Originally Published MX March/April 2003
BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT
What Every Device Industry Executive Must Remember|
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Keeping constantly in mind these six basic circumstances will enable company leaders to sidestep most of the obstacles to a successful product launch.
- Progress toward entry into a regulated market is faster when small steps are taken.
- The device customer is not the recipient of benefits from its use.
- Medicine is a profit-seeking business.
- No medical technology is marketable without government approval and third-party reimbursement.
- Adoption of a new medical device is driven by medical practitioners.
- Well-connected sales and distribution organizations are ready-made marketing tools.
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