A mission statement is a concise and meaningful declaration of an organisations main purpose. Purpose is a critical component healthtech companies can utilise to attract top talent and differentiate against the wider technology industry – a mission statement helps to clearly articulate this. It also serves as a guiding principle for both internal employees and external stakeholders, providing a clear overview of what the company wants to achieve.

Why is a Mission Statement Important in HealthTech?

In the fast-paced world of healthtech, having a clear mission statement is crucial to success. A mission statement serves as a roadmap for decision-making and helps the company prioritise its efforts. It also acts as a source of inspiration for employees and stakeholders and helps the company stay focused on its purpose. Moreover, a well-defined mission statement can help a healthtech company stand out in a crowded market, communicate its unique value proposition, and attract customers, partners, and investors.

Examples of Good Mission Statements in HealthTech

• “make patient communication in healthcare more accessible and become a movement for change.” (CardMedic)

• “we’re on a mission to make high-quality healthcare accessible and affordable for everyone on Earth.” (Babylon)

• “to reinvent the delivery of care through our innovative technology and genuinely caring people.” (Patchwork Health)

These examples illustrate how mission statements in the healthtech industry can be concise, memorable, and impactful. They communicate the company’s purpose, while also appealing to customers and employees.

Things to Watch Out for When Creating a Mission Statement

1. Ambiguity: Avoid using vague or abstract terms in your mission statement. The more specific and concrete your statement is, the easier it will be for stakeholders to understand and remember.

2. Lack of Focus: Avoid including too many goals in your mission statement. A mission statement should focus on the company’s core purpose and priorities.

3. Disconnect from Reality: Make sure that your mission statement aligns with the company’s capabilities and resources. A mission statement should be realistic and achievable.

In Summary

A well-crafted mission statement can help a healthtech company define its purpose and prioritise its efforts. When creating a mission statement, companies should aim for conciseness, focus, and relevance to ensure that it serves as a meaningful guide for the company’s future.

SciQ is a specialist HealthTech recruitment company. We are experts in the market and work hard to deliver the best talent for your organisation. To find out more about how we can help, get in touch with us here.