Value Dashboard™ Development Projects
Why Create a Value Dashboard?
No other methodology enables the same level of salient insights to support robust decision-making in medical technology, and early in the process.
Stewards of emerging medical technologies (founders, investors, sponsors, buyers, portfolio managers, etc.) face a mountain of uncertainty. With the way things are done now, activities like valuation, due diligence, monitoring, and setting milestones hinge on experience, experts, market reports, and “comps” (i.e., comparing to similar prior projects).
The problem?
Experience can be great for speed but doesn’t maximize value.
Experts often disagree.
Market reports may be right today, but forecasts are wrong.
Comps are rarely comparable, and don’t help with due diligence, monitoring, and milestones.
Smaller organizations often cannot afford even the leanest market access consulting services, and large organizations often find their expensive reports can undermine organizational efficiency.
The solution?
A model-based approach drives agreement through codified assumptions and correctly manages uncertainty.
Our proprietary model-based approach is a tool to bring confidence, strategic competence, and a learning mindset into project teams.
There are bigger, macroeconomic reasons to build a Value Dashboard. Untold value is left on the table when positioning insights are delayed until after clinical trials have started.
Benefits of a Value Dashboard
A Value Dashboard represents your value story in terms of unmet medical needs, stakeholder preferences, and cross-functional interests. It helps you scout for opportunities and threats while organizing seemingly limitless information. It learns as you do, both giving guidance to and validating your decisions as uncertainties are burned down.
The modeling process offers many benefits:
- Impart Structure. Some opportunity scouting teams have over 30 stakeholders and work over several months to compile boundless data. ‘Structure’ may emerge from talented strategists, but results may vary. Having an articulated structure can socialize a common lexicon, drive efficiency, and organize learning.
- New Perspective. A ‘systems’ approach forces modelers to see things from different views. Even lightly engaging with each view can build perspective-taking and broaden the aperture of the scouting team.
- Challenge Assumptions. Modeling involves coding, or codifying assumptions into explicit logical elements. This creates decision-making opportunities:
- Teams may need to acknowledge the magnitude of assumptions.
- Assumptions can be resolved through further research and testing, driving learning and agreement.
- Decisions can be made to avoid or reduce uncertainties, thus driving alignment and efficiency.
- Acquire the opportunity to challenge expert assumptions. If experts can disagree, then uncertainty remains.
How a Value Dashboard is Made
Our proprietary modeling methodology is built on three underlying processes and technologies:
- Value Scout™. We deploy our proprietary process of scouting medical technologies and quantifying unmet needs. Existing technologies and their performance in the standard of care are researched, documented, and codified into model design inputs that can be used to build a “Value Twin”.
- Value Twin™. Once we’ve researched and modeled the standard of care, we can then explore and model the options within your project, especially decisions may lead to value, as well as any competitor technologies. Uncertainties are also modeled, which results in a robust model of the decision space, i.e. a “digital twin” of your venture that we call a Value Twin.
- Value Dashboard™. Assuming you’ve scouted and modeled the standard of care and then captured your assumptions about how your emerging technology can serve unmet needs, the Value Dashboard is a custom user interface tailored to visualize the unique insights from your model.