Deductive reasoning lays the foundation of science, enabling hypotheses to be tested and theories to be proven. However, while X may lead to Y in a particular situation, the same logic cannot be applied universally. Take the clinical world; would you expect a similar methodological approach to result in each unmet need being addressed with appropriate attention and resources? Mr. Stan Lapidus, a renowned entrepreneur who founded multiple million-dollar life science companies, shed some light on this topic at a recent Scientia Luminary Session, where leading experts from the healthcare industry come and share their insights with the Scientia team. Through Mr. Lapidus’ Q&A session, it can be inferred that though deductive reasoning is often used to verify research studies, the same logic does not define how the medical world operates. What is clinically important, he argued, may often still be overlooked due to a lack of attention and resources. This is the reason why so many clinical needs remain unresolved and opportunities for entrepreneurs exist.
Linking scientific logic to clinical solutions is a difficult endeavor. Yet, this gap provides opportunities for entrepreneurial businesses to establish their value. One of Mr. Lapidus’ first businesses, Cytyc, was an attempt to address the high rates of false positives in cervical cancer diagnosis. He initially approached the issue by creating a mechanical visual reader—a method that appeared to be logically sound. Nevertheless, the reader failed to decrease the numbers of false positives— he and the current technology were “outclassed by the problem.” By keeping an open mind and “going beyond data to reach conclusions,” Mr. Lapidus eventually uncovered the underlying problem: slide preparation.
Mr. Lapidus’ experience with Cytyc demonstrates that an idea is only as good as its versatility. In a world where success rates are low for starting a diagnostic company and stakes are high, he cautioned that it is important to always develop multiple strategies instead of being married to one. When it comes to creativity and the allocation of resources, it is critical to avoid being restricted by data. For an idea to materialize into actual value, one must be willing to utilize multiple channels. After all, what is statistically significant is not always synonymous with importance.
Wouldn’t it be nice to assume that deductive reasoning can provide solutions to all of our problems? If so, all the complexities of the world would untangle themselves and it wouldn’t take ten great ideas to realize a business plan. However, as Mr. Lapidus reiterated throughout the discussion, in the real world what is clinically important is often scientifically overlooked, and what is statistically significant may not actually be meaningful at all. Therefore, the missing link between an unmet need and its solution is a facilitator— an individual who is committed to bridging that gap by expanding his/her vision beyond existing data. While methods derived from deductive reasoning are logical and straightforward, they are often impractical. Rather, true creativity and brilliance stem from a comprehensive approach that is nonlinear and even irrational at times. The combination of entrepreneurial spirit and the ability to remain objective just might be the ultimate key to unlocking the many intricacies of the healthcare puzzle. The healthcare paradigm is constantly evolving “to create equity in a time of scarce resources” through new regulations, reimbursement policies and innovative business models. As Mr. Lapidus forecasted, even the current genetic testing model of consolidated lab processing and data interpretation may gradually disentangle into separate entities. Therefore, maintaining a versatile and flexible entrepreneurial approach towards this constantly evolving healthcare paradigm will be necessary for continued success in the future.
Read more posts from Margaret Liao
