Date(s) - 03/14/2016
Innovation Competency and the Path to Successful Commercialization
In order to maintain a vibrant pipeline of products that provide value to the health care community, as well as the commercializing business, the historic paradigm for product development must change. External environmental factors, including the reimbursement landscape, the identity of the customer, and the expectations of patients and third party payers are forcing our industry to rethink how investments in new product development are made. Progressive firms have responded to this challenge by introducing a new model for innovation, which requires deep ethnographic research, and considers “Ten Types” of innovation that, when leveraged properly, provide significant differentiation to products and services. Employing this approach creates a portfolio of offerings that span across an ambition matrix of Core, Adjacent and Game-changing products. By integrating this discipline with an industrial and patient-centric view of the key future trends in Biomedical Engineering, this presentation is intended to provide practical information and insights regarding the pathways and processes required to bring innovations to market. Through a review of these features and trends, attendees will gain an understanding of the elements necessary to construct a pipeline of products that emerge through organic development, partnership with universities or acquisition of other companies.
Scott P. Bruder, M.D., Ph.D., is an insightful and energetic healthcare leader with a 20-plus year history of bridging basic science, clinical medicine, and industrial development expertise to deliver innovative, commercially successful products that improve patients’ lives around the world. As a veteran Physician-Scientist Executive, he currently provides advice and counsel to start-up through multi-national conglomerate medical device, regenerative medicine and biotechnology companies, venture capital and private equity firms, and academic or hospital-based clients. Areas of
expertise include strategic planning, business, technology and market assessments, asset due diligence, innovation and portfolio management, clinical and regulatory affairs, intellectual property strategy and leadership development. Dr. Bruder most recently served as the Chief Medical and Scientific Officer of Stryker Corporation, where he guided clinical and scientific efforts across the company. In addition, he led company-wide efforts to craft the innovation and intellectual property business strategies.