Mark provides insight into how a disruptive little startup, called Trice Medical, has created a brand new category in orthopedics and how they are executing today. Please excuse the cell phone skips during our conversation. You will be glad that you listened. Enjoy.
Mark Foster on LinkedIn - https://www.linkedin.com/in/mark-foster-meddevice/
Trice Medical website - https://tricemedical.com/
Trice Medical was founded to fundamentally improve orthopedic diagnostics for the patient, physician, and payer by providing instant, eyes-on, answers. Trice has pioneered fully integrated camera-enabled needle technologies that provide a clinical solution that is optimized for the physician’s office. Trice’s mission is to provide more immediate and definitive patient care, eliminating the false reads associated with current indirect modalities and significantly reduce the overall cost to the healthcare system.
A “Sacred Cow” is a firmly held belief that is rarely questioned. The big orthos are not immune to Sacred Cows because of their defensive mindsets driven by a short-term finance goals. I share 7 Sacred Cows that I see in Orthopedics today.
An analysis of how the background of the Founder creates strengths/weaknesses for the startup business in the early years. The Founder's strengths help to create the Founder's blind spots. I dissect 7 Founder types by strengths/weaknesses and offer advice on early moves to compensate for weaknesses.
I will share the one blindspot that the Big Orthos have that could bring them down in the future. Time will tell if this Achilles Heal will kill them, or if they adapt.
This is a deep dive into how Orthopedic Companies can leverage Digital Media using new strategies and techniques.
Lisa Denison and I cover these questions and more:
How do Orthopedics companies use digital marketing today?
How should Orthopedics companies use digital marketing?
Which social media platforms are the best for reaching surgeons and patients?
Walk me through some real example with details, timings, costs etc
What are the metrics of digital media versus traditional orthopedic marketing? For instance, how does a company do a targeted FB ad? Walk us the through the mechanics.
Talk about the cycle of experimenting, AB testing and how to make changes on the fly.
What are the laws regarding promoting to an individual doctor's practice?… and how do conservative orthopedic companies and progressive orthopedic company play this?
When should a small orthopedic company outsource their digital media and when should they insource it?
Lisa Denison can be contacted here - firstname.lastname@example.org
The first time this story has been told. This is the real story of Danek as told by Ted Bird. Ted was there. He was one of the early employees at Danek and was part of the team responsible for the dynamic growth. In this podcast you will hear some great startup business practices, some brilliant gambles and the culture that enabled Danek to go from zero to world dominance in spine.
An inside look into a successful orthopedic startup (OrthoHelix) from inception to being acquired. The story is told by Marty Wynkoop, co-founder and head of operations, sales and marketing. Marty shares nuggets of wisdom on how to build value in an orthopedics startup, hiring, funding, developing products, focusing on profitability and more.
This is a look inside a surgeon-founded startup that is disrupting the orthopedics industry, in this case, arthroscopy. An interview with Dr. Brett Sanders is an Orthopedic Surgeon who has re-invented trans-osseous arthroscopic tunneling fixation with some very clever cost-effective tools. His startup is called Tensor Surgical. http://tensorsurgical.com/
I share 16 specific pieces of advice. This is real-life coaching for Engineers who want to accelerate their careers in our industry. Nobody else in going to tell you this stuff. I wish I had know these stuff when I was starting out in Orthopedics. Enjoy.
Don't blow it early. The first 5 to 10 people that you hire in will either set your company up for success or break your company. I discuss six hiring mistakes that I have seen in early stage orthopedic companies.
Want innovation? Interation could be the killer app for creating game-changing innovation today in orthopedics.
Successful innovation giants that we all know like Danek, SpineTech, Kyphon, Arthrex, MAKO, Hand Innovations and Mazor Robotics used iteration to innovate.
I will teach you how to use innovation today in your company.
3D printing is the most significant advance in fracture immobilization in decades and Exiom has the best solution.
Listen to this "live" interview with the CEO of Exiom, Erik Paul. You will get the inside scope on the origins of the technology to grass roots commercialization here in the US>
Software makes a better cast or brace for your child or loved one. You will start to see these in Emergency rooms everywhere.
How does a surgeon take an idea and turn it into a solution that will change imaging in the operating room forever?
Listen to this "live" interview with the Founder of Micro C, Dr. Greg Kolovich. You will hear the story of product concept through design freeze, before FDA submission of his invention.
Micro C is reinventing what is possible imaging in the operating room with handheld mobile fluoroscopy. https://www.microcimaging.com/
Eavesdrop into a cell phone conversation between Joe and Tiger. We discuss a variety of topics, including: orthopedics buying decisions, LinkedIn, building medical device communities with digital marketing, the future of work, virtual consulting, and marketing direct to patients.
This one is for orthopedic professionals working in big orthopedic companies and have an interest in moving to a smaller orthopedic company. I share insights into how good people stuck and become "institutionalized". Don't become the frog.
The story of how the Arthrex founder went from a startup to the king of Sports Medicine using a different focus and style from all the other Orthopedic giants. Today, this little known executive is worth $5.9B (the 108th richest American).
In this series, you will hear unique insights into the orthopedic industry. Tiger will share trends, emerging startups that he believes are poised for success, and new ways of looking at successful orthopedic businesses. NOTE - Tiger has no allegiances or obligations to anyone in the industry so he can share honest insights about what he sees. Enjoy.
Something happened in 2018. I saw the Orthopedic world shift. It was subtle but real. This a wake-up call for my orthopedic peers as we head into the 2020 decade.
Dear CEO, the future of orthopedics is software.