Orthopaedic Innovation: From Inspiration to the OR (2021 Annual Meeting)-Orthopaedic Innovation: From Inspiration to the OR-Havig

Video Transcription

Video Summary

Dr. Ray shares insights on orthopedic entrepreneurship, emphasizing that practicing surgeons can successfully innovate despite busy schedules. He highlights the need for physician-led innovation in healthcare, as doctors understand system challenges firsthand. Ray co-founded OrthoFounders, a growing support network of orthopedic innovators creating devices and software solutions addressing issues like OR inefficiencies and direct-pay patient access. He stresses adopting the Lean Startup approach: build a minimum viable product, test with users, iterate, and get to market early. Starting a company requires legal setup, hiring capable teams (including non-technical founders hiring developers), and often significant self-funding. Ray underscores the long, challenging journey often taking years to generate traction but encourages perseverance, pointing out available resources like accelerators, entrepreneur groups, and specialty society support. Ultimately, entrepreneurship offers a rewarding professional challenge, potential financial gains, and benefits to patients and peers, making the demanding effort worthwhile.

Asset Caption

Dr. Michael Havig

Keywords

orthopedic entrepreneurship

physician-led innovation

Lean Startup

OrthoFounders

healthcare device development