Health/Healthcare

Advice to a Young Physician Entrepreneur

I’m often asked about how to pursue a physician entrepreneurial career pathway. Like Peter Medawar opined almost 35 years ago in his “Advice to a Young Scientist”, allow me to offer some advice : 1. You will not learn about innovation or entrepreneurship in medical school or residency. Medical education is designed to teach students clinical care and research methods. If ...

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The 4 V’s – How to Win at Health Innovation

Back in the day, during the Vietnam era, the suggested credo was “Declare victory and go home”.  Some sick care entrepreneurs have taken a similar approach by hyping digital health and process solutions that will create “Uberized, disruptive, cutting edge” change. Most are too early and wrong in declaring victory. For sick care innovation to be truly transformative, innovators need to demonstrate 4 main things : ...

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10 Reasons Why Digital Health Startups Fail

Startups, in general, fail for many reasons. One observer mentioned his top 5 reasons as 1) lack of capital, 2) expanding too soon, 3) heavy reliance on debt, 4) poor strategy, and 5) poor business model and plan. Ultimately, there are two basic reasons: 1)They make stuff no one wants to buy, and 2)they have a business model that is not valid ...

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Business People Are Lousy Doctors

So doctors are lousy business people, huh? Well, imagine if your doctor prescribed something based only on your chief complaint. They did not take a history. They did no physical exam and they did no lab tests or imaging if it were necessary . Yet, business people, particularly digipreneurs, do it all the time. If you think about it, entrepreneurs are continual ...

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Why Sickcare Innovation Centers Don’t Deliver

If you work for a big, established company, you’ve probably been noticing the sudden rise of a new trend: the innovation lab. Companies as diverse as Delta Air Lines, Target, Google, Pfizer, Marriott, Autodesk, Fidelity Investments, Ford, Verizon, and Stanley Black & Decker are jumping on the bandwagon. As discussed on this site recently, open innovation labs like this bring The Garage Experience inside ...

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A Patient’s Perspective on Healthcare Innovation

The Healthcare Innovation Amazon and Apple Should Focus On It is no secret that Amazon has a secret artificial intelligence healthcare project called 1492. Amazon is making several strategic moves into the healthcare vertical, including hiring machine learning experts, investing in healthcare startups, and sponsoring hackathon-type innovation challenges with six-digit prizes for killer apps that can leverage Alexa, Amazon’s voice-recognition ...

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MIT Shows How To Run Hackathons

I’ve always had mixed feelings towards hackathons, as whilst they undoubtedly bring a lot of focused energy, they often lack any real follow-up, rendering the progress made during the weekend rather isolated. A recent paper in Cell Systems highlights how the MIT Hacking Medicine events do better.  The events, which are open to all, but are especially popular with younger ...

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