MedTech + Mindset Newsletter #033

Welcome to the MedTech + Mindset Newsletter!

I've been thinking about the JPM Healthcare conference, what I learned, and my experience there.

1. How do I build the most a foundation for adoption and revenue in a sustainable way?

Insight from Matt Tucker 

The use of medical devices by clinicians usually plays out as a bell curve pattern, with a small percentage of clinicians at either end of the curve being the most likely to use the device either rarely or frequently, while the majority of clinicians fall somewhere in the middle of the curve and use the device situationally. 

There can be several reasons why the use of a medical device may follow this pattern. One reason is that some clinicians may not have a need for the device in their practice, leading them to use it rarely or not at all. For example, a clinician who specializes in pediatric care may not have a need for a device that is primarily used in geriatric care. 

On the other hand, some clinicians may have a high need for a particular device and use it as often as possible. For example, a clinician who works in a busy emergency department may use a device that is designed to quickly and accurately diagnose a particular condition much more frequently than a clinician in a primary care setting. 

For the majority of clinicians who fall in the middle of the curve, the use of the device will be situational. These clinicians may use the device when it is appropriate for a particular patient or when it can help them to more effectively diagnose or treat a condition. For example, a clinician may use a device that is designed to measure blood pressure more frequently with patients who have a history of hypertension, but use it less frequently with patients who have normal blood pressure. 

Overall, the bell curve of device usage reflects the diverse needs and practices of clinicians, with some having a high need for a particular device and using it frequently, while others may have a lower need and use it less often or not at all. 

So what should you do?

To maximize stability in your business, focus your efforts on moving experimenters who are using very rarely to become convinced situational users.  

Experimenters, who use rarely, won't exist for long.  You either capture them quickly and turn them into believers, or they will abandon the device entirely and fall out of your opportunity set.

2. Some interesting avatars to consider if you're building your brand.

Insight from Matt Tucker 

When you're trying to build your brand from the ground up, it's good to consider thinking of your product and brand as an avatar. I've pulled together just a few that you could consider. Not all of them work perfectly for medical devices or health care products but it's good to consider all the options and see the different perspectives.

1. The Explorer: This brand avatar is adventurous and seeks out new experiences. They are curious and independent, and often prioritize functionality and durability in the products they use.
2. The Creator: This brand avatar is artistic and innovative, with a focus on self-expression and uniqueness. They value high-quality, customizable products that allow them to showcase their individual style.
3. The Caregiver: This brand avatar is empathetic and nurturing, with a focus on making a positive impact on the world. They value products that are environmentally friendly and socially responsible.
4. The Innovator: This brand avatar is forward-thinking and always looking for the next big thing. They value products that are cutting-edge and offer a high-tech experience.
5. The Classicist: This brand avatar values tradition, stability, and reliability. They seek out products that have a timeless quality and a reputation for being well-made.
6. The Status Seeker: This brand avatar values exclusivity and status. They seek out luxury products that convey a sense of success and refinement.
7. The Fun Seeker: This brand avatar values playfulness and a sense of fun. They seek out products that are lighthearted and bring joy to their lives.
8. The Naturalist: This brand avatar values a connection with nature and a healthy lifestyle. They seek out products that are organic, natural, and sustainably made.
9. The Traditionalist: This brand avatar values a sense of community and tradition. They seek out products that have a connection to their heritage and cultural values.
10. The Minimalist: This brand avatar values simplicity and functionality. They seek out products that are sleek, uncluttered, and have a no-nonsense design.

CreateNext is officially launched and a number of action oriented high performers have taken the leap to design their future, take control, and create what's next for them!

If you're trading your happiness and freedom for a professional life that is making you frustrated or bitter...there's a better option.

We work with high performers who are motivated to increase compensation or revenue and eliminate compromising your happiness, freedom, or health.

Hear my story for more!

Thanks, Matt Tucker 

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That's it for this week.

 — Your Friends at the M+M Team.

 
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