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Early Stage Medtech Assessment

Use this assessment to determine your status and uncover knowledge gaps about the key initiatives to build your company in a successful and sustainable way.

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Question 1 of 15

Why is creating a brand identity crucial for a MedTech product? 

A

To ensure the product is only used by experts

B

To differentiate the product in the marketplace and establish its value proposition

C

To ensure great logos and messages

D

To expand the product’s availability

Question 2 of 15

What is the importance of developing a focused scalable strategy for a MedTech product? 

A

To decrease the complexity of operations

B

To capture the opportunity that exists in as many markets as possible

C

To increase launch speed

D

To achieve short-term gains

Question 3 of 15

How can enabling and incentivizing the sales team impact the launch of a MedTech product? 

A

It can increase the product’s visibility in the market

B

It ensures the sales team is aligned to the companies most important goals

C

It is irrelevant to the product’s success

D

It attracts high performing sales reps

Question 4 of 15

What is the most important byproduct of being a trusted partner in the treatment of diseases and conditions play in the success of a MedTech product? 

A

It gives the company access to consultants you’d never get access to

B

What’s being a trusted partner mean?

C

It highlights the product’s application in clinical settings

D

It enhances customer trust and strengthens relationships with healthcare professionals

Question 5 of 15

What should a MedTech commercial exec or CEO focus on to ensure the product meets market needs? 

A

Customizing the commercialization process to the business opportunity

B

Copying competitor strategies

C

Developing a game changing product

D

Focus primarily on getting FDA approval before anything else

Question 6 of 15

Which of the following is NOT a benefit of engaging medical opinion leaders early in the development process? 

A

Speeding up the approval process

B

Refining medical and marketing messages

C

Increasing the likelihood of approval

D

Raising awareness about under diagnosed conditions

Question 7 of 15

How can a promotional evidence generation plan most benefit a new MedTech product? 

A

By focusing solely on traditional advertising methods

B

By highlighting the need for clinical data

C

By ensuring data is placed into only high-impact journals

D

By generating long-term confidence through a totality of evidence

Question 8 of 15

In the context of MedTech commercialization, why is it critical to prepare for medical policy and product committee evaluations? 

A

To ensure the product works

B

To secure clinician endorsements

C

To facilitate product adoption by demonstrating value and understanding customer challenges

D

To design the product packaging

Question 9 of 15

Why is it important to create an educational ecosystem around a MedTech product? 

A

To enhance understanding and trust among users, ultimately improving adoption rates

B

To increase product price

C

=To enable and support the sales team if they aren’t that good

D

To ensure regulatory compliance

Question 10 of 15

What percentage of devices fail to reach the market according to publicly available data? 

A

90

B

75

C

60

D

50

Question 11 of 15

Which of the following is NOT typically a reason for device launch failure? 

A

Insufficient marketing budget

B

Inadequate clinical utility

C

Lack of customer insights

D

Poor coordination between marketing and sales

Question 12 of 15

What is the most critical reason to get customer insights early in the product development process? 

A

To ensure product design meets customer needs

B

To reduce marketing messaging mistakes

C

To identify potential customers

D

To prepare for FDA approval

Question 13 of 15

What is the most important kind of additional information critical for reliable customer confidence in addition to randomized controlled trials? 

A

Clinician anecdotes

B

Marketing collateral and materials

C

Review articles and case series

D

Patient testimonials

Question 14 of 15

What is a common mistake in utilizing medical opinion leaders? 

A

Paying them too much

B

Not categorizing them based on their strengths

C

Using them for product design

D

Ignoring their advice

Question 15 of 15

What is the role of clinical utility in the commercial success of a MedTech product? 

A

It helps the product sell itself

B

It is the primary driver of product adoption and success

C

It’s how you know what marketing messages to use

D

It only matters for FDA approval

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