New Cardiac Product Development
Disrupting the cardiac device market with treatment innovation is no small feat. To maintain their place as leaders in the market, our client needed to deeply understand the trade-offs that physician specialists would make when converting patients to this breakthrough treatment. Physicians would have to think differently about what successful heart rhythms are truly required in a future state where they could gain many more benefits for their patients. Therefore, we needed to help our client understand the design requirements they should target in R&D.
We trust in our three-phased approach to informing new product development of new treatments. First, we workshop to frame the challenge to ensure we are solving the right problem and leave no value on the table. Secondly, we conducted deep one-on-one discussions with physician specialists to explore the underlying rationale, fears, and motivators. We were able to take that insight into a third step – conjoint validation. Through this robust quantitative endeavor with physicians, we were able to identify the most impactful levers (features) to impact adoption.
Our clients invest millions of dollars bringing life changing treatments to the market. In this case, they were able to focus on developing product features that mattered the most and make the best of their investments while ensuring speed to market. The team received FDA approval for their product in 2020.