Healthcare is an interesting industry. And start-ups in that field are not just building their respective firms; they are joining hands in transforming their industry. Natera is one such example.
Providing cell-free DNA experimenting that can detect disease, Natera is a top-tier medical technology firm. They focus on organ health, oncology, and women’s health and have developed a noninvasive method for people to get informed about their health issues.
Over the years, this firm has reached notable milestones, learning to scale big while remaining within the demands of its field along the way. CEO Steve Chapman’s story about the firm’s journey from start-up to a leading one through medical innovation is inspiring.
It is highly significant to have a vision. That vision should enable someone to forecast where the market might be in the future, not just where it is today. They started using noninvasive prenatal testing (NIPT) technology, Panorama, almost a decade before it became accepted across the market.
The beginning of their vision was to enable every pregnant woman in the United States to be eligible for Panorama. The reason being, it can detect genetic abnormalities in just nine weeks of pregnancy from a simple blood test.
They studied more than 1 million subjects and validated their technology in almost 20 peer-reviewed papers to create clinical proof supporting the use of the product to gain adoption. It aided in obtaining support from prominent medical societies and national insurance enterprises, who now acknowledge their test for using it in all pregnancies.
Future entrepreneurs need to have a vision for their company as to where the company is going, how to hit significant milestones, and how not to give up. Acquiring a long-term vision can take a lot longer than what is expected.
They learned how to shift from a start-up to a leading company by executing processes and structure on how decisions are taken, how resources are utilized, and how research projects are handled. It helped them scale bigger, but conditioning their start-up culture to be agile in a competitive environment, yet a great place to work had aided them to win and propel through extremely rapid growth.
If the rest are looking to scale their companies, it is highly encouraged they seek chances where the initial idea can widen and become something bigger than what was in that blueprint.