Essay About Product Consisting Of The Following Elementscase And Pic

Treatment for Peripheral Arterial Diseases(pad).
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[pic 1][pic 2][pic 3]Create a “job spec” for this product consisting of the following elementsCase:  CV IngenuityFunctional, Social and Emotional jobs fulfilled?Functional jobTreatment for peripheral arterial diseases(PAD)Minimize the cost involved in getting the treatment at little/low riskSocial and Emotional JobDevelop a Drug Eluting Balloon(DEB) as a simpler, cheaper and more effective way of treating PAD which has affected 8-12 million people in the U.S.Alternative to existing technology i.e. Stent being used to treat PADWhat are the competing solutions that must be fired?Lutonix, Medtronic and AngioScoreWhat is the most important barrier to overcome for the product to be hired?Clearing the PMA process which was the most stringent device marketing application required by FDAWhat is the most important process that must be put in place to consistently fulfill the job?Clinical trials need to be fulfilled in order to keep up with the policy and regulations of FDAWhat is the most important job metric to put in place?Being a fast follower of previous firms and not repeating the issues/mistakes committed by themAnalyze the case using the “Six Forces” Model (13 points—7 for (b), 1 each for other elements)What Am I? Consumer Innovation – This is for the benefit of people who have PADSix Forces Alignment Players —Integrated systems who see potential in solving PADs via alternative solutionFinancing — Risk bearing entities would be paying for the cost of the product                Policy — Needs approval from FDA for the new deviceTechnology —Has the technology been clinical proven to assure it does not carry similar issues the earlier technology hadConsumers — Patients suffering from PADs have improved quality of life Accountability — Reduced cost of treatment of PADWhich are most critical and why?The key elements are Accountability and Policy – As both are the reasons as to why we have the entire innovation is being carried out. Unless there is an approval from FDA the product cannot go into the market for actual clinical trials.It is also important to maintain cost as existing technology was an overhead Market Size The end consumers are PAD affected patients – Market size is big, as every 1 in 20 American above age of 50 years suffers from PADPrice point is lower than existing technologyCompetitive strategy – Fast followers; avoiding mistakes done by competitors Financial Viability—what is their breakeven sales volume and market share?                   Proposed valuation – $20 Million Sustainability – Good R&D being carried out to ensure maximum impact for the treatment of PAD, Price is better than the earlier technology used to treat PAD diseaseManagerial Assessment – Good strategy; Focused on small technical team and 0% spend on marketing of the product. Multiple roles played by innovatorSelect one of the Innovator’s Discovery Skills and use it to enhance this innovation. (4 points)Questioning What does the product do? What are the advantages of using DEB over older technologies which were used to treat PAD?How many times does an individual have to take up this treatment during his lifetime if the patient has PAD?Are the precautionary measures taken that could lead to another disease?Does the patient have to avoid any activities after administering this treatment?