Scott Klein

Heading to meet with Quality Means Business in Boston ahead of an exciting two days at the LSX Global Medtech conference. Michel E. Moravia, MBA, MSE continues to amaze me with his insight, leadership, and resilience as QMB heads into the next stage of its development. The journey of the start-up is NOT for the faint of heart. Humbled to be a part of an incredible board and supporting an honorable and humble leader working hard to bring a product to the market that is not only unique but will improve safety for patients and decrease wasted resources for companies bringing technology to the marketplace in a safer and more efficient manner. I am excited to hear the presentations at LSX - partnering for Life Science eXecutives, network with innovators and thought leaders, and am thrilled to help share the experience and expertise of the panel as we discuss Cash, Crew, & Commercialization: A Start-Ups Journey to Success. On Friday, I head to Portugal to attend the 3rd annual LSI Emerging Medtech Summit as Scott Pantel continues to drive incredible value globally for the world of Medtech. The technology, leadership, networking, presentations, and thought leaders never disappoints. As I am halfway through my 10th year in the industry leading Shurig Solutions, Inc., I am humbled daily by the opportunity to be involved in our space and the goal of bringing improved patient outcomes, patient access, and increased efficiency to the healthcare system. As this last 1.5 years has been extremely challenging for many relevant to the economy, numerous layoffs, the challenges of raising capital, and an incredibly competitive landscape, I continue to be amazed at the resiliency and strength of so many Medtech leaders, service providers, and friends that I have been blessed to meet, know, and partner with. As Dr Joe Dyspenza always says…. Gratitude is the ultimate form of receivership. 🙏. I am grateful for the opportunity to attend, learn, and grow! #innovation #medtech #resilience #giftofgratitude #neverstoplearning #growthmindset #networking

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ASCs are the future battle ground for the soft tissue surgical robotics market - sub divided by new types of robots (Lower acuity) and better on workflows and efficiency... #surgicalrobotics #ASC #roboticsurgery

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Last week, I got invited to SDC's liquidation auction. WHY that's a wake-up call for everyone in MedTech... BUT what happened? 👇🏼 SmileDirectClub (SDC) crashed from $3.2 billion (IPO)! I watched this story as a supplier from the sidelines. Aspiration, innovation, & an inevitable ending... ⬇️ Phase ➊ : A Bright Start SDC's model of "Direct" service disrupted traditional practices, reducing clinician involvement and reshaping customer expectations. With their reduced pricing, SDC eventually treated an estimated 2Million patients! Phase ➋ : Challenges Surface Their IPO in September 2019 was promising (a $3.2Billion valuation) but SDC faced criticism. The friction with professional communities hinted at a broader challenge - the critical role of clinician involvement in healthcare. But with their low-price business model, making a profit was difficult! Phase ➌ : Decline The tale took a turn as SDC's stock began its descent in early 2021. Coincidentally, this was when Byte, embracing the clinician-patient relationship, found a new home with Dentsply Sirona. Phase ➍ : The Culmination December 2023 brought news of SDC's bankruptcy filing, a move often seen as a strategy for survival. Yet, the recent invitation to a liquidation auction marked the definitive close of this Story. The lessons are unmistakable: ❗ Disruption can't risk clinician-patient relationships. ❗ Business models must follow rules & regulations. ❗ Health innovation needs the human touch. ❗ Best to focus on Quality... not on price! Otherwise you loose... $3.2 billion ➪ $0 ... in just 5 years. What do you think about SDC's story? P.S. As we bid farewell to SDC, let's acknowledge the paths they've paved and the lessons they've left behind. Here's to finding the right balance in our own ventures!

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Hospital/System CFO's recently ranked "cost reduction" number 17 out of 17 possible "most important" initiatives. This is interesting, especially since historically it has consistently ranked in the top 3. In a market with razor thin margins (1-4%), it's hard to save your way to profitability. They are being forced to grow strategically, which includes growing existing revenue streams, and finding new ones. Surgery is stressful. Imagine the added stress of it being related to cancer. Most cancer patients don't have the mental acuity or bandwidth to track highly technical/clinical conversations, and envision what the Dr. is speaking about. All they can fixate on is, "am i gonna live?", or "can I beat this???". Any tool that makes it easier for the Dr. to educate the patient on what they are proposing to do in surgery will make a huge impact. An educated patient is an empowered patient. Empowered patients make decisions about their care. Those empowered patients usually gravitate towards the Dr. who was instrumental in that patient's "empowerment". This dynamic may be conscious or sub-conscious. Regardless, it is real. Russ Yoshinaka and I discussed this in a recent sit for episode 48 of The Bleeding Edge of Digital Health Podcast, which is now up and live on all the major podcast directories and our YouTube page for viewing (links in comments!). We also talked about the many other ways that Ceevra, Inc. has been able to create value for their customers and their patients at various stages within the surgical journey. Physicians will not be replaced by AI/Technology. However, Physicians that do not augment the natural computing power of the human brain with AI/ML tools will be replaced by those that do. SaaS & SaMD can play a key role here. Specifically tech such as Ceevra, Inc.'s, which allows physicians to really separate themselves and their institution from the pack in the eyes of the patient (aka, the customer). Tim Wern Joseph Shirk Ken Koster Tomer Stavitsky Hanna Winter Andy Ylitalo Emily Lepert Alex Gilman Connor Normand Scott Haymond Sarah Beaudoin, R.T. (R)(CT) #surgicalplanning #digitalhealth #medicaldevice #medicaldevices #AI @ML #artificialintelligence #machinelearning

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Struggling with surgeons showing up (and converting) for your sales meeting? Today Orrett Davis and I cover that topic in our weekly Medtech Growth levers zoom call. Register here: https://lu.ma/438yul07 #medicalsales #medtech #digitalhealth #medicaldevices #medicaldevice #medicaldevicesales

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How did we successfully bring our medical device to the largest birthing hospital in the US, Northside Atlanta? I share this story and several others in my monthly newsletter. Sign up for free insights into building a medical device business in women’s health. I discuss my personal experience in: - Identifying key decision makers: Critical in shortening the sales cycle. - Conferences I attended: Regional meetings are often a great way to meet key clinicians from large hospital groups. - Gaining clinical buy-in: Often a department wide presentation to introduce your product makes the biggest impact. - Navigating the value analysis committee: Clinical data, user feedback, and a cost-benefit analysis all add weight. - Training & education: For devices used department wide, your education strategy is critical in driving adoption. Northside are now one of the largest users in the US, but it wasn’t easy getting there. A lot of research, relationship building, travel, enthusiasm, hard-work, and patience were needed. It was a valuable experience working through the sales cycle at one of the largest birthing hospitals in the country, and one which would be applied to several other large accounts throughout the country. We took our product from development to launch, and ultimately exited to a large player in women's health. You can sign up to the newsletter by visiting my new LinkedIn company page OBG Access. Is 18 months old too early to teach your child about business? I think he’s ready. From now on he comes on my business trips! #Business #Innovation #MedicalDevices #WomensHealth #Obstetrics #Newsletter #StartUp #OBGYN

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Excited to share the 4th episode of the podcast series on the #MedDevice Sales! 🎙️ In this podcast, Vinod Venugopal & I dive into what a typical day in medical device sales looks like, and share some key insights on building strong, lasting relationships with doctors and customers. For anyone in #MedTechSales or looking to enter the field, this discussion offers practical tips and strategies to stand out from the competition. 💼💡 Highlights include: 1:48 - A day in the life of medical device sales 4:00 - Building & maintaining customer relationships to get an edge It also starts with my brief introduction. Links to the previous episodes are in the comments. Let’s keep pushing forward in your MedTech journey! 🚀 #CareerCoach #MedicalDevice #MedicalDeviceIndustry #CompetitiveEdge #MedTech #MedicalDeviceIndustry #MedicalDeviceSales #CareerPath #MedTechCareer #MedTechSales  #TheMedTechPodcast

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I’d like to share HealthPad’s latest Commentary, “Shaping the Future: MedTech Leadership in a Fast-Changing World.” The Commentary outlines seven critical leadership capabilities essential for navigating technological advancements, regulatory challenges, and global markets to drive innovation, improve patient outcomes, and ensure corporate success. https://lnkd.in/eamrhwQd

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This past weekend at #HRS2024, Dr. Vivek Reddy presented results from the late-breaking ADVENT sub-study, which demonstrated that patients treated by the FARAPULSE™ PFA System saw superior reduction in residual atrial arrhythmia (AA) burden compared to patients treated with thermal ablation. This positions FARAPULSE™ as the first and only PFA technology to have proven superior efficacy versus traditional thermal ablation in a high-quality, randomized trial.   These findings are important because AA burden is known to be a better predictor of clinical outcomes, and is linked to improvements in quality of life and reductions in healthcare utilization. In addition to demonstrating a statistically superior reduction in AA burden, data indicated that low AA burden was associated with fewer clinical interventions and improvements in quality of life, making this an impactful finding for overall public health.   Heartfelt congratulations to Dr. Reddy, lead investigator of both the ADVENT clinical trial and this sub-study, and his team for his work supporting this important clinical milestone.   Read more here: https://lnkd.in/enn4w7t9

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Impact of IV Solution Shortages on Elective Procedures in the U.S. https://lnkd.in/gbBBuJyT #Baxter #ElectiveProcedures #healthcare #hospitals #IVsolution #MedicalSupplies #OrthopedicSurgeries #orthopaedics #SupplyChain

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Innovative MedTech does not equal great business. 🤡 Significant clinical impact does not equal great business. 😵‍💫 Validation from physicians does not equal great business. 🫣 To succeed in MedTech, you require a combination of multiple strategies to be executed correctly. One of which is the health economics of your product. What value is created for patients, physicians, payers and other actors? Sometimes, data on health economics can be collected through market analysis. Other times, you must include health economic parameters in your secondary outcomes in a clinical investigation. Health Economics and Outcomes Research (HEOR) should not be a part of your post-approval sales efforts. It should be one of the core attributes of your regulatory and go-to-market strategy. Who's paying, and what value do they get in return? #heor #medtech #medicaldevices #healtheconomics

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Sirona Medical took a novel approach to reimagining diagnostic radiology. It's an approach I believe we will see future software companies replicate across the various specialties in medicine. First, they built, from the ground up, an "Epic" like operating system (RadOS) for diagnostic radiology, all in one unified cloud native platform. One system, one service provider...eliminating the need for servers, hardware, etc. This also eliminates the need for radiologists to move in and out of countless different software platforms to accomplish the day to day tasks associated with practicing medicine. They then built assistive AI programs into system, making physicians faster, and more effective. And finally, they allowed top 3rd party AI vendors to build the kind of diagnostic AI programs on top of their platform, that are the future product that radiology will provide. This is the path less traveled for sure. It's expensive, and takes a considerable amount of time. But the impact these types of platforms will have on physicians, patients, and the system as a whole is profound. I believe strongly that what Sirona Medical has done will revolutionize this space. Over the next couple weeks, I will post some additional clips to further inform the market on why what they have done is so unique...and just how transformative this technology will be. In the interim, episode 46 of The Bleeding Edge of Digital Health Podcast is now up for viewing on all the major podcast directories, and our YouTube channel (links in comments). Thank you Cameron Andrews for joining on the show, and sharing the incredible tech you and your team have built! Bill Corsten Greg Stock David Paik Kathryn Kovalenko Aidan Andrews Raghavendra Nyamagoudar Nathan Ayers Chris Calder Jon Gallez Francisco Gimenez Perry Kaneriya, MD, MBA Patrice JC Nedelec 🇫🇷🇺🇸🇺🇦 Daniel C. Liem Samir Mehta Kaitlin Daugherty Mark D. Longo, Ph.D. Mike McCormick Ryan Dougherty Fred Ong Tanner Trombly Vijay Yeluri Adam Prater Alex Mc Vey #radiology #medtech #digitalhealth

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Based on what we've seen from the introduction of other technologies (digital and analog) into medicine and other industries over many decades, this is a dialogue/negotiation/argument that we're going to be seeing a LOT of in the coming years: Kaiser's nurses: "Human expertise and clinical judgment are the only ways to ensure safe, effective, and equitable nursing care," stated Cathy Kennedy, RN, a nurse at Kaiser Permanente Roseville (Calif.) Medical Center and a president of the state nursing association. "We know there is nothing inevitable about AI's advancement into healthcare. No patient should be a guinea pig and no nurse should be replaced by a robot." Kaiser management: "At Kaiser Permanente, AI tools don't make medical decisions — our physicians and care teams are always at the center of decision-making with our patients," the spokesperson said. "We believe that AI may be able to help our physicians and employees and enhance our members' experience. As an organization dedicated to inclusiveness and health equity, we ensure the results from AI tools are correct and unbiased; AI does not replace human assessment." I can't comment about the specifics of the deployment of clinical AI at Kaiser Permanente. However, I will say that the future success of healthcare outcomes will depend heavily on a successful negotiation of these differing perspectives between clinical professionals and "the bean counters."

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Indeed! our live panel can offer very actionable and tactical information to medical imaging decision makers.

Great way for Allurion Technologies to kick off #obesityweek with our largest ever RWE in over 19,000 patients. 12.2% weight reduction on average across 72 countries. Real-world outcomes are extremely important in determining efficacy at scale. This comes on top of the 26 peer-reviewed articles already published on Allurion. Onward! CC: Adrian W., Camillo Docimo, Paul Jouvet, Saleem Mustafa, Bruno Amaro https://lnkd.in/eJaER8an

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We’re going to disrupt every part of the clinical workflow. Really? A start up CEO said that to me once. A different one, Jim Biggins CEO of Access Vascular, Inc. said this, If you do disrupt clinical workflows that disruption needs to be matched or exceeded by the benefit of the innovation. In other words, it’s not enough to just have a proven product benefit. You’re also on the hook for any disruption you cause anywhere else in the workflow. Be careful about disruption.

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Sectors of the medical device industry are experiencing an incredible ramping of complexity that is not native to the market. We are in an early transition period that is showing signals of liability and entrenched thinking that are creating technology and financial liabilities for organizations. Imaging, Navigation, Artificial Intelligence, Robotics, AR / VR. The few organizations that are natively digital and their existence has been spent in hundreds of thousands of hours immersed in asking the questions, gaining the experiences, and acquiring the certainty of the knowledge giving them a head start that may be insurmountable. Being first is important. Being fast is also important. Being first and fast is devastating to the competition. To those that are not digitally native and are seeking to enter these markets, acquisitions of these technologies is certainly a beginning. Beware. Acquisitions are the purchase of product and information. Information is not knowledge. In acquisitions, those with the knowledge often flee. And the acquirer is left with only information and often mistakes it for knowledge. Bring information to a knowledge fight, and you lose. During this period of digital transition and acquisitions, the legacy device firms should consider… -             Starting stand-alone divisions that are independent of the mothership -             Acquisitions should be left alone and aggressively invested in and tribal knowledge should be massively economically rewarded with cash and tools to keep doing what they are doing. -             Stop creating compensation bands around the internal equity of your current structure. Choosing to prioritize salaries to be equitable no longer prioritizes excellence.

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