Make Your Medical Product Ideas Come to Life: A Development Path

An embryo seems to miraculously mature through layers of development. Cellular differentiation, a forming spinal column, organ development, and more, are all necessary for a healthy, vital birth. Just as the developing fetus goes through a myriad of maturation steps, your medical innovation and your company must proceed methodically through multiple tasks. But this business procession is no miracle—it’s plain old work. I would say the adage, “plan your work, and work your plan” is invaluable advice—provided that your plan is well constructed.

Development tasks, and their associated timelines and costs make up the technology’s vital development or commercialization plan; without a commercialization plan, the maturing of your technology will likely stall. Do you have a grasp of the numerous tasks that must be undertaken to get your product to market launch? Truthfully, it can be time consuming and non-trivial process.

The plan is best developed, I believe, through a small team effort. Depending on the kind of innovation, the group could include the inventors, engineers (perhaps mechanical, electrical, and software), other clinicians, scientists, and individuals with prior development experience. But, because a commercialization plan should encompass, for example, technical development, human resources, financial, regulatory, and marketing tasks, your small team may require a range of competencies. For certain topics, like technical development, for example, you would be well-served to have your engineers present, rather than...

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