For those interested in how to develop a product, the process typically starts with an idea:
If you have a great healthcare technology idea and want to go from concept to reality – or even if you don\’t – building a product is not easy. To succeed, your company should be willing to invest time and money into research and development, then transform that research into a machine- or people-based process.
What startups need to know: Startup companies with an idea for a healthcare technology product can hire in-house experts, but often it\’s better to partner with firms that have already developed the knowledge, products, and processes needed to create a go-to-market strategy and bring your product to market.
How to build a healthcare technology machine: Manually building your healthcare product is possible, but it\’s not ideal. At the very least, you\’ll need a 3D printer and pliers as well as the capability to program in multiple languages (Scala, Java) or use coding software available on the market. However, to be competitive, you\’ll need to have a development team with a range of skills and capabilities not easily found in one person. Your best bet: Find an IT partner experienced in healthcare product development. They can advise on the process and help get your product through its early stages while developing a sales strategy.
How to build systems to support a healthcare product: If your company\’s success depends on creating a specific product, you may need to hire an engineer or computer programmer to assist with development and maintenance. To stay competitive, consider hiring a developer early in the process to ensure that you have an expert who can guide you through future programming updates.
How to market your healthcare technology product: Be prepared to invest at least $1 million in your healthcare technology marketing campaign, which includes the development of brand identity as well as efforts to influence and persuade customers. Your company\’s ability to create a unique product will contribute to its success because other companies take similar approaches that could lead you into fierce competition.
How to ensure your healthcare technology product will beat the competition: The U.S. Food & Drug Administration (FDA) has different regulations for physical and software products, so make sure you understand their impact on your company\’s ability to compete in the marketplace.
How many people are needed to implement a healthcare technology project? To develop a working prototype of your healthcare product, your company needs a minimum of three employees: a designer, computer programmer, and IT expert. If you work with an external agency or freelancer, you\’ll need more people on your team to ensure that everyone is communicating effectively.
To keep up with product development demands in healthcare technology, entrepreneurs need to be prepared for multiple code updates, program uses, and sales strategies.
They should develop a strategy as soon as possible to ensure that they have the support of their team in building a healthcare product.