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A guide for medtech startups: What is ICD 10 or 11?

The International Classification of Diseases (ICD) is the foundation for identifying health trends and statistics worldwide and contains around 55,000 unique codes for injuries, diseases and causes of death. It provides a common language that allows health professionals to share health information across the globe.

ICD is a standard diagnostic tool created by the World Health Organisation (WHO), for monitoring the incidence and prevalence of diseases and related conditions.

The ICD has diverse clinical applications and is used not just by doctors but also by paramedic staff, insurance companies, researchers and policymakers. ICD is used to classify diseases and store diagnostic information for clinical, quality and epidemiological purposes and also for reimbursement of insurance claims.

What is ICD-10 or ICD-11
The ICD tenth revision (ICD-10) ICD eleventh revision (ICD-11) is a code system that contains codes for diseases, signs and symptoms, abnormal findings, circumstances and external causes of diseases or injury.

ICD purpose and uses
ICD is the foundation for the identification of health trends and statistics globally, and the international standard for reporting diseases and health conditions. It is the diagnostic classification standard for all clinical and research purposes. ICD defines the universe of diseases, disorders, injuries and other related health conditions, listed in a comprehensive, hierarchical fashion that allows for:

  • Easy storage, retrieval and analysis of health information for evidenced-based decision-making;
  • Sharing and comparing health information between hospitals, regions, settings and countries; and
  • Data comparisons in the same location across different time periods.

Uses include monitoring of the incidence and prevalence of diseases, observing reimbursements and resource allocation trends, and keeping track of safety and quality guidelines. They also include the counting of deaths as well as diseases, injuries, symptoms, reasons for encounter, factors that influence health status, and external causes of disease.

Also Read: [Updated] These 4 medtech startups will help you bust health myths during COVID-19 crisis

History of ICD
The first international classification edition, known as the International List of Causes of Death, was adopted by the International Statistical Institute in 1893.

WHO was entrusted with the ICD at its creation in 1948 and published the sixth version, ICD-6, that incorporated morbidity for the first time. The WHO Nomenclature Regulations, adopted in 1967, stipulated that Member States use the most current ICD revision for mortality and morbidity statistics. The ICD has been revised and published in a series of editions to reflect advances in health and medical science over time.

ICD-10 was endorsed in May 1990 by the Forty-third World Health Assembly. It is cited in more than 20,000 scientific articles and used by more than 100 countries around the world.

A version of ICD-11 was released on June 18, 2018, to allow Member States to prepare for implementation, including translating ICD into their national languages. ICD-11 will be submitted to the 144th Executive Board Meeting in January 2019 and the Seventy-second World Health Assembly in May 2019 and, following endorsement, Member States will start reporting using ICD-11 on January 1, 2022.

Why ICD-11 data is a natural part of modern healthcare
ICD data isn’t just about diagnoses. It’s data about the patients. That means physicians can focus on the data associated with the patients like their patients.

Hospitals are going to be able to use the data to analyse readmissions. That won’t be something they can avoid. Healthcare payers will be penalising hospitals based upon readmissions. They need to get a handle on readmissions. Medical practices and hospitals will need ICD-10 data to identify the details driving these costs.

ICD claims are a rich source of data. Data analytics does take effort and investment to manage. But technology has progressed to make it accessible to healthcare professionals.

Also Read: To fulfill its goal to improve biopsy process, medtech startup Lucence raises US$20M in Series A

Why ICD codes are important?
The significance of the ICD code system can be assessed from its application in various realms of quality management, healthcare, information technology, and public health.

1. The ICD code system offers accurate and up-to-date procedure codes to improve health care cost and ensure fair reimbursement policies. The current codes specifically help healthcare providers to identify patients in need of immediate disease management and to tailor effective disease management programs.

2. ICD-10-CM has been adopted internationally to facilitate implementation of quality health care as well as its comparison on a global scale.

3. Compared to the previous version (i.e. ICD-9-CM) ICD-10-CM is more specific and captures public health diseases, particularly diseases related to external injury, e.g. terrorism.

4. ICD-10 and 11 codes hold particular significance in research since code-analysis is an essential component of research and development. Code system and logic allows for fewer coding errors that ultimately benefit in the research and development analyses.

5. The upgraded version of the ICD code system enhances health policy decision making by providing better data for organisational monitoring and performance.

6. The ICD-10 and 11 coding system are more easily configurable and retrievable into electronic format offering better format than ICD-9, other codes such as SNOMED CT and CPT codes.

7. ICD-10 codes have specifically been developed for reimbursement purposes to offer a rational foundation for payment procedures.

8. Alphanumeric formats of the ICD-10 code system provide a better alternative than ICD-9-CM codes offering a more flexible and upgradable version e.g. diabetes mellitus – E10-E14

9. Lastly, the ICD-10 coding system helps to:

  • Reduce medication error
  • Improve treatment options and disease outcomes
  • Lower treatment and claim cost
  • In the health policy and operational and strategic planning
  • Improve payment systems through claims processing
  • Decrease claim submissions

The article was first published on nfinitiv.

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ZeusX to bring mobile gaming to the next level in 2020

ZeusX

It’s no secret that the video gaming market is a massive — and massively lucrative — space, with an estimated 2.5 billion video gamers enthusiastically picking up their consoles or tapping at screens and keyboards worldwide. 51 percent of gamers play using their mobile phones, thus dwarfing the numbers for all the other gaming consoles available in the market.

Avid gamers are more than willing to spend money on virtual gaming success and a chance to be unique. Others seek avenues to monetise their gaming skills and efforts, evidenced by the vast number of live streams that gamers broadcast and watch on platforms like Twitch fueled also by the rise of professional eSports. All this money floating around means the global online gaming market was worth US$150 billion in 2018.

Almost 50 percent of the market’s revenue comes from mobile gaming, which accounted for an estimated US$68.2 billion. Contributions from mobile gaming are projected to grow over 10 percent year on year. And there is a secondary market that has proven itself to be very lucrative — the market for gaming accessories, virtual items like skins or currencies, and the like all have a potential of 500 million active users seeking new ways to stand out from the crowd. For example, you could buy a custom outfit for a video game character for US$500.
zuesx
Toppling would-be tricksters in the game

As popular as mobile phone games are, there are a number of issues players frequently come across when interacting with its products and services. For instance, gamers who wish to purchase products and services to improve their gameplay or skills often have to trade on forum platforms like Reddit, where no protected verification or transaction systems are available.

Gamers trading on platforms like these are more at risk of getting conned as they have difficulty verifying accounts that sell the products and services. The lack of transparency is worrying for many gamers and neither party has a method for verifying if the offer or payment is genuine, it creates a barrier from successful transactions.

Gamers would greatly benefit from a trusted platform that bridges buyers and sellers and would be empowered to further enjoy their gameplay, even more, knowing their transactions are safe and sound.

The market needs a space that can verify and establish credibility when it comes to such purchases. A platform that can provide competitive rates and loyalty rewards to buyers would undoubtedly attract gamers from all over the world to invest more in their gaming enjoyment and success, while protecting them from scammers and other malicious personalities.

ZeusX machina to the rescue

zeusx
ZeusX is a mobile-first, premier service positioned to fill that gap in the gaming market. It’s a one-stop online trading platform for gamers to exchange gaming services and virtual products: accounts, in-game items, skins and currencies, and professional services. It is available to gamers all over the world and aims to be the top secondary market leader in Mobile Games, eSports, and Gaming Gigs, or Services.

ZeusX was created by Alex Tay who has 16 years of experience in business transformation, technology, banking, and insurance, having headed some of the largest insurance industry initiatives in Singapore and has held senior management positions in leading financial institutions. His passion for gaming began at the age of 9, and now he is marrying it to his business and technology expertise with ZeusX.

zeusxAlex created ZeusX to take the guesswork and fear out of transactional processes and act as a trusted intermediary to both buyers and sellers to allow them to trade with confidence.

“ZeusX is much more than a technological advancement for gamers. We want to build a global exchange and help millions of our fellow gamers to create a better life for themselves and find more joy in their gaming passion. It can be monetization of their efforts, time and skills or simply getting a rare and powerful item/skin which maximizes their enjoyment. ZeusX is not just for eSports athletes or gamers seeking to enter professional arenas, but for anyone and everyone who games as part of their day-to-day lives.” says Alex on his vision for ZeusX.

By utilising established trading and transactional practices from the financial and e-commerce sector, and incorporating technology to match the right buyer with the right seller quickly, ZeusX aims to solve a myriad of problems for gamers and provide a hyper-personalised experience over time to ensure each gamer feels their unique personalities are catered to. Social media and popular gaming tools will also be integrated within ZeusX, allowing gamers to connect and create communities of their own.

Gamers can now access ZeusX on mobile phones in Android as well as web browsers in English. As the platform focuses on catering to mobile phone gamers, users can expect a seamless, information-rich experience on the apps centered around modern e-commerce storefronts that will bring items of interest to the user’s attention.

Keen to bring your passion for gaming to the next level? Visit their official site here or search for the ZeusX app in your Google Play Store now and see what the fuss is all about!

– –


This article is produced by the e27 team, sponsored by 
ZeusX

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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A case for businesses leading healthcare digital transformation

 

health

According to the World Health Organization (WHO), non-communicable diseases account for 71 per cent of deaths worldwide. Tens of millions, in developed and developing countries, are suffering from these diseases, that could cost the global economy US$47 trillion by 2030, the World Economic Forum (WEF) has estimated.

Digital transformation in the healthcare sector is seen as one of the ways to make people healthier and reverse this trend of devastating non-communicable diseases and harmful lifestyle choices.

For medical providers, with numerous costs and other burdens, digital healthcare surely is one of the most effective business cases that can be made. Poor health and choices cost money and lives. A population able and proactively making smarter health choices will cost less, live longer, and live healthier lifestyles.

Whether implementing directly or supporting the use of, medical providers can make a huge impact on the use of digital tools, apps, and platforms. Here are five ways to encourage and make the business case for a healthcare digital transformation.

Wearables

An enormously popular, consumer-driven market already exists for wearable products. From Fitbit’s to iPhones that record health stats, millions of people around the world are recording and sharing health data in real-time.

Also Read: Report: Preventive healthcare, manufacturing will be the key to China’s AI development

Where there is a business case to be made for healthcare providers is the value of connecting this into the patient management process. Doctors and medical teams can proscribe drugs, treatments, and lifestyle changes; but until recently, there has been no way of monitoring whether a patient is taking the advice of a medical professional.

Patients told to walk, run, go to the gym, eat less, smoke, and drink less don’t always take that advice, often with negative health impacts and therefore, further costs and strain placed on medical systems and providers.

With the right digital systems in place – and patient consent – doctors could collect lifestyle-data from wearable devices and technology to monitor patients’ progress and make sure they’re taking positive steps (sometimes literally) to improve their health and lifestyle.

This way, medical providers would have a clearer idea who might need more treatment and therefore make it easier to allocate resources, medicines, and other medical courses of action.

All of this comes with a financial impact for medical providers. One way to make that financial impact on patients is that those with wearable devices could take out medical insurance that rewards them for making positive lifestyle choices, thereby providing further incentives.

Also Read: What healthcare transformation in Asia will look like in 2020

Genomics

Human genomes have been mapped. As have millions of species of plants and animals. We have a much clearer understanding of the genome than ever before.

With increased and enormously enhanced computing power – such as machine learning and AI – we are getting closer to being able to modify and defeat diseases at a genetic level, preventing them from emerging and spreading.

Long-term investment is needed and medical providers and drugs companies should continue to work together to understand how diseases such as cancer are evolving, then find ways to prevent and cure them at a genetic level.

Long-term benefits for medical providers mean that these diseases should become less common, and therefore allowing money to fund other treatments and preventative cures.

Big data in medicine

Big data is everywhere and in the medical sector, there is an enormous amount of data available.

Big data in healthcare

What we do with all of this data is the main challenge. How it’s used, how medical providers, drugs and insurance companies interpret the data that decides how useful – or not – innovation in this area proves.

Also Read: What healthcare transformation in Asia will look like in 2020

Between wearables and platforms that contain patient data on treatments, there is more than enough information to create a 360 view of millions of patients.

With the right tools and platforms in place – some of which might still need to be built – access to this data in near real-time would give doctors the ability to provide more effective treatment and therefore reduce long-term costs for medical providers and those funding them.

Fighting disease with genetic engineering

Other diseases are not lifestyle choices. Fighting malaria and the Zika virus required a more innovative solution than traditional approaches allowed. Using genetically-modified mosquitos, scientists and health organisations are able to reduce the deadly spread of these diseases.

Advancements in genetic technology, like genetic sequencing and synthesis, are currently helping to fight the coronavirus epidemic.

This is another way of effectively reducing the impact – including the cost – of deadly outbreaks that can kill millions. A business case should always be possible to create around preventing every death we can.

Fighting misinformation

In the US and Europe, a growing risk to babies, children, and teenagers is a movement of misinformation against the dangers of vaccines, commonly known as “anti-vaxxers.” The WHO has identified this as one of the top ten global health threats in 2019.

Similar to a disease, misinformation and outright lies spread through social networks, and the media about the impact of vaccines is causing real risks to millions around the world.

Also Read: Caregiving provider Homage secures Series B funding from EV Growth, to launch personalised healthcare service

Governments and medical providers need to continue to fight this spread of misinformation, otherwise, we risk diseases coming back that have not caused problems for humanity since the Victorian era.

Poor health, choices, and a lack of the right information costs lives and increases costs for medical providers. We have the tools, resources, and data to make real, lasting improvements to the overall health of humanity.

Making the business case around digital transformation means putting the most effective tools and systems in the hands of doctors, nurses, healthcare providers, and patients to improve the choices they make and therefore the outcomes of preventative treatment and traditional approaches to medicine.

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4 expected transitions of online payments in Asia in the next five years

e-payments

Along with the impact of COVID-19 causing social distancing globally, the booming of the e-commerce market seemingly dives the rapid adoption of online payment.

The industry faced rapid-fire consolidation, rising omni-channel commerce, and a wave of new competitors, particularly IT companies. In which, cash might be no longer the standard method for purchasing activities in favour of e-payment. We will show you the e-payment trends, which will build its empire in Asia in the next five years.

2019 had witnessed the mighty domination of Tech titans in several market industries. Additionally, the penetration of tech companies in the payment and e-commerce market causing aggressive competition among players.

Consequently, both startups and giants across the ecosystem have to attempt solutions and strategies to fight.

On the other hand, the healthcare crisis (i.e coronavirus) spread a gloomy colour in the picture of the vulnerable economy in Asia.

In an optimistic perspective, it might make an enormous transformation in purchasing behaviour in favour of online channels. Asians currently prefer automatic payment more than ever, which reduce the rapid spread of this disease through direct communication.

We draw four expected transitions that dominate the Asia payment market in the next five years, including POS financing, contactless payment, real-time payment, and autonomous checkout.

E-commerce giants leverage POS financing

Western countries have been entering the mature phase of POS financing sectors, which their citizens become familiar with noncredit finance in purchasing. Especially for POS lending, Western customers currently have the chance to request the instalment loans for their order.

This type of consumer finance is constantly growing along with technological advance as well as the booming of the fintech industry.

While Visa and Mastercard keep its presence, the integration of several digital upstarts and retailers lights up the market. In which, Paypal Credit and Affirm tend to be two particular examples.

On the other hand, major areas in Asia remains underdeveloped in POS financing. The season for this situation related to roundly 43 per cent of ASEAN fintech focuses on digital payment and e-wallet, while only 8 per cent go with POS lending.

However, the Asia market will see the dramatic transformation in 2020 when e-commerce giants expectedly take on space.

In Q1, 2020, Shoppe and Lazada (owned by Alibaba) have acquired digital banking licenses to start offering digital lending across SE Asia. Alternatively, some other startups choose to form a partnership with banks and fintech firms to share the POS financing risk to its provider.

Also read: 4 ways digital payments are helping businesses thrive amid a global recession

With the growth of alternative credit purchasing, the e-commerce market in SE Asia is anticipated to be marvellous growth in the next five year. S&P Global research predicts that ASEAN 6 will significantly increase by nearly 90 per cent of online sale from 2019 to 2022, which expectedly reach America data.

This trend is seemingly similar to the strategy of Amazon, which is e-commerce giants in the US but less presence in POS financing. Amazon decided to collaborate with Zip (Australia) and Paidy (Japan) to offering experimental POS financing in this market before spreading it to the whole system.

Contactless payment will be the mainstreams but not in 2020

Obviously, Asia Pacific has more potential to pursue carless payment than any other areas due to the highest ratio of smartphone owners. The rapid growth of mobile payment foresees the future of ubiquitous contactless payment in the next five years.

Not only for users, but government systems also get benefit in adopting cashless since it promises the more effective of managing monetary policies.

As powerful support from regulatory sectors, mobile payment will draw the perspective of pure cashless across Asia. According to Global payment submit, regulatory push promises to grow the mobile payment market by about US$72 billion until 2021. Besides, the threat of spreading COVID-19 through contacting with surface encourages the use of contactless payment.

However, contactless payment cannot be ubiquitous in the early of this decade despite lots of effort from several sectors. Why? The main reason is the lacks of vehicles to show customers where they can find the merchants accepting contactless payment. This uncertainty let consumers carry another payment method in checkout.

On the other hand, consumers still do not have a sensible motivation in using contactless payment. They concern more on securities and data privacy rather than the speedy payment. In fact, the technological flaws currently keep the users far from completely adopting contactless payment.

Real-time payment in B2B market

Real-time payment (RTP) scheme might not be a novel concept these days. The presence of RTP or fast-payment was initially in South Korea 2001, along with the e-banking system’s foundation here. Currently, the majority of RTP in the market only supports to low-value transactions, made from individuals.

In fact, according to PromptPay, an RTP platform in Thailand claimed that roundly 85 per cent of its transactions was less than US$200. Meanwhile, 80 per cent of RTP transactions in India reported to below US$20.

In B2B business, the massive payment amount induces substantial risk for both payers and receivers, which require a series of valid documents. This situation has a sign to switch in 2020 when the electronic signature is gradually becoming more popular.

In 2019, Giants card networks like Mastercard and VISA officially launching their RTP services across space in both B2B segments for the UK market. Particularly, Mastercard has committed to offers a set of RTP technologies globally, including the Asia Pacific.

It will provide payment application APIs, allow local bank apps becoming RTP apps without relying on the third-party apps. Especially, it can process a large amount of payment on a real-time basis.

From 2020 to 2025, several Asia countries, including Thailand, Vietnam, Indonesia, are expected to finalise their regulation regarding fast payment in favour of supporting B2B transactions. In which, credit intuitions can start developing RTP platform for B2B sector.

Growing autonomous checkout in stores or groceries

Recently several companies employ computer vision, sensors, and other tracking technologies for supporting autonomous checkout for groceries, which allow customers to pick items and pay without stopping in front of cashiers. Additionally, retailers also deter the threat of product stolen by leveraging these technological advances.

Likely to card payment methods, autonomous checkout will reduce both time and effort by accepting payment automatically after consumer identify themselves via a profile. In a business perspective, companies might take tremendous advantage from detail payment information, that consumers need to complete and save their profile before entering a store.

In Asia, a survey done by 5,000 consumers found that roundly 45 per cent of respondents are willing to switch from traditional in-store purchase to automation payment. That number for urban. That numbers for urban citizens and millennials are 55% and 58%, respectively. Additionally, that number in India (79 per cent) and China (85 per cent) are proved the dramatic adoption of autonomous checkout in these regions.

In 2020, Asia Pacific is projected to increase by 15 per cent at the CAGR of self-checkout systems among convenience stores. In which, Artificial Intelligence (AI) in autonomous checkout is claimed to drive the market.

In April 2019, Seikatsu Saika had trialled a novel AI-based self-checkout system in one store in Tokyo. Currently, this technology has started to massive apply in more store chains.

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Things to consider before you build a profitable SaaS MVP

Today’s technology is immensely geared up to help small and medium-sized businesses succeed. There has been a radical change in the way things have been functioning. With the onset of cloud technology, a lot of conventions have been replaced with contemporary tools and techniques.

One such profound contribution is from the SaaS sector. Eliminating the need for businesses to develop and maintain a software application for their distinct purposes, these Software-as-a-Service companies offer their applications for a fixed price or subscription plans. This allows businesses of all sizes to tailor the application to their requirements and make the most out of the tool.

The other side

If you’ve used tools such as Dropbox, Salesforce, Hubspot, Google Tools and more, you are already familiar with the SaaS technology. And if you’re someone who has identified a crucial business potential in this sector and looking to launch a reliable SaaS product, there are a few things you should consider first.

While statistics would reveal and shed light on the most successful SaaS service providers and that it is a billion-dollar market, you should also look at the other side of the spectrum. For every successful SaaS company, there are a lot of companies that experience a very slow growth rate.

At this point, it is important to understand a term called churn rate, which indicates the number of subscriptions that are terminated over a period of time. Companies that fail have a churn rate higher than their growth rate.

Also Read: Taiwanese SaaS startup mlytics ensures your website never faces internet outage due to cloud failure

To throw some more light on this, understand that:

The primary inference here is that even the best SaaS providers would lose subscribers every month. This could be because of competition, redundant features, pricing and more.

However, there is a stark difference between losing a customer and not gaining one at all. That is where most newer SaaS companies mainly fumble. As we mentioned, the market is cluttered with SaaS products with each offering attractive pricing plans and features.

So, in this clutter, how do you find out if there’s space for your SaaS product?

How do you know if the product you roll out would have takers?

Also Read: Customer churn analysis: How can startups get it right?

Do the features you have in mind add any value to your target audience or should you fill the gap between what they require and what you offer?

To answer these questions, you should test the water before you dive in. That’s why we firmly believe in rolling out an MVP for your SaaS products to gauge its stand in the market.

This is a litmus test your product would go through and the results would enlighten you on the actions you should take in developing a full-fledged SaaS product.

So, gear up to find out the fundamentals of building a SaaS MVP

The fundamentals of building a SaaS MVP

One of the primary reasons why certain SaaS companies fail is because they don’t think from a customer’s perspective. When a founder has an idea, the immediate stage is an assessment of the market, competitor analysis, probable valuation, and product development.

Little or no attention is paid to understanding what the target audience wants, the problems users face, whether the existing solutions resolve concerns and more. Even user persona assessment is vague, where the focus is mainly on getting the product out.

This haste will only backfire as you do not just have a half-baked product but an idea. One of the companies that took the ideal approach is Buffer, the popular automation app for social media.

Also Read: Five cornerstones to SaaS startup capital efficiency

When the idea happened, an MVP was created with a flow and tested. When it failed, the founder collected the email addresses of his subscribers and started talking to the users.

As he spoke more, he understood what features worked and what did not, the areas that required more attention and more. It was after all this that the product was finally rolled out.

Product features

Talking to your initial subscribers (testers and first circle contacts) would give you immense insights into what the market requires in terms of a new SaaS product. You have a clearer idea about your product and how it would look and function. You might also realise that the idea in mind would no longer make sense as the demand is completely different.

Once you have the ideas and points in mind, the approach now is to decide on the features that your product would offer. This depends on your product’s market, niche, persona and all the insights you have gathered.

If it is a CRM, you would understand that a pain point is segregating contacts for targeted campaigns and more such insights. Coming up with a product roadmap is ideal to get your features organised for your MVP.

Doing so will not just give you clarity on the functionality and efficiency of your MVP but help you have better control of its development and progress at any given instance of time.

Also Read: Golden Gate Ventures, Modalku invest in Indonesian accounting SaaS startup Paper.id, targeting SME’s bookkeeping digitisation

Develop the core feature first

“Feature creep” is a term that refers to the tendency to add several features during the development stage. It happens when you are either aim for perfection or are insecure about your product. Regardless of what it is, this is lethal to your product, especially your MVP.

When you start building your MVP, it’s easy to get deviated and consistently add new features. But the whole point here is to test your idea and see if it works. It is not about showing off your product like in the case of a trialware. As you keep adding features, you tend to lose focus on the primary feature that defines your MVP or product.

It gets cluttered and what was supposed to be an elegant solution is now a tool of chaos. So, the ideal approach here is to first develop that core feature of your MVP and get it out of the way. To avoid feature creep, ensure that:

  • The features you think of add value from a customer perspective
  • A feature has a demand in the market or is requested by users on public platforms
  • You distinguish between essential and good-to-have features
  • You never deviate from the usability of your product

Launch The MVP

It is called an MVP for a reason. The whole point is to learn about your idea through the MVP. If you have developed your idea’s core feature, understand that it’s ready for launch. The problem with most founders and owners is that they tend to keep adding features or develop their MVPs even after the rollout. You do not have to focus on its development after you have launched your MVP.

Also Read: Shopmatic acquires SaaS multi-channel e-commerce platform CombineSell, rounding out its seller management offers

Now is the time to find ways to get more traction to your MVP because the more the testers, the more the feedback. And the feedback and criticism you get for your MVP will help you develop a better product.

So, some of the ways you could get traction are by engaging on some of these activities:

  • Blogging about your industry or niche and conveying how your MVP is designed to fill the gaps
  • Hosting or being part of a relevant podcast
  • Personally reaching out to your target audience
  • Using relevant social media to build a brand and generate buzz
  • Making the most use of your first circle of contacts
  • Reaching out to startup aggregators and more

Developing and launching an MVP is a crucial stage in running a business that defines your venture’s future. You could be patient and learn at this phase so your product is future-proof or you could be hasty and make a mistake that could cost you your business.

Groove, for instance, lost over US$50,000 because it ended up creating the wrong product. It kept adding new features and lost its way of delivering what was required the most by consumers. It took a lot of effort and insights from MVPs to launch the right product with the ideal messaging.

So, if you’re launching a SaaS product, get started with an MVP. 

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