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Biodesign by Paul Yock, Josh Makower, Stefanos Zenios

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4.4 Business Models

Introduction
“It seemed like such a good idea, but why did it fail?” asks the frustrated engineer. “Hospitals are capable of purchasing massive million-dollar imaging systems in this specialty, so why were they so resistant to buying disposables?” Even though the total cost per year of this innovator’s idea was comparable to (or even less expensive than) the established device solution, there was a fundamental problem that he failed to overcome. The flaw was in the business model. Sometimes an idea can be medically compelling, capable of clearing all regulatory hurdles, and manufacturable at a profit, but if the business model cannot work, the idea will fail. Innovators must consider the business model as one of the key ...

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