“The formula for creating value in health is quite complex. Healthcare professionals can solve this formula and make start-ups resilient to possible failures by providing the right value proposition and guidance.”
Customer-centricity is one of the few key elements to survival for entrepreneurs entering the challenging world of healthcare (1). While there are several strategies to achieve this design-focused perspective, the surest and shortest path for start-ups is for companies to employ healthcare professionals.
Nowadays, there is an increasing interest in artificial intelligence technologies. Doctors, who are quite open to technological innovations – in their private lives – also want to enter this field in some way (2). However, in reality, very few start-ups have a medical doctor on their leadership team. However, such an application can be of vital importance in reducing investment risks for startups. Because doctors can offer the right value proposition for the products and services in question, they can guide the product when necessary because they have a detailed understanding of the patient and clinician’s health journey (3). However, in order for doctors to perform these functions effectively, they are expected to have actually worked or have been working in health care for a long time, to be at least familiar with the concepts and methods of business science, and optimally to have formal education in this field. In the absence of specified advice and guidance, the risk of investing in the market increases significantly. Seven out of every eight businesses entering the health sector fail to achieve the value they deserve and the expected impact because they do not receive the specified type of support and develop their products independently of and disconnected from health providers.
(1) Although customer is a very broad concept in the healthcare industry, it is primarily used here to mean internal patient (external) and healthcare professionals (internal) customers.
(2) This curiosity may not always be put into practice in the professional practice of doctors. See Part III: “Is disruptive innovation possible in healthcare?
(3) The same thesis can also be put forward partly on the basis of other healthcare personnel.
