How Health Innovators Maximize Market Success



How Health Innovators Maximize Market Success


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Table of Contents

Section I: Setting Yourself Up for Commercial Success
Section II: The Difference Between Launching and Commercializing a Healthcare Innovation
Section III: Managing the Strategy Development Process Is Essential for Commercial Success
Section IV: Timing Strategies: Early Mover, Follower, or Late Entrant
Section V: Targeting Early Adopters for Your Commercialization Strategy
Section VI: Setting Up Your Pilot for Success as Part of Your Commercialization Strategy
Section VII: How to Rise Above the Noise as Part of Your Commercialization Strategy
Section VIII: How Branding Impacts Diffusion of Your Healthcare Innovation
Section IX: The Why, How, and When of Co-creation During Product Development
Section X: Tips to Encourage Health Innovators to Survive

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How Health Innovators Maximize Market Success

Strategies to Launch and Commercialize Healthcare Innovations

by Dr. Roxie Mooney

Commercializing an innovation is hard, especially in healthcare. Health innovators often assume that just because an innovation solves a real problem or is technically and functionally superior to competing solutions, it will automatically result in commercial success. This is far from reality.

In fact, 95 percent of innovations brought to market fail to reach an adequate level of customer acceptance and profitability. Accenture studied nearly 900 digital health startups and found that just over half were “zombie startups, at risk to die.”

Health innovators want–and need–to know the best strategy to adopt to increase their chances of market success. There are many things that can get in the way. What I find again and again is that innovators either confuse or interchange the processes of launch and commercialization, or they focus completely on one and ignore the other.

Based on my research and experience, launch and commercialization are different functions of the innovation process, but it’s commercialization success that ultimately drives market success.

So what drives that commercialization success? The people you need to be successful with. My research indicates that success in the mainstream market depends on success with early adopters, those who try (and love) your product first. If you are not successful with them, you cannot be successful over the long term.

This book is written for health innovators who want to discover not only how to avoid failure, but also how to adopt the key components of an early adoption commercialization strategy. By applying these insights, health innovators will not only increase their chances of success, but ensure that they are making the most of their healthcare innovations.

How Health Innovators Maximize Market Success is part of the THiNKaha series, whose slim and handy books contain 140 well-thought-out AHA messages. Increase your online influence by picking up AHAthat, and easily share quotes from this book on Twitter, Facebook, and LinkedIn via this link: http://aha.pub/HealthcareInnovations


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About the Author

 

Dr. Roxie Mooney
Dr. Roxie Mooney

 

Dr. Roxie Mooney, DBA helps health innovators maximize market success. She combined twenty years in marketing, ten years as an agency owner, and a doctorate in business that uniquely focuses on healthcare innovation into a blueprint for making commercialization decisions. It’s called CoIQ Early Adoption Commercialization Strategy, and that’s what helps health innovators not only avoid failure but also increase their chances of success and ensure they are making the most of their healthcare innovation.

She also produces and hosts CoIQ with Dr. Roxie, a first-of-its-kind interactive video and podcast show where top health innovators, early adopters, and influencers speak candidly about their healthcare innovation experiences. She recently published, “How Leaders Market and Commercialize Healthcare Technology Innovation,” in the peer-reviewed Journal of Business & Economic Perspectives (JBEP) and is an associate professor at the Jack Welch Management Institute and Palm Beach Atlantic University.


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ISBN:
Hardcover: 978-1-61699-337-5 (1-61699-337-5)
Paperback: 978-1-61699-336-8 (1-61699-336-7)
eBook: 978-1-61699-338-2 (1-61699-338-3)


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