“We spoke with James Bates, CEO of AdviNOW Medical, about transforming healthcare efficiency with AI. Here are the key go-to-market lessons from their journey:
→ Use engineering methods to uncover hidden opportunities. AdviNOW conducted Six Sigma analysis of medical clinics, revealing that physicians spend 2/3 of their time on tasks they weren’t required to do – a massive inefficiency traditional market research missed.
→ Target where profitability creates urgency. They focused on urgent care centers with “single digit EBITDA” margins rather than chasing large hospital systems immediately. This beachhead market had both acute pain and decision-making autonomy.
→ Turn regulatory complexity into competitive advantage. Instead of seeing healthcare regulations as obstacles, AdviNOW built them into their core value proposition, creating AI that handles both medical knowledge and compliance requirements.
→ Structure strategic investments for distribution. They brought in medical equipment companies as investors, creating natural distribution channels through partnership rather than building them from scratch.
→ Map the real incentive structures. AdviNOW discovered that insurance companies were incentivized to increase revenue due to profit caps – a crucial insight that shaped their solution design and positioning.
→ Position as enhancement, not disruption. Their messaging focused on augmenting physician capabilities rather than replacing them, creating an “everybody wins” narrative that accelerated adoption in a conservative industry.
These insights from AdviNOW Medical show how deep system analysis and stakeholder alignment can unlock opportunities in regulated industries.
Listen to the full conversation with James Bates on Category Visionaries to learn more about their approach to healthcare innovation here: https://lnkd.in/eznA7vVm”
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