Innovation and Entrepreneurship in the Healthcare Sector: From Idea to Funding to Launch - Softcover

Luis G. Pareras; M.D.; Ph.D.; MBA

9780982705537: Innovation and Entrepreneurship in the Healthcare Sector: From Idea to Funding to Launch

Softcover

ISBN 10: 0982705530 ISBN 13: 9780982705537

Publisher: Greenbranch Publishing, 2011

For healthcare professionals, it is important to understand the difference between a good idea and a business opportunity. Innovation is crucial to the future of health care especially with trends such as personal medicine and retail and consumer-driven health care driving fundamental changes in the value chain. Unfortunately, many of today s budding innovations never make it to market. Instead, they re sidetracked by the pressures of patient care and practice management or sabotaged by legal, financial and marketing issues. Now, more of these good ideas can succeed thanks to powerhouse new book, written expressly for physicians and healthcare professionals, by Luis Pareras, MD, PhD, MBA.

This book explains how to nurture that entrepreneurial spirit and apply proven business principles to fast-track new ideas into valuable real-world devices and other medical breakthroughs. Clearing the obstacles to innovation, this unique book is an investment that will repay physician-entrepreneurs many, many times over with guidance for researching the competitive landscape, protecting intellectual property, developing the right business and marketing plans, getting funding and going to market.

Topics include practical strategies on how to:

Motivate entrepreneurial thinking

Understand the difference between a good idea and an opportunity

Protect your intellectual property

Evaluate the real-world potential for a new innovation, device or product

Create a stellar business plan that fast-tracks progress Identify the right investors and raise capital the rules of the game

Make the right marketing and distribution decisions

Leverage MBA skills deal-making, valuation, negotiation, strategy, communication and more...

Table of Contents

Basic Principles What is Innovation?

What is Entrepreneurship?

Understanding the Health Care Sector

The Health Care Value Chain

Life Sciences

Structuring the Idea

Ideas and Opportunities

Writing the Business Plan

The Business Plan as a Communication Tool

Intellectual Property

Creating a Start-Up

The Team

Looking for Financing

What is Venture Capital?

Presenting to Investors

Negotiating with Venture Capitalists

Valuation

Deal Structure

Going to Market Strategy

Marketing

Negotiation

Communication

Types of Costs

The Income Statement, Balance Sheet and Statement of Cash Flows

Future Trends
Manuscript Reviewers: The difference between those physicians who pursue their ideas and succeed, and those who don t is discovering how to approach and overcome the many barriers that stand in the way of success. This guide will help you decide if it is right for you to pull the trigger.

Over the past 10 years, my academic colleagues and I have successfully started two medical device companies from self-generated device and methods patents. In retrospect, I can tell you that this book would have saved us a lot of time, money and grief!

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About the Author:

Luis Pareras, MD, PhD, MBA is Director of Innovation and Entrepreneurship at the Barcelona Medical Association. He is a Neurosurgeon and he has a Global Executive MBA from IESE Business School. An entrepreneur himself and author of more than 20 books, Dr. Pareras serves on the boards of several healthcare start-ups and venture capital firms and his mission is to help physicians with the analysis and launch of new healthcare initiatives -- opportunities in life sciences, medical devices, services and IT in the healthcare sector.

Review:

Over the past 10 years, my academic colleagues and I have successfully started two medical device companies from self-generated device and methods patents. In retrospect, I can tell you that this book would have saved us a lot of time, money, and grief! The work presented here by Dr. Luis Pareras is a timely "blueprint" that covers all the critical aspects of technology transfer from idea to product. In the academic environment, there are so many bright and motivated people - and ideas are a dime a dozen. Few physician/scientists, however, have the insight or the time to carry out even the most fundamental steps of translating their idea into a fundable enterprise. The steps are outlined here for you so you can successfully fill those unmet clinical needs in medical practice. The book is well-written and concise, uses illustrative figures, and is clearly presented in a logical sequence. Dr. Pareras' expertise in medicine, technology, and business renders him uniquely qualified to write on this topic. The book is a "must" for any science or business entrepreneur interested in technology and innovation in medicine.

Albert C. Lardo, PhD, FACC, FAHA Associate Professor of Medicine and Biomedical Engineering, Johns Hopkins School of Medicine, Baltimore, MD --Manuscript Reviewers

Every doctor, including myself, has an idea or a concept that would improve the healthcare of his or her patients that he or she would like to see developed and brought to market. Unless the doctor has been to business school, it is unlikely that the idea will make it from that "Eureka!" or "Ah ha!" moment. Thomas Edison said it so well nearly 100 years ago, "Genius is one percent inspiration, ninety-nine percent perspiration." In the past, the term "physician-entrepreneur" was considered an oxymoron. Few physicians have the background and skills to bring an idea to the marketplace. There is no one better positioned to write the book on innovation and entrepreneurship than Dr. Luis Pareras. He has the medical skills that are necessary to understand the mindset of physicians but also the business background and training that so many of us are missing. We possess the medical skills, and, with this book, Dr. Pareras can help us to combine clinical skills with business savvy.

Dr. Pareras has provided us with a book that will teach us how to go from the generation of the idea, to the creation of a business plan, to the development of the proposal to take to industry, then to the testing and evaluation of the product. He even includes the creation of the marketing plan for promotion and discussion of final distribution of the product. This book also contains the methods and techniques for developing and protecting intellectual property, which in the information age will be just as important as being an entrepreneur for a device or product. Thanks to Dr. Pareras for outlining the process that requires planning, skill, leadership, and persistence.

For those of you who have the idea and the passion, and are willing to invest the 99% of perspiration to make it happen, use this book as your road map to success.

Neil Baum, MD Clinical Associate Professor of Urology, Tulane Medical School Author of Marketing Your Clinical Practice - Ethically, Effectively, Economically New Orleans, LA --Manuscript Reviewers

This book arrives in the right moment. It is essential that healthcare professionals lead the innovation in the sector, because they are the ones best positioned to detect the needs and opportunities.

Joaquim Vila Professor of Strategic Management and Innovation, IESE Business School Director, IESE Executive Program on Innovation Management Barcelona, Spain --Manuscript Reviewers

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