Innovation and Entrepreneurship in the Healthcare Sector: From Idea to Funding to Launch

For healthcare professionals, it is important to understand the difference between a good idea and a business opportunity. Innovation is crucial to the future of health care especially with trends such as personal medicine and retail and consumer-driven health care driving fundamental changes in the value chain. Unfortunately, many of today s budding innovations never make it to market. Instead, they re sidetracked by the pressures of patient care and practice management or sabotaged by legal, financial and marketing issues. Now, more of these good ideas can succeed thanks to powerhouse new book, written expressly for physicians and healthcare professionals, by Luis Pareras, MD, PhD, MBA. This book explains how to nurture that entrepreneurial spirit and apply proven business principles to fast-track new ideas into valuable real-world devices and other medical breakthroughs. Clearing the obstacles to innovation, this unique book is an investment that will repay physician-entrepreneurs many, many times over with guidance for researching the competitive landscape, protecting intellectual property, developing the right business and marketing plans, getting funding and going to market.Topics include practical strategies on how to:Motivate entrepreneurial thinkingUnderstand the difference between a good idea and an opportunityProtect your intellectual propertyEvaluate the real-world potential for a new innovation, device or productCreate a stellar business plan that fast-tracks progress Identify the right investors and raise capital the rules of the gameMake the right marketing and distribution decisionsLeverage MBA skills deal-making, valuation, negotiation, strategy, communication and more...Table of ContentsBasic Principles What is Innovation?What is Entrepreneurship?Understanding the Health Care SectorThe Health Care Value ChainLife Sciences Structuring the IdeaIdeas and OpportunitiesWriting the Business PlanThe Business Plan as a Communication ToolIntellectual PropertyCreating a Start-UpThe TeamLooking for FinancingWhat is Venture Capital?Presenting to InvestorsNegotiating with Venture CapitalistsValuationDeal StructureGoing to Market StrategyMarketingNegotiationCommunicationTypes of CostsThe Income Statement, Balance Sheet and Statement of Cash FlowsFuture TrendsManuscript Reviewers: The difference between those physicians who pursue their ideas and succeed, and those who don t is discovering how to approach and overcome the many barriers that stand in the way of success. This guide will help you decide if it is right for you to pull the trigger.Over the past 10 years, my academic colleagues and I have successfully started two medical device companies from self-generated device and methods patents. In retrospect, I can tell you that this book would have saved us a lot of time, money and grief! Read more