Advancing Innovation. in Healthcare

Transcription

1 Advancing Innovation in Healthcare

2 . Albert Einstein You can t solve today s problems by using the same kind of thinking we used when we created them. To start with, let s agree on the definition of innovation. Simply put, innovation is the introduction of a new idea or technology to make a positive change that can generate significant value. In many cases, innovation is using existing technologies in a way not originally intended to generate value for organizations. However, innovation does not always deliver the intended goal and some initiatives are bound to fail. In larger organizations, the recommended logical approach for managing innovation across the organization is to establish an Innovation Center of Excellence (COE). The process may include the following steps: Establish a cross-functional innovation committee or workgroup Develop specific strategies such as investment in early-stage technology companies with different ways of working Refine the processes from initiation, to prototyping and rollout Dedicate funding and establish specific measurements Innovation must happen organically and often. The new models to drive innovation look more entrepreneurial than our decades-old healthcare approach. Institutionalizing Innovation To institutionalize innovation, start by clearly defining a framework and communicate the process within the organization. Other industries have embraced a successful model called Divergent Collaboration. Divergent collaboration brings together experts from other industries with diverse backgrounds to foster new ways of thinking. Healthcare has lagged in innovation. Collaboration of this type may indeed kick-start healthcare innovation. Only a handful of major healthcare systems, such as Mayo Clinic, UPMC and Kaiser Permanente, are seriously investing in innovation. Some level of collaboration between larger, more progressive healthcare systems and smaller, laggard hospitals is beginning to happen, particularly as delivery and payment models change.

3 However, the entire industry needs to participate in this process since our challenges are widespread. Here are some recommendations for getting started: Manage investments start small and agree on a realistic timetable Be prepared to move quickly and at scale as innovations prove successful Provide specific incentives to drive the right behavior Choose your initial projects carefully to increase the chance of early wins Promote the process openly, with visible signs to encourage participation Collaborate with external organizations to create a sense of excitement Bring in external expertise to kick start the journey 10 Return on Investment (ROI) Strategies In the end, all business investments should yield some type of return. A lack of investment in innovation may ultimately erode market presence. Return can be measured in dollars, physician or patient satisfaction, and many other values to the organization. Alternatively, organizations may invest to stay relevant and competitive in regional markets. Whatever the reasons for investing in innovation, here are recommended steps for measuring ROI: Develop specific policies, guidelines and tools for ROI measurement Implement a stage-gate process to track innovation project valuations at key milestones Establish specific metrics for innovation ideas from each unit and openly report the metrics Create accelerated plans to implement successful innovation company-wide Optimize your work processes for new technologies Rightsize your infrastructure to support this transition this doesn t mean buy more Leverage new technologies with patients to reduce costs and improve patient satisfaction Work collaboratively with payers to accelerate payments Educate employees on selecting value-added innovations Patient engagement is an important part of the process. Encourage patients to embrace new technologies through pilot projects with specific patient populations or groups. Build a corporate culture of listening to patients for new ideas on how to improve satisfaction and engagement. And finally, establish more effective disease-specific communications and engagement strategies with each individual patient population.

4 Innovation Trends According to a recent survey by Mobile Health News, more than 70 percent of physicians in the U.S. use smartphones to access patient data or look up patient information.* Pew Research also tells us that about 70 percent of adults have smartphones and that by the end of 2018, nearly 60 percent of the population will use wearable technologies. This information signifies trends toward increased technology development in the healthcare industry including: Health monitoring via wearable technologies Virtual physician visits Patient access to their medical information on mobile devices Integrated healthcare analytics (think IBM Watson) Precision medicine and therapies With the escalating cost of healthcare, increased pressure for quality improvement, and additional regulatory requirements, innovation in healthcare consumerism is particularly ripe for rapid growth. We see major disruptions on the healthcare horizon and the urgent need for provider organizations to formally kick-start and adopt innovation. The U.S. ranking as one of the top 10 innovative countries in the world has propelled our economy. There is good reason to believe adopting a culture of innovation could have the same results for healthcare. Along the road to innovation it is important to recognize the rapid pace of technology. New technological capabilities interweave innovation within the organization s normal course of business. To foster this new approach, organizations should consider the following: Educate employees on how to think and act innovatively Create a no-fault culture to encourage innovative thinking Provide toolkits to all employees for properly evaluating each new idea Engage passionate employees as champions Add an innovation category to employees performance evaluation Include innovation in organizational performance measures Embrace new technologies and develop a process for assessment and adoption *This is not the percentage of physicians who have smartphones, which is probably closer to 100 percent. It is the percentage of physicians that access patient data using their smartphones. Peyman S. Zand is a Partner at Pivot Point Consulting, responsible for strategic services with key healthcare clients. As a senior level executive at a variety of companies, Peyman brings experience and an understanding of best practices that can solve his clients complex challenges. Currently serving as an interim regional CIO for Tenet Healthcare, Zand was previously a member of the University of North Carolina Healthcare System, leading Strategy, Governance, and Program/Project Management. He oversaw major initiatives including system-wide EHR implementation, regulatory programs, and physician practice rollouts. Prior to UNC, Zand formed the Applied Vision Group, a firm dedicated to assisting healthcare organizations with strategic planning, governance, and program and project management for key initiatives. Zand holds a Bachelors of Science in Computational Mathematics and Engineering from Michigan State University, and a Master of Business Administration from the University of Michigan.

5 About Pivot Point Consulting Pivot Point Consulting, a #1 in KLAS national healthcare IT consulting firm, provides strategic advisory, implementation, training, optimization, legacy support, and project management services. Our clients range from large multi-hospital networks to academic institutions, pediatric hospitals, and local community clinics. If you d like to learn more about what we do or how partners like Peyman Zand can help your organization, visit pivotpointconsulting.com.