Medical Device Success
The Medical Device Success Podcast and Videocast is a combination of interviews with Subject Matter Experts (SMEs) and MedTech leaders along with some solo podcasts aimed at improving the ability of the audience to better understand and compete in today’s rapidly changing healthcare ecosystem. We seek out SMEs in areas that can assist MedTech companies in:
• Marketing strategies, tactics and technologies
• Sales strategies, tactics and technologies
• The future of MedTech – technology trends and implementation
• Health research & economics
• Provider issues (hospital systems, ambulatory surgical care, etc.)
In our “In the C-Suite” series we like to get leadership perspectives from MedTech leaders.
Episode 76 – Intro to Value-Based Care Part 2 with Barbara Strain
What can MedTech companies do to be constructive, profitable and value-added participants in the shift to Value-Based Care? The big companies are all over this. They have entire departments devoted to being ahead of this curve. What about the small and medium sized companies? Today we dig into that. This episode is “Intro to Value-Based Care Part 2”. Once again, our guest to finish this introduction is Barbara Strain, Founder and principal of Barbara Strain Consulting. Prior to her move into consulting, Barbara was on the provider side of the healthcare equation as Director of Supply Chain Analytics and later Director of Value Management at the Univ. of Virginia Health System. She is also a founding member of AHVAP, the Association of Healthcare Value Analysis Professionals. Needless to say, she knows what she is talking about. In the last episode, we covered the history of value based care including discussion of various government cost containment measures that are currently in place. Now we dig further into the trend towards Value-Based Care and what MedTech companies can do to consider this trend in their product development, marketing and sales efforts.
I want to give another warm welcome to new members of the MedTech Leaders community. Barbara is a member and can be reached within the community. For more information on this community, go to medtechleaders.net.
I want to thank all of you for your support throughout 2021. The podcast audience has continued to grow. And, we have maintained our Feedspot ranking of the 2nd most popular medical device podcast. Not bad when you consider this is a home produced program without the backing of a media company or commercial enterprise. The best support you can give me is to share this podcast with a colleague using the share link on your preferred podcast platform. Again, thank you.
Now Go Win Your Week!!
Barbara Strain’s LinkedIn Profile link
Barbara’s website link
“Building New Pathways” Whitepaper link
Ted Newill’s LinkedIn Profile link
More Medical Device Success podcasts link
Medical Device Success website link
MedTech Leaders Community link
Episode 75 Intro to Value-Based Care Part 1 with Barbara Strain
Understanding this important subject is part of knowing your customer. Here is a factoid from today’s conversation, the sickest 5% of the US population consumes 50% of healthcare resources. One of many reasons fee for service is not sustainable and that the move to value-based care is gaining momentum. Today’s episode is the first of several episodes on Value-Based Care. I am calling it “Intro to Value-Based Care Part 1”. Our guest for both part 1 and part 2 is Barbara Strain, Principal of Barbara Strain consulting. Prior to her recent move into consulting, Barbara was the Director of Supply Chain Analytics and later Director of Value Management at the Univ. of Virginia Health System. She is also a founding member of AHVAP, the Association of Healthcare Value Analysis Professionals. So, she has lived the history of DRGs, Bundles and Value-Based Care. Barbara is going to give us a foundation in the subject so we will be better prepared for guest speakers from a hospital system, a physician practice and from industry.
Before I get to today’s episode, I want to share what the podcast content will look like over the first half of the year. We (when I say we, I mean you and me)…We will be exploring 3 big themes. These themes are Value-Based Care, Artificial Intelligence and Robotics. I really believe these three areas will have a major impact on healthcare and MedTech going forward. I have been working hard rounding up guest experts in these areas. If you know someone I should consider as a guest speaker, let me know. I am serious. Use the contact link in the show notes or message me via LinkedIn or the MedTech Leaders community. Of course, there will be some other subject matter experts and “In the C-Suite” guests mixed in. And, due to the difficulties scheduling guests, the themes will be mixed up in order of publication. So, one week you may get value-based care and the next week artificial intelligence followed by robotics.
By the way, Barbara is a member of the MedTech leaders’ community. A place for MedTech leaders and sales and marketing professionals to help each other out, learn from each other and subject matter experts. Several people joined last week. A warm welcome to all of you. You can learn more at medtechleaders net. There is a free trial and the cost is equal to about 3 or 4 cups of artisanal coffee depending how big the cup is you drink.
Now Go Win Your Week!!
Barbara Strain’s LinkedIn Profile link
Barbara’s website link
“Building New Pathways” Whitepaper link
Ted Newill’s LinkedIn Profile link
More Medical Device Success podcasts link
Medical Device Success website link
MedTech Leaders Community link
Link to Ted’s contact page
Episode 74 – Knowledge is Power in MedTech – A system for knowing your customer, market and industry
Let’s get the new year off to a good start and know our customer, market and industry better than your colleagues and competition. Let’s create a knowledge gathering system for you. It will pay off in terms of your professionalism, your results and your career! Early in my career I just took what the company told me as the gospel about what was going on in the medical specialties I was selling to and the industry I participated in. Granted waaay back then…the multitude of knowledge access points that exist today did not exist (YouTube, eNewsletters, News aggregators, Webinars, Facebook, Twitter, Specialized websites, etc.). With all these access points there is really no excuse not to know what is going on in your market and to know your customer.
In today’s podcast and video cast I will share my approach to this. No doubt, after you listen or view this episode, you will have good ideas to add. Please let me know and I will mention them in the next podcast.
We will review:
- Four categories of knowledge you should be investigating every week.
- Four methods to stay up to date.
- Examples of how to put these methods to action.
When you are done listening and or viewing, you will have a very clear idea of how to set up your knowledge gathering system and you will be better for it.
Finally, a warm welcome to several new MedTech Leaders community members that joined in December!! Medtechleaders.net
Now Go Win Your Week!!
Links to mentions in the podcast:
Becker Healthcare and Hospital Review https://www.beckershospitalreview.com
Healio – https://www.healio.com
JAMA Network – https://jamanetwork.com
MASS Device – https://www.massdevice.com
Feedspot top 20 Medical Device Podcasts – https://blog.feedspot.com/medical_device_podcasts/
State of Demand Gen Podcast – https://www.refinelabs.com/podcast
Ted Newill’s LinkedIn Profile link
More Medical Device Success podcasts link
Medical Device Success website link
MedTech Leaders Community link
Link to Ted’s contact page
Episode 73 – Strategic Planning Part 2 for Companies and Individuals – Strategies and Tactics
“Employees at three out of every five companies rated their organization weak at execution…” This was one result of a Harvard assessment of employees from more than 1,000 companies, governments and non for profits. The Harvard assessment resulted in the 17 traits of organizational effectiveness where the number one trait was “Everyone has a good idea of the decisions and actions for which he or she is responsible”. This can be achieved when there is a plan with clear strategies and supporting tactics. It is at the tactical level that people find their accountability. Teams love accountability especially when they see how it supports a plan. It is even more effective when employees take part in creating the strategic plan and own it. Part 2 of our 2-part series on strategic planning focuses on the strategies and tactics that achieve the company’s or function’s key goals and objectives. Time is also spent in terms of personal strategies and tactics.
If you are new to the podcast and are thinking “Hey! Where do I find Part 1?“ Not to worry! Part 1 was Ep 71. You can find it in the podcast list at the Medical Device Success website. Use the podcast pulldown menu to find it.
Members of the MedTech Leaders community will find a copy of the slides in the Strategic and Tactical Planning topic area along with the podcast and video cast. You can learn more about the MedTech Leaders community at medtechleaders.net. It costs the equivalent of four cups of good coffee annually. And, there is a free trial.
Get Organized to Win 2022!
Ted Newill’s LinkedIn Profile link
More Medical Device Success podcasts link
Medical Device Success website link
MedTech Leaders Community link
Link to Ted’s contact page
Episode 72 – Career Success in MedTech Startups with Jim Surek, VP Sales, ExplORer Surgical
“You told me the opposite of what I have been told by everyone else about how they would attack this market.” Said one CEO to Jim during an interview. Jim got the job and helped lead this company to success. During his stellar career, Jim has been part of 7 startups. We cover a lot of ground that will have pearls of wisdom for all listeners whether you are in the C-Suite or in marketing and sales. Lots of great career advice as well. We set the foundation with Jim’s current role at Explorer Surgical where he is heading up sales in a MedTech SAAS technology. Some of you may want to implement this technology once you understand how powerful it is. This technology can really help companies with unique surgical products scale more rapidly with improved consistent outcomes. Then we move into his deliberate process for deciding whether to join a startup organization. During all of this we delve into the strategic and tactical power of startups as learning organizations.
I would like to welcome the new members of the Medtech Leaders community. They joined to get access to the Part One Strategic Plan slides that I posted with the podcast in the Strategic and Tactical planning Topic area in the community. And I was about to forget to mention that today’s guest, Jim Surek is a member of the MedTech Leaders community. You can learn more about the community at medtechleaders.net. The annual fee costs a few cups of coffee. And, there is a free trial.
During the podcast Jim credits several people with contributing to his career including Patrick Pilcher, Ron Pickard, Jeff Greiner, Paul LaViolette, Jennifer Fried and more.
Now Go Win Your Week!!
Jim Surek’s LinkedIn link
ExplORer Surgical website link
GHX website link
Ted Newill’s LinkedIn Profile link
More Medical Device Success podcasts link
Medical Device Success website link
MedTech Leaders Community link
Link to Ted’s contact page
Episode 71 Strategic Planning Part 1 for Companies and Individuals
Only 23% of companies follow a formal strategic planning process. Companies with strategic plans are 12% more profitable. The big MedTech companies are in the final phases of the 2022 strategic plans. What about the small to medium sized companies? What about you as an individual? Imagine how much more productive and profitable you might be with your own personal plan. This is part 1 of a 2 part series to offer some guidance on creating a strategic plan whether it is for a company, a function and/or you as an individual. Today we will cover Assumptions, the SWOT analysis, Opportunities and Gaps and finally Key Goals and Objectives. In part 2, I will cover strategies and tactics and executing the plan. This is important because only 13% of companies successfully execute their annual plan.
I will be using slides. For podcast listeners, I will try to clearly explain my progress through the slides. There is a way you can get copies of the slides. You have heard me talk about the MedTech Leaders community. This is where Medtech professionals get together to help each other out with best practices, problems, solutions and ideas. You can learn more at medtechleaders.net. Members of the MTL community can request a free copy of the slides. There is a very low annual fee and there is a free trial. It costs less than 4 Starbuck’s coffees. Why charge anything you ask? To keep the spammers out and cover basic community costs. I guarantee you I am not making money from the community. It is more of a passion project than a profit project at this point.
Now Go Win Your Week!
Ted Newill’s LinkedIn Profile link
More Medical Device Success podcasts link
Medical Device Success website link
MedTech Leaders Community link
Link to Ted’s contact page
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