For November’s Transformation Tuesdays content, we looked to the health ecosystem to see what’s capturing the attention of the innovator community. Robotics, as it turns out, is a topic our listeners are dying to discuss. With its increasing precision and futuristic feel, this technology is seeing integration in operating rooms all over the world – yielding improved outcomes for patients in a variety of scenarios. Its integration, however, has not been seamless – with expense and value proposition of these solutions under strict scrutiny. To learn more about these circumstances from those facing them head-on, we brought a group together to detail bringing innovative robotic systems to market.
On Tuesday, November 9, CEOs and leaders from cutting-edge robotics startups spoke to these commercialization hurdles in the COVID-19 era and shared additional insights as it relates to entering, and capturing this growing market. The group, containing Mark Barrish, CEO, Moray Medical, Lisa Carmel, Vice President Strategy, Ximedica, Eric Davidson, President, Flexible Robotics, Auris, Luke Hares, Chief Technology Officer, CMR Surgical, and Philip Rackliffe, CEO, Centerline Biomedica, also shared future predictions for the field, and areas ripe for innovation via robotic technology.
The focus, however, remained on what’s necessary for a startup, or any innovator, entering a budding ecosystem. Said Eric Davidson, President, Flexible Robotics at Auris, “I think it’s still early…I would say perhaps we’re in act two of a three-act play. We’re now seeing highly competitive spaces in robotics, and it’s only going to get more competitive as companies seek to become more specialized and meet an unmet need.” Davidson continued, “I think the key for the entrepreneurs out there is to be value-based in your approach. You have to be outcomes-oriented or get washed out in a competitive landscape.”
In COVID-19, this idea has only been emphasized as hospital systems everywhere are making conscious investments to ensure necessary support and supplies. Mark Barrish, CEO, Moray Medical, echoed Eric’s sentiments, “Cost and validation of value proposition are really the potential Achilles heels. In this next generation, there’s going to be added emphasis in not just using robotics to make the hard parts easy, but expanding the number of hard parts we can address with robotics.”
Increasing access to minimally invasive care and improving accuracy in surgery, robotics will make their plays in medicine for years to come. To watch the full discussion and learn more about robotics’ past, present, and future applications, click here. We want to thank Moray Medical, Ximedica, Auris, CMR Surgical, and Centerline Biomedical for their contributions to this wonderful discussion. We wish them all the best in their forthcoming commercialization efforts and can’t wait to see further refined robotic innovation.