MedTech + Mindset Newsletter #020

Welcome to the MedTech + Mindset Newsletter! 

We want to hear what you like and what you don't.  Please drop us a line with what we can do more of....and what we should discontinue.

If you don't find this valuable, feel free to unsubscribe.

If you like it, please encourage your friends to subscribe here.  

 
This week's Medtech+Mindset Newsletter is brought to you by the Medtech+Mindset Innovation Tax Credit Free Webcast

If you have a role at a company that develops new -- or improves -- existing devices, diagnostics, drugs, or digital health products or services.

We developed this Special Event with you in mind.

The Recoupe R&D + Innovation Tax Session on Wednesday, October 5th at 1pmET. 

Our friend and fellow serial entrepreneur, Matt Dieter, will walk you through a short self-assessment to determine if your company is eligible to potentially recoup hundreds of thousands of dollars in taxes. 

If that's you, it's potentially the most valuable 15 minutes you'll spend on your business next week.

We hope to see you there. 

 CLICK HERE TO REGISTER

1. Key Performance Indicators Amplify Success

Insight from Alex Kunz

To identify the strongest KPIs, you need to assess as many points of view as possible. This is the most essential aspect of developing KPIs.

The first stage of KPI Development is through developing a stakeholder map.

• Identify all the stakeholders impacted by the product or solution
•  Assess each stakeholder’s key concerns
• What is their perspective on a new product or solution?
•  When should each stakeholder be engaged?

The most common mistake during this process is moving too fast, making quick assumptions, and becoming too hyper-focused on specific individuals.

 Make sure to avoid: 

• Hyper-focusing on a specific individual 
• Looking at the stakeholder map from a narrow perspective
• Focus on small details at the expense of practicality 

Make sure you consider:

• Take time to assess stakeholders and stakeholder groups
• Ask questions and collaborate with a multidisciplinary team
• Create “I am” and “I want” statements for each stakeholder
• Consider using techniques like human-centered design to dig into the real needs of a population.

While this part of the process takes the longest, it's critical.  It's worth it.  Once you have developed a stakeholder map and assessed each perspective, you can start identifying the indicators that could be of interest to your product or solution.

2. Medtech+Mindset Moment Recap

Insight from Matt Tucker

Below are the most recent Medtech+Mindset Moments ranked in order of views. If you missed any of them, hop in and take a look!

When you're a subject matter expert, but become a leader of others - 661

How I make sure sales people I hire will rock it - 465

There's a light side and a dark side to every personality - 393

Putting a problem into perspective - 350

3. An interview with a M+M Community Member - Craig Tucker

Who are you and what do you do?

VERN Health provides real time analysis of emotions in communications for use in telehealth, and mental and behavioral healthcare. This platform provides mental health assessment tools that aid the care provider to screen, assess, introduce treatment, and track its effectiveness across time.

What’s the most exciting thing you have been working on lately and why?

We have been working on our real time emotion analysis tool for telehealth. Providers will be able to see the emotions that patients are presenting- in real time-on screen as the conversation is taking place. We have had successful pilots with our Sessions application which analyzes the answers in a counseling session and are excited to develop this product based on the demand.

What’s been the most challenging thing you’ve been faced with recently and why? 

Zoom keeping features and functions away from developers, saying it's on their roadmap but they have no timeline. Otherwise, we'd have had the telehealth product done in March. 

How did you overcome it, or what are you doing now to try to overcome it?

We've been working with partners who do have the functions and developing the telehealth app on Microsoft's platform, and others. 

What win or accomplishment have you been most proud of in the last 6 months?

VERN Health has been successfully pilot tested with real patients in a therapy session. This has allowed providers to discover insights that they previously would have missed; and have helped them craft care plans to address the issues that previously were not apparent. We're actively seeking pilot partners to help save even more lives. As soon as we can, we will have the telehealth application launched. 

 Note:  Matt Tucker and Craig Tucker are not related.  If you'd like to be connected to Craig reply back to this message and we'll do an introduction.

What did you think of this week's newsletter?

Loved it I Great I Good I Just OK I Bad

If you enjoyed this, please consider sharing it with a friend, or recommending us on your social page.

 Are you following us on LinkedIn? If not, you can do that here for more updates, insights, and opportunities.

 If a friend sent you this, get the next newsletter by signing up here.

Who is MedTech + Mindset? We’re committed to providing the best information, strategies, and tactics to advance your product and career. We ignore the pablum, listicles and clickbait and only share high-quality, vetted, and actionable commercialization content.

That's it for this week.

 — Your Friends at the M+M Team.

 
MedTech + Mindset is part of the CreateNext Group, which also publishes