June 3, 2019 // By Magenic
Magenic worked with the organization’s employees and customers to fine-tune its product-development approach.
A leading medical-technology company asked Magenic to help it enhance its research and strategy processes and bring innovative products to market faster. The company had found success with a tablet device that tracks usage of surgical sponges in operating rooms, which results in an average of $600,000 savings per incident. It was a home run, but beyond this one success, the company’s eyes had been opened to a new, better way of operating. The company wanted to go from being product-specific to product-agnostic, while continuing to release digital operating room solutions that optimize patient care. Magenic helped it get there.
Magenic’s diagnosis was to help the company develop an environment in which customers were put at the forefront of every product question and ideas could come from anywhere in the organization. Magenic began by convening stakeholders, including hospital administrators, patients, physicians, and nurses, and designing an outside-in approach centered on customer experience. Magenic challenged the company to consider its overall procedural efficacy in how it evaluated clinical and economic evidence for new products. It established a communication platform that relayed information throughout the organization, to both research and business units. It helped the company build empathy with customers by involving them earlier in the process and keeping them actively involved throughout the lifespan of the product. And Magenic put innovation at the core of everything the company does.
Magenic helped the company broaden its lens beyond just thinking about products and considering the overall procedural experience of participants in a medical event. It asked the company to envision an ideal operating room experience and imagine how digital solutions can support that.
Magenic dramatically changed the company’s innovation culture. Where in the past the company used a sequential-waterfall approach to product development, in which business leaders would hand off results to research for the building of the software, now it uses an iterative and integrated approach, which stimulates innovation.
The impacts have been profoundly felt throughout the organization. Magenic reduced the company’s 18-month product evaluation process to 11 weeks, in part by tightening the alignment between business and technology teams. The company can now make an assessment to move forward with an idea, find a partner for it, or shelve it, faster than ever before. The company quickly went from having 14 product ideas in its pipeline to 30.
Just as important is the company’s new road map. Previously it had been focused on hardware that filled short-term market needs. Today the organization is aligned around a long-term commitment to innovation centered on customer-focused software. It’s collaborating with customers and patients in new ways, and feeding those insights into its integrated team.
Key to this new culture is how departments communicate with each other. Silos no longer exist. There’s a greater connection between all departments in the organization, from marketing to product development to sales. Delivery is now wedded equally to research and strategy. The tangible outcomes can be seen in the acceleration of product evaluation and market delivery. The intangible values can be felt in the culture of innovation.
The upside of this innovation upgrade? New and improved products that lead to increased patient safety and reduction in avoidable clinical mistakes.