#32 – The New Business Model in Orthopedics (10 mins)

Software is changing Orthopedics forever. Believe it or not, in the near future, many Orthopedic companies will discount oreven give away “medical devices”, in exchange for the data.

TODAY most orthopedic companies will say that they “sell implants, disposables and capital equipment… and, by the way, we provide software for the surgery or tracking clinical results or steps.” The software is a free service provided to sell more implants.

TOMORROW most orthopedic companies will say that they “sell data captured by software…. and, by the way, we provide implants, disposables and capital equipment.” The implants are provided to get the data. It’s flipped.

Follow me through this thought experiment.

Then tell me what company will be first to leverage the new software profit model in Orthopedics. [ tiger@tigerbuford.com ]

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#31 – Anatomy of a Startup – Q&A with Mark Foster, CEO @ Trice Medical (42 mins)

Mark provides insight into how a disruptive little startup, called Trice Medical, has created a brand new category in orthopedics and how they are executing today.Please excuse the cell phone skips during our conversation. Youwill be glad that you listened. Enjoy.

Mark Foster on LinkedIn – https://www.linkedin.com/in/mark-foster-meddevice/

Trice Medical website – https://tricemedical.com/

Trice Medical was founded to fundamentally improve orthopedic diagnostics for the patient, physician, and payer by providing instant, eyes-on, answers. Trice has pioneered fully integrated camera-enabled needle technologies that provide a clinical solution that is optimized for the physician’s office. Trice’s mission is to provide more immediate and definitive patient care, eliminating the false reads associated with current indirect modalities and significantly reduce the overall cost to the healthcare system.

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#30 – Sacred Cows in Orthopedics (8 mins)

A“Sacred Cow”isa firmly held belief that is rarely questioned. The big orthos are not immune to Sacred Cows because of their defensive mindsets driven by a short-term finance goals. I share 7 Sacred Cows that I see in Orthopedics today.

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#29 – The Founder Effect in Orthopedic Startups (12 mins)

An analysis of how the background of the Founder creates strengths/weaknesses for the startup business in the early years. The Founder’s strengths help to create the Founder’s blind spots. I dissect 7 Founder types by strengths/weaknesses and offer advice on early moves to compensate for weaknesses.

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#28 – The End of Big Ortho Dominance (6 mins)

I will share the one blindspot that the Big Orthos have that could bring them down in the future. Time will tell if this Achilles Heal will kill them, or if they adapt.

Subscribe:https://www.tigerbuford.com/newsletter/

Connect: https://www.linkedin.com/in/tigerbuford

Read: https://tigerbuford.com

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#27 – How can Orthopedic device companies leverage digital marketing (58 mins)

This is a deep dive into how Orthopedic Companies can leverage Digital Media using new strategies and techniques.

Lisa Denison and I cover these questions and more:

• How do Orthopedics companies use digital marketing today?
• How should Orthopedics companies use digital marketing?
• Which social media platforms are the best for reaching surgeons and patients?
• Walk me through some real example with details, timings, costs etc
• What are the metrics of digital media versus traditionalorthopedic marketing? For instance, how does a company do a targeted FB ad? Walk us the through the mechanics.
• Talk about the cycle of experimenting, AB testing and how to make changes on the fly.
• What are the laws regarding promoting to an individual doctor’s practice?… and how do conservative orthopedic companies and progressive orthopedic company play this?
• When should a small orthopedic company outsource their digital media and when should they insource it?

Lisa Denison can be contacted here – mdtr.denison@gmail.com

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