🎙Dr Roxie Mooney, DBA’s Post

What if I told you that you can price an innovation 𝗔𝗡𝗗 make a profit? Every innovator 𝗪𝗔𝗡𝗧𝗦 to win customers, but they 𝗡𝗘𝗘𝗗 to not go broke. 🚨 News Flash: bringing healthcare innovation to market ain’t cheap 🚨 Maintaining a balance between wants and needs can be difficult 👍🏼 but it is possible to attract customers, cover costs, and turn a profit. 𝑯𝒆𝒓𝒆 𝒂𝒓𝒆 5 𝒒𝒖𝒆𝒔𝒕𝒊𝒐𝒏𝒔 𝒊𝒏𝒏𝒐𝒗𝒂𝒕𝒐𝒓𝒔 𝒔𝒉𝒐𝒖𝒍𝒅 𝒄𝒐𝒏𝒔𝒊𝒅𝒆𝒓 𝒘𝒉𝒆𝒏 𝒑𝒓𝒊𝒄𝒊𝒏𝒈 𝒂𝒏 𝒊𝒏𝒏𝒐𝒗𝒂𝒕𝒊𝒐𝒏: ✅ What’s your positioning and differentiation from the competition? ✅ Will you be direct-to-consumer or reimbursement based? ✅ Have you considered the cost of research and development? ✅ Will you utilize a “skimming” pricing strategy or a “penetrating” pricing strategy? ✅ How quickly do you want to diffuse into the mainstream market? Pricing plays a vital role in how quickly a product gets adopted into markets. If you ask the harder questions upfront and keep your eyes on the bigger picture 👀 you can price your innovation to attract customers, cover costs 💰 AND bring in the money, money, money, 𝗠𝗢𝗡𝗘𝗬! 💰 What considerations played a role in your pricing strategy? Tell us about in the comments below! ⤵ #digitalhealth #coiq #pricingstrategy #healthcareinnovation