Transcript of "How to Commercialize Your Healthcare/IT/Media Product"
By Shahid N. Shah
CEO, Netspective Communications LLC
CEO, Netspective (http://www.netspective.com)
17+ years of entrepreneurship experience
10+ years of executive technology management experience as CTO,
Chief Architect, etc. in healthcare IT firms
Lead/Analyst/Consultant on numerous consulting projects in the past 9
years. Sample clients:
Executive Office of the President
U.S. Patent & Trademark Office (I train them and I have a patent)
American Red Cross
Read my blogs to learn more:
http://www.healthcareguy.com and http://www.hitshere.com (healthcare IT)
Healthcare folks are neither technically challenged nor
simple techno-phobes (they’re busy saving lives)
Most product decisions are no longer made by clinical
folks alone, CIOs are fully involved
Complex, full-featured, products are not easier to sell
than simple, stand alone tools that have the capability
of interoperating with other solutions are
Hospitals will not buy unless one proves value.
Selling into doctors offices is not easy.
Need vs. Want, Demand & Desire
Value - the benefits your customers gain
from using your product versus the cost of
obtaining your product or not buying at all.
Satisfaction - Based on a comparison of
performance vs. expectations.
Performance > Expectations => Satisfaction
Performance < Expectations => Dissatisfaction
• Past experience
The list goes
on and on…be
Many public/behavioral health products are
provided by the government or non-profits
Critical for your product to have a
discriminator (technology or innovation)
Price points generally have no relationship of
the cost to produce.
Competing with “do nothing” or “wait”
Competing with products that are provided
Shrinking resources (money) available for
Too much noise in the market place
Saturation of products in market place
Niche markets don’t support ROI for
Find the right search terms for your industry
or product. Don’t be esoteric.
Using your search terms, locate your competitors
and existing firms
Once you know your competitors, call them up
and ask them about client references
Call up their clients and talk to them about their
products and services and what can be improved
Software as a
Service (SaaS) and
(and open source)
Easy to explain
Defendable and differentiated
Attractive partnership opportunities
Word of mouth opportunity
Potential for PR
Scaleable staff and systems
Scaleable product — build once, sell many times
Sales model is scaleable and predictable
Own relationship with and information about customers
Research based products that are proven
Partnering and endorsement with accredited
institutions or associations.
Partnering with private sector (Pharma,
Managed Care, etc).
Establish realistic success criteria up front
Success may not be measured only in terms
Set up systems to track sales and distribution
in house or through distribution partners.