MIT Bootcamps day 2: Exploring commercialisation

Introduction

This morning in Boston, a gentle snowfall created the perfect landscape for thinking about the problem while we navigated the slippery sidewalks, a metaphor for today's topic: navigating commercialisation.

Selling to Hospitals – A Case Study

We kicked off with an intriguing case study about Tom, moderated by Erdin Beshimov , a supply chain engineer transitioning from manufacturing to healthcare. His journey in tackling the critical issue of loss of controlled drugs in the supply chain was not just inspiring but also a testament to the power of being open to unexpected opportunities. This case highlighted the importance of context awareness and proactivity to find new opportunities. From a selling perspective Tom highlighted the importance of building relationships and find the customers in pain. But to me, the most striking aspect was his character: there was a palpable sense of responsibility and gratitude towards those who contributed to achieving the goal and create the impact.

Pivoting Technology from Lab to Market

One of the most thought-provoking sessions today revolved around the art of pivoting technology from the lab to the market, delivered by Luis Perez. Who would have thought that solar panel technology could innovate warm clothing, or forensic tools could be adapted for stain removal? This session challenged my thinking and underscored three vital learnings: the distinction between inventors and market explorers, the confusion of innovation with products, and the concept of creating a need to drive solution adoption.

Demystifying Insurance with Sim Kalon

Sim Kalon demystified the complex US healthcare system, focusing on the staggering $38 billion annual medical costs attributed to substance use disorders. We delved into the nuances of reimbursement systems, highlighting the lack of Value-Based Care (VBC) for substance abuse disorders and the critical role of coding in healthcare reimbursements.

Market Access for SUD

Our journey then led us to explore market access strategies for Substance Use Disorders (SUD). The key takeaway was the necessity for tools to demonstrate tangible ROI and integrate seamlessly into clinical workflows. We also discussed the importance of differentiating between digital health, digital medicine, and digital therapeutics, each requiring solid clinical evidence.

Collaborative Learning in Working Groups

The day concluded with the group session. We conducted multiple interviews with diverse stakeholders, gaining perspectives on social determinants of health in SUD and identifying potential areas for intervention. A special mention to the NIH's Matchmaker tool, a great resource for exploring current research and understanding the competitive landscape in this field.

Today's sessions have broadened my horizon in commercialisation and technology application. The learnings from today go beyond mere knowledge – they are insights that shape how we approach healthcare challenges and opportunities.