April 26, 2021
In a previous post we made the provocative (though somewhat uncontentious) point that if precision medicine isn’t approached as a business, none of the amazing treatments and technologies that so many organizations are advancing will ever make it to patients. We highlighted a consistent distraction from business focus: the belief that technology and/or medicine should lead.
Here we’d like to follow up on that discussion by turning attention to a fundamental and related cause of the challenges and failures in precision medicine. It is one that is often very hard for the struggling business itself to see: the conviction that completing major milestones or deliverables is the same thing as delivering business value, or that the potential value of these will somehow carry customers through to arrive at business impact. We call this dynamic an attempt to get “partial credit.”
December 1, 2020
Precision medicine is made possible by the stream of new technologies that are changing in basic ways how we diagnose, treat and prevent disease. Yet the vast majority of precision medicine companies grapple with how to turn amazing know-how into products and services that are what users and stakeholders most need, will actually use and create valuable businesses.
Why is that? In our experience the reason is almost always the same: precision medicine businesses approach things in that order of priority: precision (the technology), medicine (the clinical validation and implementation), and then finally as a sort of afterthought, the business.