Dr. Robot – How Value Innovation Revolutionized the Medical World
Biotechnology Innovation: Doing More with LessTheme: Case study of Intuitive Surgical’s da Vinci robot from a blue ocean perspective.
Summary: The authors discuss how blue ocean strategy and value innovation logic enable companies to overcome boundaries and create new market spaces. They offer a case analysis of Intuitive Surgical, the company that revolutionized minimally invasive surgery within the specific field of endoscopic surgery, and the medical field in general. Equipping surgeons with 3D-HD visualization, complete dexterity, precision and comfort, Intuitive Surgical’s da Vinci surgical robot was an offering previously unseen by the industry. From a patient perspective, the machine eliminates factors that inhibit recovery time as well as additional compromises and discomforts such as pronounced surgical scars. It raises surgical efficacy and patient outcomes while reducing setbacks associated with traditional laparoscopic surgery, thereby intriguing surgeons and attracting patients regardless of the price. The authors show that Intuitive Surgical was not constrained by the resources it possessed, collaborating with experts from all around the country, including professors from top universities. The authors show how value innovation and the four actions (eliminating, reducing, raising and creating) have proven to be highly effective frameworks for Surgical Intuitive, and further suggest that these techniques can be applied to supplementary and newly-emerging markets for future products and services in the biotechnology sector.
Reference: Crego, Adam. “Dr. Robot - How Value Innovation Revolutionized the Medical World.” In Biotechnology Innovation: Doing More with Less, edited by Lawrence Husick and Ed Addison. Baltimore: Johns Hopkins University, 2011: 96-106.