Arlen Meyers, MD, MBA is a professor emeritus of otolaryngology, dentistry, and engineering at the University of Colorado School of Medicine and the Colorado School of Public Health and President and CEO of the Society of Physician Entrepreneurs at www.sopenet.org. He has created several medical device and digital health companies. His primary research centers around biomedical and health innovation and entrepreneurship and life science technology commercialization. He consults for and speaks to companies, governments, colleges and universities around the world who need his expertise and contacts in the areas of bio entrepreneurship, bioscience, healthcare, healthcare IT, medical tourism -- nationally and internationally, new product development, product design, and financing new ventures. He is a former Harvard-Macy fellow and In 2010, he completed a Fulbright at Kings Business, the commercialization office of technology transfer at Kings College in London. He recently published "Building the Case for Biotechnology." "Optical Detection of Cancer", and " The Life Science Innovation Roadmap". He is also an associate editor of the Journal of Commercial Biotechnology and Technology Transfer and Entrepreneurship and Editor-in-Chief of Medscape. In addition, He is a faculty member at the University of Colorado Denver Graduate School where he teaches Biomedical Entrepreneurship and is an iCorps participant, trainer and industry mentor. He is the Chief Medical Officer at www.bridgehealth.com and www.cliexa.com and Chairman of the Board at GlobalMindED at www.globalminded.org, a non-profit at risk student success network. He is honored to be named by Modern Healthcare as one of the 50 Most Influential Physician Executives of 2011 and nominated in 2012 and Best Doctors 2013.
Sick care innovators, be they scientists, engineers or health professionals, typically 1) focus on a solution instead of a problem , and, 2) fall short when it comes to selling and marketing their product, service or process improvement. Those are two of many reasons why their innovation initiative, whether it is internal (intrapreneurship) or external (entrepreneurship) will fail.
I recently found myself in a room filled with in house healthcare lawyers. I was the only doc, let alone physician entrepreneur, there.
There are many reasons why your startup will fail, but the main ones are 1) you create a product or service no one wants to buy, and 2) you do not have a profitable and VAST business model.
Remember when you were 18 and everyone kept asking about what you're going to do next? At the other end of the spectrum was the mid-life crisis and all those raised eyebrows when you drove up in the Maserati with that person on your arm or you are showing your BFFs your new sleeve tat.
The transformation of sick care to health care continues its relentless march. The forces of innovation are not unique to the industry, but, rather pervasive in all industries.
BBN Times connects decision makers to you. Experts in their fields, worth listening to, are the ones who write our articles. We believe these are the real commentators of the future. We quickly and accurately deliver serious information around the world. BBN Times provides its readers human expertise to find trusted answers by providing a platform and a voice to anyone willing to know more about the latest trends. Stay tuned, the revolution has begun.
Copyright © BBN TIMES. All rights reserved.