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Owner Doug Fabbioli discusses the challenges of marketing and distribution for their agriculturally based local business.
How can we build an efficient plan for our offsite presence while managing our costs?
Anne Tucker, Tasting Room Manager, discusses the strategies of dealing with workplace conflict at Fabbioli Cellars.
How can we better address the employees that are picking on the new (younger) recruits and make sure they understand and respect the new rules, expectations, and duties?
Owner Doug Fabbioli discusses the start-up process, income/outflow fluctuation, and future plans for growth of Fabbioli Cellars.
How could I build a relationship with a financial partner that could evolve into total ownership of the business as I get closer to retirement?
Meaghan Tardif, Senior Manager of Fabbioli Cellars discusses current marketing strategies for products as well as ideas for future marketing strategies.
What is the next magic product to catch the younger crowd’s attention that could also be a bridge to nurture and build a longtime wine lover?
Doug Fabbioli, owner of Fabbioli Cellars, discusses collaboration between businesses in the community.
How can we teach the mindset of collaboration in order to build a strong community in which all of our businesses succeed, both individually and as a group?
The Chief Product Officer discusses the process and challenges of expanding into global markets while protecting patents.
“Who is going to counterfeit us, and what low-cost protections can we employ to protect ourselves in key markets?”
The Otolith Labs culture is one of relaxed professionalism and mutual respect. The organization’s approach to time off, medical leave, vacations, and the like has been entirely ad hoc and informal.
As the company continues to grow, at which inflection points should greater amounts of structure be put in place?
The Otolith Labs medical device is suitable to treat conditions ranging from vertigo to motion sickness. As Chief Product Officer, Akers is focused on which conditions to target first. Should he go after the one with the largest market—motion sickness? Or should the company pursue the market with the highest pain point and highest price point, which is vertigo? And how does he best reach prospective patients when he first must build awareness among the physicians who prescribe medical devices?
What legal marketing efforts can be taken to attract these patients and inform them of Otolith Labs' technology prior to FDA clearance for their specific conditions?
Otolith Labs could use some revenue at this point, but it will need more time to secure FDA approval as a medical device. In its fourth year, Otolith Labs is still a year away from generating revenue. Once the company is FDA approved, it may be acquired. The device also has market potential in the consumer arena. Otolith Labs can move much more quickly with a consumer-oriented partner such as Sony or Oculus, who could integrate their technology into headphones or cars. Taking this path might lead CEO Owen and his team to license or even sell the technology to a consumer-oriented company.
Payor reimbursement is critical to the business model of a medical device company. The gold standard for reimbursement is a CPT code that assigns a fixed number of Relative Value Units (RVUs) to a device, which then must be adhered to by all payors (i.e., negotiation occurs once). An HCPCS code is much easier to get, but reimbursement must be negotiated with each insurance company individually. Ultimately, the question at hand is: what is the best path forward for Otolith Labs post-FDA approval?
“Which type of code should we lobby for, and when does the lobbying effort begin?”