ROI: Return on Innovation

The ultimate high-impact ROI that delivers for ophthalmic patients, investors, and innovators. Innovation is non-linear, experiential, elusive, difficult to teach didactically, and rarely meeting the ROI objectives of the aspiring investors and innovators. The cycle today from creative ideation, finding solutions, clinical validation, and ultimate commercialization can short-circuit at any point along the way and turn the setback into failure. But what I have learned is that breakdowns can be more important than incremental gains and learning from them – from the unexpected outlier or glitch – can turn a breakdown into a breakthrough, with the right team and the right attitude at the helm of the innovation  process. For the healthcare entrepreneurs and innovators, this can change not only the outcome, but the entire ROI - “return on investment” and “return on innovation.”

Medigy Insight

The process of innovation in the healthcare industry is non-linear, experiential, and difficult to teach. It can also be challenging to achieve financial success through this process. Breakdowns and failures can actually be more valuable than incremental gains and can lead to breakthroughs if approached with the right team and mindset. The process of commercialization is complex and requires specific skills and a significant time commitment, and it may be helpful to consider licensing an idea rather than starting a company. It is important for healthcare innovators to stay current and adapt to new developments, and to have a strong team and supportive ecosystem in order to navigate the challenges of innovation and increase the chances of success.