Business Model Innovation for Healthcare Innovations

Course Description & Learning Outcomes

The course aims to equip established healthcare innovators, including healthcare professionals, researchers, engineers and healthcare entrepreneurs, with knowledge relating to business planning and market access competencies under the Health and Medtech Innovation Skills and Competencies whitepaper. This course will provide you with a modular approach to develop the go-to-market model using the Business Model Canvas, Big Picture Framework and 4A-5P model to help innovation teams develop a preliminary business plan. By the end of the course, you will be able to assess the commercial feasibility of a health and medtech idea, develop a strategic and robust business plan and adopt a customer-centric mindset. Through didactic lessons coupled with various group hands-on activities, you will also be able to understand who the key stakeholders are in healthcare innovation and explore ways to create value for them to create go-to-market & commercial strategies. At the end of this course, you will be able to: - Construct and execute basic customer and market survey for concept or product validation and to articulate key value proposition - Analyze market positioning by conducting in-depth market landscaping (competitive landscape distribution channel, existing models) to develop a business plan with clear value proposition - Examine and articulate key stakeholders along the value chain and the jobs to be done - Prepare a preliminary market analysis (top-down and bottom up) - Apply understanding of healthcare value chain to elucidate identify the key stakeholders and factors influencing commercial viability of a product in target market (e.g., reimbursement infrastructures, key decision makers) and/or adoption into healthcare system - Articulate value proposition in relation to initial pricing and business model