Co-creation in MedTech and Healthcare, not if, but how...
Innovating the right product for the right audience is foundational to MedTech and Healthcare innovation, and tapping into the many voices of buyers (partners, distributors, clinics etc.) and users (physicians, patients etc.) early in the commercialization process is vital for success. Patients, physicians, nurses, administrators, etc. often offer hidden insights, inspire new ideas, bring innovators back to reality, and help position innovations for commercial success. They are the product developers, designers, and marketers of tomorrow.
Health innovators who want to win their markets must invite them to be active participants in the product innovation process. Health innovators who develop products with all stakeholders’ insights, expectations, and perceived value in mind can make more informed business decisions, better use organizational resources, significantly lower their risk of failure, and boost their chances for success.
Successful Innovation, especially in MedTech and Healthcare always see their customers and buyers as part of their Innovation process throughout the entire commercialization and product life cycle. So the big question is, how do you leverage all stakeholders' insights into an effective process that results in a breakthrough product? Stay tuned.