The introduction of healthcare innovations is complicated by numerous stakeholders, fierce regulations, long time-to-market, and enormous upfront investments.
Pharma, biotech, and medtech industries have an extremely high attrition rate, and standard business strategies are typically not enough. Smarter strategies are needed that comprehensively target all the challenges, bring together R&D and funding milestones and leverage key market trends and developments.
Our methods for developing businesses rely on the Lean Startup principles. It provides a framework for driving a business (how to steer, when to turn, and when to persevere) to maximum acceleration. It entails short iterations cycle, early interaction with end users and payers, and innovation accounting which together minimises resources wasted on the development of unneeded innovation. With the Business Model Canvas, we integrate partners, activities, resources, customer relationships, customer segments, infrastructure, value proposition, cost structure and revenue streams.
We value the strategic relation we build with the executive teams of our clients. Together, we continuously grow and refine the business strategy in every stage of the company.
Market viability analysis or business case
Our business cases enable you to make an informed decision on how to proceed with the company and/or a specific project. Carefully considering all the costs and benefits ensures pragmatic development and decision-making processes. These insights could also offer you a context to make decisions between different strategic scenarios and with whom to collaborate.
Business models describe how to create and capture value. A smart business model is needed to tailor your revenue streams and value proposition(s) to a specific target group, to define your value chain and to assess profitability. Many healthcare segments (e.g. rare diseases, antibiotics) and emerging technologies (e.g. AI-driven diagnostics) do not have viable business models at first sight. But our creativity and encompassing approach has proven to provide exciting new avenues.
Our business plans make sure that every step in reaching your goals is accounted for, that all employees are able to focus and work towards these goals and to be able to redirect if there is a deviation from this path. Therefore, a business plan is required for many investors and several EU grants. A convincing plan will attract funding and/or investors to your ideas.
How do we help?
We value co-creation. For each business plan, business model or market viability analysis, we assess your specific need and assess the available information. Based on this we can determine the additional required information to develop a clear and actionable deliverable. Making use of our canvas, the Lean Startup methodology, FFWD-model and problem solving strategies, we can challenge your ideas like a funding agency and/or investor would and ultimately blow their minds.
“My main approach is to try to understand our clients’ needs and their perspective, work closely together to address some of their pain points, while always having our common goal in our mind: how to bring these breakthrough innovations closer to the society.”
– ANDREA SLOT, MSC – CONSULTANT AT TTOPSTART