3.Do your due diligence when seeking external funding, there are many non-dilutive sources that can help bridge your company to institutional or strategic funding. Be aware of predatory accelerators. Make sure your incentives are aligned.

2.A model is a strategic tool that can help you make decisions based on defensible assumptions.

Here are a few of the lessons we learned from Kathleen: 1.Having a team with diverse background and experience can help you overcome the unknown unknowns

For our fourth episode we had a great conversation with @KathleenMcGing the Chief Business Officer of @GoFlowMedical about non-dilutive capital, modeling, and commercializing innovation in the medical device space. Links to the full episode below. DecipherHealthTech.com

2.A model is a strategic tool that can help you make decisions based on defensible assumptions.

Here are a few of the lessons we learned from Kathleen: 1.Having a team with diverse background and experience can help you overcome the unknown unknowns

We are on the thing.

We have a lot more great insights from @operationdanish in our full episode available on your favorite platform. Apple: podcasts.apple.com/us/podcas… Google: podcasts.google.com/feed/aHR… Spotify: open.spotify.com/episode/5C7… Shownotes: decipherhealthtech.substack.…

3.Sometimes you don’t need to pivot your product to commercialize, you may need to pivot your customer. Hospitals and health systems are a big customer but they aren’t the only customers in the space. You may have the right product but you may be selling it to the wrong customer.

2. The ideal founding team should be able to build, network, and hustle. Even if you have the background to do everything on your own there is a value to having different work ethics, personalities, and skill sets.

Here’s a few of the lessons we learned from Danish: 1. The power of partnerships is not to be underestimated. Valuable partnerships can be pivotal in obtaining both investors and customers.

For our third episode we had an amazing conversation with @operationdanish CEO and Founder of @rezilienthealth about building a startup, commercialization, partnerships, and much more. Links to the full episode inn your favorite podcast platform below. DecipherHealthTech.com

Measuring ROI in healthtech is not straightforward but is critical. Every product should provide value that is clear, whether that’s in cost savings, improved efficiency, better outcomes, or in aligning with larger healthcare goals. #ValueInHealthcare

In conclusion, demonstrating ROI in healthtech involves showing both tangible and intangible returns. It’s about balancing financial metrics with the real end goal: better health outcomes. #healthcareROI

Regulatory compliance and security are also contributors to ROI. Demonstrating that your product upholds HIPAA or GDPR standards, for example, can reduce potential fines and bolster trust in your solution. #HealthcareCompliance

Show impact on patient outcomes. Did your remote patient monitoring device decrease ER visits? Did your AI diagnostic tool improve early detection rates? Improved patient health is the ultimate return.

For quantifiable metrics, it’s about showcasing cost savings and efficiency gains. Did your telemedicine solution reduce no-show rates? Did your EHR improve documentation time? Concrete figures speak volumes. #DigitalHealth

When measuring ROI, align your product with key health system goals. Is it to reduce hospital admissions? Improve patient satisfaction? Speed up diagnostics? Articulate how your product helps achieve these targets. #valuebasedcare

What do we mean by ROI in healthcare? It’s not always solely about financial return. We consider improved patient outcomes, enhanced efficiency, reduced costs, and overall health system improvement.

One of the conversations we had with @MattSakumoto in our last episode was on the importance of demonstrating ROI for healthtech products. This can be critical yet challenging. In a sector where results take time to materialize, how do you prove value? Let’s dive into it below 👇🏽