Research is the engine for innovation in healthcare. Clinical needs are at the core of our innovation process. Through continuous exchange with clinicians, research cooperations and an international academic network, medignition gains valuable insights into practical problems in medicine. medignition advises doctors, scientists and hospitals throughout the process of planning, implementation and publication of clinical studies. This enables medignition to comprehensively investigate a selected clinical problem. Dealing with it helps us to identify and understand the needs of one or more involved groups (e.g., patients and physicians). medignition publishes its research results in renowned scientific journals.
In clinical research phase, medignition is involved with a wide breadth of clinical challenges. In this second step, we examine the most promising approaches for technological feasibility and economic viability. This includes the quantification of the market, the scalability of a business model, clarification of the patent situation, and regulatory requirements. All this information is then combined and forms the basis for the decision as to whether medignition invests in an idea.
Next comes the implementation phase where medignition develops alone, or in close cooperation with its network of partners, an initial product version with enough features to satisfy early customers. Factors that contribute to our success with this phase include product management, technology and design. We systematically measure the feedback of existing features to understand their impact and plan future product development. For the operation of our digital products, we work together with infrastructure partners, in order to scale the software applications flexibly and meet the highest requirements in terms of security and data protection. Additionally, we further develop the business model and the responsible organizational structure. In most cases, we transfer the digital innovations into an independent legal entity. This is also the phase when external investors can first sign on to a project.
In this phase, medignition focuses on growth and seeks to scale a product. Our national and international health-care sector network helps guide us through the process of designing digital business models. These include the specific characteristics of a national health system, the regulation of medical devices, data protection and reimbursement mechanisms. At this stage, additional investors can also join in. medignition aims for a trade sale in this phase or remains actively involved in the development of an organization and the underlying technology.
We are convinced that healthcare products can only be successful when it’s the right mix of medicine, technology and business. This means that a viable product must solve a relevant medical problem, and also be technologically feasible and profitable. medignition integrates these three pillars into its innovation process, which consists of four phases.