Legacy DNA Combines Science, Storytelling, and a Fresh Perspective to Tackle the Healthcare Industry’s 90 Percent Innovation Failure Rate
ORLANDO, Fla. (PRWEB) March 21, 2018 -- With innovation failure rates estimated as high as 90 percent, leaders in the healthcare industry need a strategic, calculated, and research-backed plan to successfully move new products, services, and business models from an idea-to-concept-to-commercialization. Orlando’s Legacy DNA Marketing Group, led by Dr. Roxie Mooney, DBA, uses marketing science, storytelling, and the most current commercialization of innovation research to help these innovators circumvent failure and maximize ROI in an increasingly challenging and competitive landscape.
For years, Dr. Roxie has studied the commercialization strategies and tactics used by business leaders, as well as the common pitfalls that prevent even the most promising innovations from reaching commercial success and mainstream adoption. The findings from her doctoral research were published as an article in the Fall/Winter 2017 volume of the University of Tennessee Martin’s peer-reviewed Journal of Business and Economic Perspectives titled, “How Leaders Market and Commercialize Healthcare Technology Innovation”.
In her original dissertation, she explored and analyzed various strategies for successful commercialization—across all phases of the innovation process—and the nuanced differences for radical and incremental innovations. Dr. Roxie found that commercial failure was often linked to challenges associated with being a first-mover and having unclear branding, positioning, and messaging, especially for a radical innovation. To make her findings more accessible and actionable for health innovators, she’s adapted her dissertation into a white paper titled, “10 Steps to Healthcare Technology Innovation Success.”
“The more you delve into the data and research, the clearer it is that there are patterns, obstacles, tendencies, and commercialization decisions that can mean the difference between success and failure for new innovations,” says Dr. Roxie. “There are so many promising advances with the potential to revolutionize healthcare. I want to help guide as many health innovators as possible through the commercialization process because getting their new products, services, and business models into mainstream is the only path to better patient outcomes and enhanced ways of practicing medicine.”
With this research, Dr. Roxie and the rest of the Legacy DNA Marketing Group team demystify the innovation process with a proven Commercialization of Innovation (CoI) framework for new and established companies. From understanding true market need, to defining the minimal viable product, to circumventing death by pilot when obtaining proof-of-concept or clinical validation, to dispelling brand confusion after integrating the innovation into the product or service portfolio, and much more, the Legacy DNA Marketing Group team is highly-experienced and well-equipped to lead innovators to success.
“The healthcare innovators who truly flourish are the ones who start meticulously planning their commercialization strategy well before the product is fully developed. Too many healthcare leaders wait until the product is completely developed before they start thinking about commercialization,” adds Dr. Roxie.
Legacy DNA Marketing Group has won several awards and accolades for its work, including the Aster Awards’ “Excellence in Healthcare Advertising” and recognition from Colorado Healthcare Communications, the Florida Society for Healthcare Public Relations and Marketing (FSHPRM), the Florida Public Relations Association (FPRA), and Florida Magazine.
To download Dr. Roxie’s white paper, “10 Steps to Healthcare Technology Innovation Success,” visit the Legacy DNA website. Her research as published in the Journal of Business and Economic Perspectives is available here.
ABOUT LEGACY DNA
At Legacy DNA Marketing Group, we believe that your story and science matters. For nearly a decade, we’ve used a mix of strategic marketing science and creativity to help specialty pharmacies, digital health innovators, and value-based healthcare providers take a bold approach to generating meaningful healthcare outcomes.
We are the only marketing agency that’s worked in the specialty pharmacy industry for nearly a decade and we’re experts at commercialization of innovation. We’re up-to-speed on all the latest strategies required to successfully take a new healthcare technology to market. We’re also the first agency to help companies differentiate value-based healthcare from volume-based healthcare. We’ve been marketing value-based healthcare since 2007—before the Affordable Care Act was passed and pay-for-performance became the new normal.
Why do we do it? It’s simple. If your story fades in the background of the competition, you’ll be invisible. We’ve made it our mission to free businesses from the confines of me-too marketing and corporate blandness.
Want to break away from the sea of blue scrubs marketing that occupies the corporate sidelines? Capture the attention your innovation deserves. Reach out to us at attention(at)legacy-dna(dot)com and let Legacy-DNA Marketing Group help you reveal your company’s DNA.
Leslie Coleman, Legacy DNA Marketing Group, http://www.legacy-dna.com, +1 321-277-4546, [email protected]
Share this article