{"id":7443,"date":"2020-04-27T13:13:06","date_gmt":"2020-04-27T13:13:06","guid":{"rendered":"https:\/\/www.kolabtree.com\/blog\/?p=7443"},"modified":"2020-10-12T10:33:28","modified_gmt":"2020-10-12T10:33:28","slug":"13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet","status":"publish","type":"post","link":"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/","title":{"rendered":"13 Proven Ways to Reduce Medical Device Time to Market (Cheat Sheet)"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_45_1 counter-flat ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69f249290c670\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69f249290c670\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_1_Understand_Design_Controls\" title=\"Tip #1: Understand Design Controls\">Tip #1: Understand Design Controls<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_2_Emphasize_upfront_research_and_planning\" title=\"Tip #2: Emphasize upfront research and planning\u00a0\">Tip #2: Emphasize upfront research and planning\u00a0<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_3_Develop_a_clear_Product_Requirements_Document\" title=\"Tip #3: Develop a clear Product Requirements Document\">Tip #3: Develop a clear Product Requirements Document<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_4_Understand_the_customer\" title=\"Tip #4: Understand the customer\">Tip #4: Understand the customer<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_5_Identify_customers_Needs_Wants\" title=\"Tip #5:\u00a0 Identify customers&#8217; Needs &amp; Wants\u201d\">Tip #5:\u00a0 Identify customers&#8217; Needs &amp; Wants\u201d<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_6_Arrive_at_a_regulatory_consensus\" title=\"Tip #6: Arrive at a regulatory consensus\">Tip #6: Arrive at a regulatory consensus<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_7_Know_your_target_market_geography\" title=\"Tip #7: Know your target market geography\">Tip #7: Know your target market geography<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_8_Understand_the_Purchasing_Decision\" title=\"Tip #8: Understand the Purchasing Decision\">Tip #8: Understand the Purchasing Decision<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_9_Conduct_an_intellectual_property_investigation\" title=\"Tip #9: Conduct an intellectual property investigation\u00a0\">Tip #9: Conduct an intellectual property investigation\u00a0<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_10_Carefully_plan_time_money_and_resource\" title=\"Tip #10: Carefully plan time, money and resource\u00a0\">Tip #10: Carefully plan time, money and resource\u00a0<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_11_Use_a_cross-functional_team_approach\" title=\"Tip #11: Use a cross-functional team approach\u00a0\">Tip #11: Use a cross-functional team approach\u00a0<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_12_Get_expert_help_when_you_need_it\" title=\"Tip #12:\u00a0 Get expert help when you need it\">Tip #12:\u00a0 Get expert help when you need it<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Tip_13_Avoid_dismantling_successful_Project_Teams\" title=\"Tip #13: Avoid dismantling successful Project Teams\">Tip #13: Avoid dismantling successful Project Teams<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/#Reduce_Medical_Device_Time_to_Market_Free_Reference_Cheat_Sheet\" title=\"Reduce Medical Device Time to Market: Free Reference Cheat Sheet\">Reduce Medical Device Time to Market: Free Reference Cheat Sheet<\/a><\/li><\/ul><\/nav><\/div>\n<p><em><a href=\"https:\/\/www.kolabtree.com\/find-an-expert\/thomas-williams?utm_source=Blog&amp;utm_medium=Source&amp;utm_campaign=MDTimetoMarket\"><b>\u00a0<\/b>Thomas Williams<\/a>, <a href=\"https:\/\/www.kolabtree.com\/industry\/medical-device\/?utm_source=Blog&amp;utm_medium=Source&amp;utm_campaign=MDTimetoMarket\">medical device innovation consultant<\/a> on Kolabtree, provides 13 tips to help you reduce time to market. Scroll to the end to see the free reference cheat sheet.\u00a0<\/em><\/p>\n<p><span style=\"font-weight: 400;\">Reducing the time to market in today\u2019s <a href=\"https:\/\/www.kolabtree.com\/industry\/medical-device\/?utm_source=Blog&amp;utm_medium=Post&amp;utm_campaign=MDTimetoMarket\">medical device<\/a> industry is a major challenge for both large and small companies. There are many ways to safely accelerate your product\u2019s time to market, and none of them involve taking shortcuts. This article is intended to help Medical Device Executives and Managers who want to speed up their product development cycle using a disciplined approach aimed at eliminating risk. Often risks are unknowingly built into projects in the early stages with disastrous consequences later. Following a disciplined, process-oriented <\/span><i><span style=\"font-weight: 400;\">Rapid Time to Market<\/span><\/i><span style=\"font-weight: 400;\"> approach more often wins the race to the market. Listed below are my top 13 tips.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_1_Understand_Design_Controls\"><\/span><b>Tip #1: Understand Design Controls<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the United States the process for developing new products is largely defined by the<\/span><a href=\"https:\/\/www.fda.gov\/media\/116762\/download\"> <span style=\"font-weight: 400;\">FDA\u2019s Design Controls<\/span><\/a><span style=\"font-weight: 400;\"> guideline. Take the time to understand Design Controls so that everything you do to develop your product also gets documented in the product\u2019s<\/span><a href=\"https:\/\/www.fda.gov\/emc-mdqs-page-21\"> <span style=\"font-weight: 400;\">Device Master Record<\/span><\/a><span style=\"font-weight: 400;\"> (DMR).\u00a0 By documenting your product\u2019s development to reflect the framework of Design Controls you are creating a roadmap for the evolution of the product\u2019s design.\u00a0 Taking this approach although seemingly daunting in the beginning ultimately pays dividends in time and money later when seeking the FDA\u2019s clearance to begin marketing your product.<\/span><\/p>\n<p>The FDA\u2019s Design Controls, however, should not be your only consideration for speeding your product to the market. Equally challenging is the discipline to perform the upfront work needed in advance of allowing Engineering to begin design and development activities.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_2_Emphasize_upfront_research_and_planning\"><\/span><b>Tip #2: Emphasize upfront research and planning\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Sometimes referred to as a <a href=\"https:\/\/sapioresearch.com\/tutorials\/what-is-market-opportinity-assessement\">Market Opportunity Assessment<\/a> this early <a href=\"https:\/\/www.kolabtree.com\/blog\/ensuring-reproducibility-in-ai-driven-research-how-freelance-experts-can-help-in-biotech-and-healthcare\/\">research<\/a> and planning is all too often overlooked in the rush to begin building out your DMR.\u00a0 The extra time you spend doing the upfront work to focus the scope of your project will serve to prevent it from straying off course and off budget later. Within the Market Opportunity Assessment process there are several tips that stand out as time savers.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_3_Develop_a_clear_Product_Requirements_Document\"><\/span><b>Tip #3: Develop a clear Product Requirements Document<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the most important documents in your DMR is the <a href=\"https:\/\/www.productplan.com\/glossary\/product-requirements-document\/\">Product Requirements Document<\/a> (PRD).\u00a0 This document is a compilation of several important research tasks needed to clearly define what the product is that you are planning to develop. The PRD should become the document that creates the \u201chand shake\u201d between the various project team disciplines.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_4_Understand_the_customer\"><\/span><b>Tip #4: Understand the customer<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Conduct market research into who the customers of this new product will be. In the world of medical devices there are usually several customers for a product to include the doctor, the nurse and ultimately the patient. Each of these customers will have different perspectives on a product. For example, the nurse may be looking for a product that will save her time while the patient would be more interested in the level of comfort the product provides. The doctor on the other hand may focus on improved clinical outcomes. Develop a persona profile for each customer that captures each of their specific requirements. <\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_5_Identify_customers_Needs_Wants\"><\/span><b>Tip #5:\u00a0 Identify customers&#8217; Needs &amp; Wants\u201d<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Toward developing a comprehensive Product Requirements Document is Tip #5 which is to identify in detail the \u201cneeds &amp; wants\u201d of the customers. These are the product features that your new product must deliver in order to convince your customers that you met and hopefully exceeded their expectations.\u00a0 The Advisory Board approach is common practice for discovering what customers are looking for in a new product.\u00a0 Focus Panels are also a frequently used technique for getting to this information.<\/p>\n<p>The Product Requirements Document is not complete however, until the crucial step of translating these \u201cneeds &amp; wants\u201d into engineering design criteria is complete.\u00a0 For example, the customer may want the handle on a new device to be easy to grip without slipping.\u00a0 The engineering design translation might be to include texturing the surface of the handle or using an alternative non-slip material to provide a better grip.\u00a0 One by one each of the \u201cneeds &amp; wants\u201d is matched to its design criteria until a comprehensive product design emerges first on paper.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_6_Arrive_at_a_regulatory_consensus\"><\/span><b>Tip #6: Arrive at a regulatory consensus<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the United States having an early consensus between the Food and Drug Administration (FDA) and your Regulatory Affairs Department will allow you to make better time to market. For example, if you can justify a \u201cletter to file\u201d approach to getting your product cleared by the FDA you will save a great deal of time versus having to take the 510k approach. In turn if you can avoid the<\/span><a href=\"https:\/\/www.fda.gov\/vaccines-blood-biologics\/development-approval-process-cber\/premarket-approval-pma-process-cber\"> <span style=\"font-weight: 400;\">FDA\u2019s Pre-Market Approval (PMA)<\/span><\/a><span style=\"font-weight: 400;\"> pathway by taking the 501k approach your time to market will improve even more drastically.<\/span><\/p>\n<p><strong>Also read: <a href=\"https:\/\/www.kolabtree.com\/blog\/13-mistakes-to-avoid-in-a-510k-submission-for-quick-fda-clearance\/?utm_source=Blog&amp;utm_medium=Source&amp;utm_campaign=MDTimetoMarket\">13 Mistakes to Avoid in a 510(k) Submission for Quick FDA Clearance<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_7_Know_your_target_market_geography\"><\/span><b>Tip #7: Know your target market geography<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Knowing in advance what regulatory requirements the product must meet in order to win approval from the various governing bodies around the world other than the FDA is Tip #10. Knowing in advance what countries your product is intended to be sold in will save you an extraordinary amount of time associated with going back over already completed development tasks just to meet unique approval requirements from other geographies such as the European Union\u2019s MDR\/EMA, Japan\u2019s PMDA, and China\u2019s NMPA.<\/span><\/p>\n<p><strong>Also read: <a href=\"https:\/\/www.kolabtree.com\/blog\/how-to-get-a-ce-mark-for-your-medical-device-eu-mdr\/?utm_source=Blog&amp;utm_medium=Source&amp;utm_campaign=MDTimetoMarket\">How to get a CE mark for your medical device<\/a>\u00a0<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_8_Understand_the_Purchasing_Decision\"><\/span><b>Tip #8: Understand the Purchasing Decision<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Key to your product\u2019s success will be understanding who and how the purchasing decision is made. In large healthcare organizations the purchasing decision routinely extends beyond just the doctor, nurse, and patient. For example, new product purchasing decisions are often required to be approved by a Clinical Review Board consisting of multiple disciplines including Finance, Purchasing, Infection Control, Quality Controletc.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ultimately however, the purchasing decision often hinges on an especially critical factor: REIMBURSEMENT. In today\u2019s Managed Care healthcare systems where managing the rising cost of healthcare often takes center stage,your product\u2019s success in the United States hinges on the <\/span><a href=\"https:\/\/www.cms.gov\/\"><span style=\"font-weight: 400;\">Centers for Medicare and Medicaid (CMS). <\/span><\/a><span style=\"font-weight: 400;\">Obtaining the necessary HCPCS code for your product from CMS allows insurance providers throughout the marketplace to be properly reimbursed for the use of your product.\u00a0 Without reimbursement the rate at which your new product will be accepted into the marketplace will be greatly reduced until you receive CMS approval.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_9_Conduct_an_intellectual_property_investigation\"><\/span><b>Tip #9: Conduct an intellectual property investigation\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In addition to the Product Requirements Document there are other critical considerations that need to be addressed early in the planning stages.\u00a0 Tip #7 is to perform the necessary due diligence of conducting an intellectual property investigation. Nothing will slow your time to market more than the late realization that your product design infringes on existing patents.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">Now is also the time to determine if your new product will contain any unique and patentable intellectual property of its own. Often the earlier and broader you make any new patent application the better protected your design will be.<\/span><\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Tip_10_Carefully_plan_time_money_and_resource\"><\/span><b>Tip #10: Carefully plan time, money and resource\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Your product proposal will likely not be the only project seeking approval from your company\u2019s Management. Be prepared to demonstrate the time, money and resources needed to get your product to the market along with a projected<\/span><a href=\"https:\/\/corporatefinanceinstitute.com\/resources\/knowledge\/finance\/return-on-investment-roi-formula\/\"> <span style=\"font-weight: 400;\">return on investment (ROI)<\/span><\/a><span style=\"font-weight: 400;\"> which ultimately drives many management decisions to proceed.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_11_Use_a_cross-functional_team_approach\"><\/span><b>Tip #11: Use a cross-functional team approach\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The 11<sup>th<\/sup> Tip for preventing your product development project from coming to a sudden stop is to recognize early in the project that you cannot do it alone. Getting a new medical device to the market in today\u2019s highly regulated environment requires companies to recognize that <a href=\"https:\/\/www.inc.com\/encyclopedia\/cross-functional-teams.html\">a Cross-Functional Team<\/a> approach is vital to the timely execution of a project.\u00a0 Too often companies will skimp on the assignment of people from important functional areas.<\/p>\n<blockquote><p>Perhaps the most common mistake is to neglect having a Manufacturing representative on the team. There is nothing worse than the project team thinking they have a \u201cfrozen design\u201d only to find out that Manufacturing cannot make the product!<\/p><\/blockquote>\n<p>This is also true for other forgotten functional areas that should have a \u201cplace at the table.\u201d\u00a0 For example, new products that require unique materials or components should include people from the Quality Control and Purchasing groups in order to meet production demand.\u00a0 Often when these other functional areas are consulted with late in a project it invariably leads to delays in time to market.<\/p>\n<p>Managing a Cross-Functional Team, often across geographies and time zones, presents challenges for projects. Recognizing the need to coordinate activities of the various team members is important to maintaining continuity of tasks.<\/p>\n<blockquote><p>Building and managing a Timeline that includes the activities of each of the functional areas creates a group awareness for where in the process a project is at any one time. Maintaining a project timeline also serves to keep the Management team informed thus providing them with opportunities to intervene if needed by reallocating resources in order to save time.<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Tip_12_Get_expert_help_when_you_need_it\"><\/span><b>Tip #12:\u00a0 Get expert help when you need it<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Not all companies especially smaller entrepreneurial ones have all the necessary expertise in-house to navigate all aspects of developing and launching a new product into the market. Even large companies that seem to be vertically integrated with all the functions needed can sometimes lack specific experience in new areas. This is where knowing when you need help can make the difference between getting your product to the market on time or being beat to the market by your competition.<\/p>\n<p><span style=\"font-weight: 400;\">In today\u2019s rapidly changing work environment a company\u2019s full-time W2 workforce can be easily supplemented with outside resources through contract employees and freelancers,\u00a0 The expanding<\/span> gig economy<a href=\"https:\/\/www.naco.org\/featured-resources\/future-work-rise-gig-economy\"><span style=\"font-weight: 400;\">\u00a0<\/span><\/a><span style=\"font-weight: 400;\">presents opportunities for companies large and small to benefit not only with faster times to market, but also the ability to lower development costs.\u00a0 <\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">For example, expert <a href=\"https:\/\/www.kolabtree.com\/find-an-expert\/subject\/regulatory-writing?utm_source=Blog&amp;utm_medium=Post&amp;utm_campaign=MDTimetoMarket\">regulatory affairs freelancers<\/a> with years of specific experience working with your local branch of the FDA can help greatly with just one favorable decision. <a href=\"https:\/\/www.kolabtree.com\/find-an-expert\/subject\/technical-writing\/?utm_source=Blog&amp;utm_medium=Post&amp;utm_campaign=MDTimetoMarket\">Technical writers<\/a> practiced in the art of writing clear and concise Instructions for Use is another hard to find expertise that can eliminate user errors. Whatever the need it is sometimes faster to seek the help from outside experts versus making novice mistakes associated with doing a job yourself.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">To conclude, the key to getting your product to the market as fast as possible should be clear. Doing as much of the upfront research and planning in advance of the physical designing, testing, validating, etc., will result in a more rapid time to market.\u00a0 It may seem counter intuitive but a rapid time to market strategy is essentially one that attempts to eliminate the roadblocks, setbacks, and mistakes upfront.\u00a0 Over the years successful medical device companies learn these truths often the hard way, and it is the exceptional ones that learn from these experiences by incorporating them back into a <\/span><i><span style=\"font-weight: 400;\">Rapid Time to Market<\/span><\/i><span style=\"font-weight: 400;\"> process.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tip_13_Avoid_dismantling_successful_Project_Teams\"><\/span><strong>Tip #13: Avoid dismantling successful Project Teams<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Smaller medical device companies such as start-up companies typically do not have this kind of historical perspective. They must rely on the expertise and experience of their teams.\u00a0 So, a final piece of advice for accelerating your new products to the market is to avoid dismantling successful Project Teams too soon. \u00a0Allowing successful Project Teams to remain intact to build off earlier successes will allow them to gain powerful insight into the development process, and to build speed in time to market.<\/p>\n<p>In today\u2019s world however, keeping your successful teams together for more than 2 or 3 years is difficult so even small entrepreneurial companies need to devise ways to preserve the institutional learnings from pervious projects. Therefore, the sooner you begin to capture and document your <em>Best Practices<\/em> the sooner your organization will build up a knowledge base of success that does not reside in any one individual\u2019s head.<\/p>\n<p>Finally, Management can now proactively provide guidance based on experience to help groom their young project teams long after their best performing teams have dissolved.\u00a0 Reporting to Management on a project\u2019s progress becomes more than just a review of the timelines.\u00a0 Now there is an institutional memory that Management can apply to create a more instructional exchange with their teams. Eliminating just one mistake in a project can alter its entire course. Replicating just one prior success can further speed your new product to the market!<\/p>\n<p><strong>This article has been written by Thomas Williams, a freelance medical device expert on Kolabtree. Contact him directly <a href=\"https:\/\/www.kolabtree.com\/find-an-expert\/thomas-williams?utm_source=Blog&amp;utm_medium=Source&amp;utm_campaign=MDTimetoMarket\">here<\/a> or <a href=\"https:\/\/www.kolabtree.com\/find-an-expert\/subject\/medical-device?utm_source=Blog&amp;utm_medium=Post&amp;utm_campaign=MDTimetoMarket\">see more profiles like his<\/a>.\u00a0<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Reduce_Medical_Device_Time_to_Market_Free_Reference_Cheat_Sheet\"><\/span><strong>Reduce Medical Device Time to Market: Free Reference Cheat Sheet<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-7467 size-full\" src=\"https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Reduce-Medical-Device-Time-To-Market.png\" alt=\"\" width=\"800\" height=\"2000\" srcset=\"https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Reduce-Medical-Device-Time-To-Market.png 800w, https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Reduce-Medical-Device-Time-To-Market-120x300.png 120w, https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Reduce-Medical-Device-Time-To-Market-410x1024.png 410w, https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Reduce-Medical-Device-Time-To-Market-768x1920.png 768w, https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Reduce-Medical-Device-Time-To-Market-614x1536.png 614w, https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Reduce-Medical-Device-Time-To-Market-120x300@2x.png 240w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><strong>Ready to reduce your medical device time to market? Get help from trusted medical device consultants and freelance regulatory writers on Kolabtree. <a href=\"https:\/\/www.kolabtree.com\/?utm_source=Blog&amp;utm_medium=Post&amp;utm_campaign=MDTimetoMarket\">POST YOUR PROJECT NOW<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Thomas Williams, medical device innovation consultant on Kolabtree, provides 13 tips to help you reduce time to market. Scroll to the end to see the free reference cheat sheet.\u00a0 Reducing the time to market in today\u2019s medical device industry is a major challenge for both large and small companies. There are many ways to safely<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.kolabtree.com\/blog\/13-proven-ways-to-reduce-medical-device-time-to-market-cheat-sheet\/\" title=\"Read More\">Read More<\/a><\/div>\n","protected":false},"author":12,"featured_media":7466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[443,540],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.1 (Yoast SEO v20.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>13 Proven Ways to Reduce Medical Device Time to Market (Cheat Sheet)<\/title>\n<meta name=\"description\" content=\"Experienced consultant Thomas Williams provides 13 expert tips on how to reduce medical device time to market. Also includes a reference cheat sheet.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kolabtree.com\/blog\/13-formas-probadas-de-reducir-el-tiempo-de-comercializacion-de-los-dispositivos-medicos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"13 Proven Ways to Reduce Medical Device Time to Market (Cheat Sheet)\" \/>\n<meta property=\"og:description\" content=\"Experienced consultant Thomas Williams provides 13 expert tips on how to reduce medical device time to market. Also includes a reference cheat sheet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kolabtree.com\/blog\/13-formas-probadas-de-reducir-el-tiempo-de-comercializacion-de-los-dispositivos-medicos\/\" \/>\n<meta property=\"og:site_name\" content=\"The Kolabtree Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kolabtree\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-27T13:13:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-12T10:33:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.kolabtree.com\/blog\/wp-content\/uploads\/2020\/04\/Medical-Device-Time-To-Market.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ramya Sriram\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@kolabtree\" \/>\n<meta name=\"twitter:site\" content=\"@kolabtree\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ramya Sriram\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"13 Proven Ways to Reduce Medical Device Time to Market (Cheat Sheet)","description":"Experienced consultant Thomas Williams provides 13 expert tips on how to reduce medical device time to market. 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