How to Avoid Pilot Purgatory in Healthcare Innovation w/Dr. Joseph Kvedar, VP of Connected Health with Partners HealthCare

The commercialization process in healthcare is very complex, and it’s impacted by a multitude of factors and circumstances. Why is commercialization so much harder in the healthcare industry? What are the biggest mistakes innovators are making, and how do these mistakes make growth impossible? What do we need to be mindful of when trying to get into a delivery network or hospital system?   On this episode, I’m joined by Dr. Joseph Kvedar, VP of Connected Health with Partners HealthCare. Dr. Kvedar is a pioneer, early adopter, and influencer in the field of connected health. We talk about overcoming the commercialization difficulties in healthcare that so many innovators face.   3 Things We Learned What makes it so challenging to commercialize an innovation in healthcare Why having the most advanced/superior innovation is meaningless How to successfully get into a delivery network or health hospital system   When healthcare innovations are still small, just starting to garner entry level interest, is when they are most vulnerable to facing issues that impede commercialization. Whether it’s losing a key team member, or encountering changes in the market, that randomness is inherent in bringing innovations to market. There are ways to mitigate this, however.   It’s critical to settle the “people issues” early on and understand your product-market fit. Raise only the right amount of money, and spend it thoughtfully. Line everything up to present the best business case possible.