Lack of Market Adoption During Early Product Commercialization.
Inability to Expand into New Healthcare Verticals with a Proven Technology
New technologies in healthcare fail to reach early critical mass adoption because a combination of the following reasons:
Poor product market fit within a healthcare vertical
Key company resources are totally focused on the core business - this by the way was termed as "The Innovator's Dilemma" by the great Clayton Christensen (RIP)
Lack of understanding of the healthcare market segment they are going after (i.e. problems, competition, market trends, etc.)
Poor Go-to-Market strategy and execution
Poor unique selling proposition (USP) design
Weak ROI equation
Poor pricing strategy
Lack of engineering development resources in the case of Health-IT
Poor understanding of regulatory considerations and certifications (e.g. FDA, Medicare Policy, etc.)
Lack of connections, prospects and influencers in the new market segment
The combination of these factors prior to launch results not only in revenue loss to the company but a massive opportunity cost to improve the healthcare system and quality of patient care delivery.
At HealthTek Consulting we believe that innovations in healthcare technology and data are now - more than ever - rapidly transforming patient care and the management of health systems.
We founded HealthTek Consulting to help health IT and medical device innovators scale their solutions into the right healthcare market segments. We believe that by working together with many innovative companies, we can make a major difference in the delivery of care in the US.
We are a dynamic team of consultants with over 50 years of combined technology and healthcare management experience. Whether you are in the idea phase, in start-up mode, or an established company looking to expand into other healthcare markets, we can help you lay the ground work for successful product commercialization.
Who We Help
Healthcare Technology Companies
We help healthcare software technology companies position their products for the right healthcare market segment(s) and effectively drive adoption and market share during early launch. We can get involved early at the product design phase, development and beta stages or later on during the product life cycle as the product is ready for the business development and marketing phases.
Medical Device Companies
We help medical device companies with the early technology commercialization phases including FDA pathway requirements, competitive analysis and market positioning. We help companies secure access to early adopters and increase customer adoption rates for a successful launch.