By Joshua Finley

The healthcare industry is rapidly evolving, driven by emerging technologies, changing regulations, and shifting consumer demands. Leading this complex landscape requires expertise and vision. Dr. Jon Belsher, an accomplished physician executive and serial entrepreneur, provides his insights on disrupting today’s healthcare system through technology and innovation.

Crafting an Effective Go-to-Market Strategy

According to Dr. Belsher, a strategic go-to-market (GTM) plan is essential for any new healthcare product or solution, “It takes planning, thoughtfulness, and strategic input from key parties.” He explains, “It cannot be an afterthought or casual exercise. A go-to-market strategy, in short, cannot be left to chance.”

Dr. Belsher notes that founders often have a limited understanding of GTM strategies. His approach is about identifying gaps in their knowledge and understanding in order “to help them craft a compelling, effective, and thorough go-to-market strategy.”

Prioritizing Patient Outcomes and User Experience

The end result of any healthcare innovation should ideally center on improving patient outcomes. Dr. Belsher emphasizes, “It’s important to prioritize patient outcomes or patient impact, as well as user experience.” Without delivering patient value, a solution can struggle. The converse is also true if the product or solution delivers patient value but is terribly cumbersome to the end user. “If either scenario is true…it’s going to be an uphill battle to gain adoption.”

Many entrepreneurs approach Dr. Belsher with solutions, looking for problems. He emphasizes that the reverse approach is paramount. “It’s critical to narrowly define the problem you’re intending to solve and understand it inside-out. Only then develop the solution.” If at all possible, avoid developing a solution and then asking, ‘Where does it fit in?”

Attempting to build an overly broad solution out of the gate is another problem he sees occasionally. It often dilutes the impact of the core or fundamental solution, he emphasizes. Dr. Belsher counsels founders, “Resist the temptation of developing too broad or too general of a solution. This approach is far less effective and can lead to challenging hurdles with clients and  investors.”

Overcoming Adoption Barriers

Even if a healthcare solution delivers impact, adoption barriers can hinder success. As Dr. Belsher explains, “How will adoption be seen by the end user? What’s the investment in terms of both time and cost? These are the things that a founder must think through.”

Questions from potential customers or clients will typically focus on training time, implementation costs, opportunity costs, and complexity. Founders must proactively think through these adoption challenges, taking care to fully understand the time and resources required for implementation of their product or solution.

In today’s environment, new solutions must not only pay for themselves but drive revenue. The C-suite and board will look at this aspect of the product or solution closely. As Dr. Belsher states, founders must have “a clear understanding of how their product or solution is going to be paid for, reimbursed, etc.” He emphasizes the importance of identifying reimbursement pathways early on: “It’s critical to understand all relevant CPT codes, how commercial insurers will view the solution, etc.” Without reimbursement or payment clarity, even the best of innovative solutions will often struggle to gain traction.

Balancing Clinical Impact with Financial Viability

Dr. Belsher stresses that driving change in healthcare requires delivering both clinical value and financial return: “To be successful, you have to demonstrate both clinical impact and financial value.”

Solutions lacking clinical impact clear reimbursement or revenue pathways face significant hurdles. Accordingly, Dr. Belsher generally advises early-stage healthcare technology companies that have designed products or solutions at “the critical intersection of clinical impact and financial value.” This drives his mission of ensuring healthcare innovations with the highest chances of success reach the market and see an exit.

While optimistic about the future of healthcare, Dr. Belsher acknowledges that the evolution of the system will be more gradual than many would like, stating healthcare is “going to take all of us to create a better future – a better future for patients importantly as well as hospitals and healthcare systems.”

He views cross-industry collaboration as an important adjunct to optimizing healthcare: “The healthcare sector can learn a lot of things from the tech sector, finance sector, etc.” By sharing insights across industries, positive change will more rapidly occur.

Dr. Belsher concludes, “It’s going to take all of us to realize a better day in healthcare. I’m confident we will get there.” Driven by dedicated founders focused on the intersection of clinical impact and financial value, the healthcare landscape will continue improving. Driving better patient outcomes, delivering better patient experiences, and ensuring sound financial returns are his north star guiding future innovation.

To learn more about Dr. Jon Belsher and his approach, check out his LinkedIn profile or visit his company, Visura.

Published by: Annie P.