28 min listen
Medical Device Product Development Value Proposition
FromGlobal Medical Device Podcast powered by Greenlight Guru
Medical Device Product Development Value Proposition
FromGlobal Medical Device Podcast powered by Greenlight Guru
ratings:
Length:
33 minutes
Released:
Nov 7, 2019
Format:
Podcast episode
Description
It doesn’t matter how long a company has been in business. Startups to established companies need to remain focused on the value proposition of its device product development efforts.
Today’s guest is Scott Phillips, CEO of StarFish Medical. He offers advice on how to approach value proposition depending on the stage of your business.
Some of the highlights of the show include:
● What does your company value? Point priorities in the right direction.
● Founders start a company because they want to make an impact, offer value, but own most of it.
● Equity Preservation for Startups: Avoid the trajectory of delusion after raising millions of dollars of capital.
○ Be skeptical of advice
○ Identify and address risks
○ Focus on what investors value
○ Understand value of minimum viable product (MVP)/lean startup concept
● StarFish uses a framework that addresses 12 functional areas to identify client’s target audience, IT environment, reimbursement strategy, and other factors.
● There’s plenty of horror stories about when things go bad. Also, it can be considered bad business when companies rush to get in human-type studies.
● Equity Preservation for Established Companies: Basically the same as startups, except the notion that future money is cheaper than current money doesn’t apply.
● Established companies tend to place more emphasis on regulatory processes, submissions, and clearances. StarFish helps startups fill gaps in such areas.
● Those in a product management role at a startup often have a tech background and don’t understand the role’s responsibilities.
Today’s guest is Scott Phillips, CEO of StarFish Medical. He offers advice on how to approach value proposition depending on the stage of your business.
Some of the highlights of the show include:
● What does your company value? Point priorities in the right direction.
● Founders start a company because they want to make an impact, offer value, but own most of it.
● Equity Preservation for Startups: Avoid the trajectory of delusion after raising millions of dollars of capital.
○ Be skeptical of advice
○ Identify and address risks
○ Focus on what investors value
○ Understand value of minimum viable product (MVP)/lean startup concept
● StarFish uses a framework that addresses 12 functional areas to identify client’s target audience, IT environment, reimbursement strategy, and other factors.
● There’s plenty of horror stories about when things go bad. Also, it can be considered bad business when companies rush to get in human-type studies.
● Equity Preservation for Established Companies: Basically the same as startups, except the notion that future money is cheaper than current money doesn’t apply.
● Established companies tend to place more emphasis on regulatory processes, submissions, and clearances. StarFish helps startups fill gaps in such areas.
● Those in a product management role at a startup often have a tech background and don’t understand the role’s responsibilities.
Released:
Nov 7, 2019
Format:
Podcast episode
Titles in the series (100)
Dirty Devices and Reprocessing: Are New Design Change Rules On the Horizon?: As medical device developers, it is our responsibilities to make sure that our products are safe and effective. Unfortunately, the recent high profile cases of antibiotic-resistant superbugs spread by tainted endoscopes that have sicken many have call... by Global Medical Device Podcast powered by Greenlight Guru