Author Archives: Arlen Meyers

Advice to a Young Physician Entrepreneur

I’m often asked about how to pursue a physician entrepreneurial career pathway. Like Peter Medawar opined almost 35 years ago in his “Advice to a Young Scientist”, allow me to offer some advice : 1. You will not learn about innovation or entrepreneurship in medical school or residency. Medical education is designed to teach students clinical care and research methods. If ...

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The 4 V’s – How to Win at Health Innovation

Back in the day, during the Vietnam era, the suggested credo was “Declare victory and go home”.  Some sick care entrepreneurs have taken a similar approach by hyping digital health and process solutions that will create “Uberized, disruptive, cutting edge” change. Most are too early and wrong in declaring victory. For sick care innovation to be truly transformative, innovators need to demonstrate 4 main things : ...

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Barriers to Physician Entrepreneurship

Physician entrepreneurship describes physicians, or other health professionals, pursuing opportunity under conditions of uncertainty with the goal of creating user defined value through the deployment of biomedical and clinical innovation. One way to do that is to create a product, a service or a company, but there are many other ways as well. Fortunately, students, trainees and clinicians at all ...

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Do you have an innovation strategy?

A recent article by Juruzelski, Loehr and Holman from Booz Consulting (www.strategy-business.com) noted that there is no statistically significant relationship between financial performance and innovation spending. What’s more, they identified that the two primary elements of innovative companies are 1) a focused innovation strategy, and 2) an corporate culture that is wired for innovation. There has been a lot of ...

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Therantology

Therantology

The Theranos story continues to unfold in the headlines and will likely be the stuff of Harvard Business School cases for years to come. Here is a brief history of Theranos. and where they find themselves now. According to the WSJ, Theranos Inc. said it will shut down its blood-testing facilities and shrink its workforce by more than 40%. Now, she has been ...

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Advice to a Medical Student Entrepreneur

Dear Susan, Congratulations on your recent graduation. I’m sure you are thrilled to start medical school in August and are looking forward to taking a break this summer. The usual commencement speech I’d give, had I been invited, goes something like this: Given your interest in building the company you started in college,however, you might want to rethink that vacation in ...

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Have an idea? What’s next?

During residency, Dr. Jones, realized there were many surgical problems that needed innovative solutions. During his chief year of residency, he started his first company and created and acquired patents around a more convenient surgical instrument. While working on this project, he identified several other clinical problems that needed to be solved and began to add to his portfolio of products. ...

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A Boomers Guide to Teaching Millennials

My parents were traditionalists. I’m a boomer. I work with a lot of Gen-Xers. I teach a lot of millennials. We are all trying to understand each other and adapt to how we teach and learn. Some teachers have to deal with helicopter parents more than the kids. Since we are all, mostly, products of our environment and the cyclical ...

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10 Reasons Why Digital Health Startups Fail

Startups, in general, fail for many reasons. One observer mentioned his top 5 reasons as 1) lack of capital, 2) expanding too soon, 3) heavy reliance on debt, 4) poor strategy, and 5) poor business model and plan. Ultimately, there are two basic reasons: 1)They make stuff no one wants to buy, and 2)they have a business model that is not valid ...

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What Makes Innovation Districts Successful?

What Makes Innovation Districts Successful?

Open innovation, a rarity in sick care, depends on the free flow of information from inside to outside and vice versa. For that to happen, it takes a permeable membrane to drive osmotic flow of information and possible solutions across the separator. Like a polaroid lens that allows you to see things only when the optical conditions are right, likewise, ...

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