MedTech + Mindset Newsletter #021

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.

1. Replay of our Webcast about Innovation Tax Credits

Many of you missed our conversation with Matt Dieter of Recoupe Tax Credit Experts. Matt and his team help companies involved in innovation reclaim money from the government -State and Federal - to increase their runway.

Here's the deal...Matt Dieter says people think this doesn't apply to them.  But more often than not, they are missing a big opportunity.

If you are involved in product development, product modifications, research and development, software development, prototyping, laboratory buildouts, pilot studies, or clinical studies - you're doing innovation and should talk to Recoupe.

Click here or the image below to watch the replay.  It's 20 minutes of powerful, runway extending information.

2. Key Performance Indicators Amplify Success

Insight from Alex Kunz

This is the final installment of the KPI series.

 A refresher before we dive in. An effective KPI is an important indicator of success to help you manage your business or key initiatives. However, not all insights/indicators are created equal.

Key Performance Indicators: Define success and are typically the data analyzed to determine how a product or solution performs.

• Performance Indicators: These are good to know; however, unlike KPIs, they do not define success. Performance indicators are great for identifying new opportunities or areas for improvement within a product or solution. Sometimes these indicators can become KPIs over the long term.
• Insights: I like to call these Useless Indicators. Please do not get distracted by these. Insights typically come from specific folks focusing only on their expertise, which is not directly related to the product or solution. In the world of big data, insights are the easiest to identify.

Now that you understand the differences within the datasets, let's go through the process. It is straightforward.

1. Brainstorm on all performance indicators and insights and keep to a max of 15.

When brainstorming all performance indicators and insights, consider the quintuple aim.  

2. Pick the top 10 most important. 

3.Establish the top 5 and rank from largest indicator to smallest indicator. 

4. Define and Refine. 

5. Establish Baseline.

After developing the KPIs, it is important to measure and track progress. Establish baselines today and monitor them over the defined period. Note that KPIs for three months may differ from those for 12 months. Think about data availability and the time it takes for things like behavior change.

 
Now you are ready to transform your business and healthcare using comprehensive and valuable data that will give you a greater chance of success!

If you would like to learn more, let’s connect at [email protected]. 

3. Medtech+Mindset Moment Update

Insight from Matt Tucker

I've taken a break from the Medtech+Mindset Moments for a couple weeks, but we're launching something new soon and will restart them next week.

This week's Medtech+Mindset Newsletter is brought to you the Ten Medtech Commandments Book available on Amazon in Kindle and Paperback. Click the banner below to learn more.

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