I'd like to see more digital health startups proactively imagine and then build logical integrations with potential strategic partners. When clearly defined, easy to implement, and connected to compelling returns, such arrangements can benefit both companies. These don’t have to be big, complex undertakings. Just simple connections that help your partner deliver better products / services, or that remedy or complement underdeveloped components of their commercial model. For example, think ahead to how your products could contribute to the upstream marketing funnels of medical device companies, ultimately helping people who are undiagnosed or undertreated progress to therapy. Or clinically, how might you be able to measure indirect health benefits that are valuable but inaccessible to your partners? When done well and implemented successfully, these kinds of partnerships can help your partner develop an appreciation of your business, and occasionally evolve into dependencies that yield bigger commercial and strategic advantages 💥
Digital health startups should proactively explore simple but valuable partnerships with potential strategic allies. These connections can enhance partner products, address gaps in their models, and lead to mutual benefits. It's about finding smart ways to contribute and create dependencies that yield significant advantages. 🤝🚀
I love the phrase "proactively imagine" — we need much more of that throughout our healthcare systems.
I concur. Sometimes, rather than buy or build, organizations should strategically partner.
🔥 Absolutely spot-on! In today's fast-paced digital health landscape, strategic integrations and partnerships are the key to unlocking exponential growth and impact. Startups that proactively seek synergies with potential partners can not only drive innovation but also create win-win situations for all parties involved as big healthcare companies tend to be slower on customer focused innovations. It's crucial to understand that these integrations don't have to be massive undertakings, but rather focused, value-driven collaborations that bridge gaps and enhance existing solutions. Startups can embrace the power of collaboration and drive the digital health revolution forward, one strategic partnership at a time. 🚀
I do wish larger strategic partners were more open to integrations with early stage startups.
100% agree and having been on both the buy and sell side in these partnerships and deals, my take is that this is the absolute best insurance policy your digital health startup can have.
Well said David. I've seen the converse all too often. I like your mention of "proactively imagine", "logical integrations" and dissuasion of the requirement of "big, complex undertakings." I'd only add avoid being a solution looking for a problem. There are plenty of problems requiring solutions that have substantial ROI.
Senior Behavioral/Social Scientist at RAND Corporation
8moGreat to see you on here, David Van Sickle! It's been a while! The longer I am around the policy field, the more I appreciate small, simple, incremental progress. You were always way ahead of me on this at RWJ and beyond!!