses from the beginning.
  • Understand the critical market access considerations required to ensure future revenues.
  • Understand the link between unmet need and establishing product value.
  • Identify key pieces of data or evidence required to support product value.

Xtalks Partner

Boston Healthcare

Boston Healthcare is a global strategy consulting firm that provides market access and value optimization strategies to healthcare technology and service innovators. We help clients unlock the value of medical devices, diagnostics, biopharmaceuticals, and informatics that have the potential to transform patient care and significantly improve health outcomes.

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