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2 min reading time
[Adapted from a true story I heard at last night’s meetup in Boston]
A guy walks into a gynecologist’s office with a device designed to help women suffering from urinary stress incontinence. The doctor is intrigued.
Doctor says, “Is it reimbursed?”
The guy says, “Yes.”
Doctor says, “How much?”
Guy says, “$178.”
Doctor says, “How long does the procedure take?”
Guy says, “15 minutes.”
Doctor says, “Get the hell out of my office.”
The doctor continues, “I can do a pap smear in five minutes and make $115. In the same 15 minutes I can make $345, so why would I do your procedure for $178?”
As a marketer, I learned long ago ‘never write the doctor can make money on your device.’ It is uncouth, even insulting. Doctors do what they do for the patients, not the money.
The anecdote suggests otherwise.
I learned there’s nothing comparable to this device and it serves a medical need. But this doctor wasn’t interested in it when he learned the return for his time and effort.
Pretty disappointing, if you ask me.
Is this a uniquely American phenomenon? Do you know of a rejected innovation because it wasn’t lucrative enough for doctors to care?
As much as I love our online group, nothing beats meeting in person. Thanks to everyone who met in Boston last night.
I’ll be in San Diego this Monday and Denver on July 29. If you’re available, come out to make new connections and share your stories.
San Diego: http://medgroup.biz/San-Diego-July-14
And see http://medgroup.biz/subgroups to find the Medical Devices subgroup in your city.
For Medical Device Startups Who Need Help
How to Get Money for MedDev Startups
Every Medical Devices Group webinar on demand (past two years)
The Medical Devices Group Advisory Board
Make it a great week.
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