Business impact

Innovation is critical to long-term success, but it can take many forms depending on a company's culture, stakeholders, and customer-buying behaviors. The innovation process is fundamentally different from most other business activities and requires a different logic, infrastructure, and style of management. Following are three ways medtech companies can create an innovation engine that will help them manage truly game-changing innovation and find new sources of revenue.

Be ambidextrous

By creating an innovation operating model that separates breakthrough and radical innovation from the incremental innovation necessary to support the core business.

A new kind of innovation for medtech

A new kind of innovation for medtech

Using innovation incubators

Using innovation incubators

Collaborate to get closer to the patient

By integrating into the broader patient experience, the larger health ecosystem, and new payment models.

New expectations for medtech value

New expectations for medtech value

Measure innovation in new ways

By using forward-looking metrics and connecting the dots for shareholders, who need help understanding the changing role and nature of innovation.

New analytics for medtech innovation

New analytics for medtech innovation