Business lessons from Steve Jobs (Best of MedCitizens)

This week's life science current events from medical bloggers include business lessons from Steve Jobs, lessons on venture capital investing from a failed deal, and an EHR project manager's confessions.

Every week, MedCity News highlights the best of its MedCitizens: syndication partners and MedCity News readers who discuss life science current events on MedCityNews.com.

Now here’s the best of what YOU had to say:

Steve Jobs’ business strategy applied to health information exchange. “Steve Jobs made these remarks at MacWorld 1997, a few months before becoming Apple’s CEO. He outlined a simple go forward plan: 1. Board of Directors; 2. Focus on Relevance; 3. Invest in Core Assets; 4. Meaningful Partnerships; 5. New Product Paradigm. How can we apply these 5 ideas to the work we’re doing in HIT?”

A lesson on the venture capital investing process. “That’s not to say that all, or even most, venture firms aren’t as good as their word. But in the real world, deals fall through all the time, and for myriad reasons, as Fishkin’s story spells out all too clearly.”

Egg on my beard: EHR project manager confessions. “I’m sorry for every time I took the company’s side against a ‘problem client’ when I knew it was our fault. I’m sorry when I sent inexperienced trainers to teach a cardiology practice how to use our complicated software. I’m sorry for all the times I looked a client in the eye and pledged I would work to resolve a problem when I knew it would never be fixed. I’m sorry I didn’t stand up to management and in a loud and clear voice say that our sales team was misleading clients.”

Clinicians and medical device makers — a match made in healthcare heaven? “It makes great sense for therapeutic companies to collaborate with academic medicine, so why not medical devices.”

FDA accelerated approval makes for an expensive rare lung cancer drug. “What does it mean when a drug earns ‘accelerated approval’? Unfortunately, too many people think this means that it worked so well that the FDA rushed it to market. That’s not how it works. Accelerated approval, which really should be called interim approval, is reserved for drugs that show promise for treating life-threatening diseases like lung cancer, which is the best way to describe Xalkori.”

Deanna Pogorelc is a Cleveland-based reporter who writes obsessively about life science startups across the country, looking to technology transfer offices, startup incubators and investment funds to see what’s next in healthcare. She has a bachelor’s degree in journalism from Ball State University and previously covered business and education for a northeast Indiana newspaper.

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