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Problems, Pathways, & Pull-Thru: A Practical Guide to Sustainable Healthcare Innovation Innovation in healthcare isn't just about generating ideas; it's about systemically implementing these innovations to enhance both competitive advantage and mission fulfillment. This calls for a deep understanding of problems, choosing the right pathways, and ensuring #innovations are not just introduced but woven into our operations. Understanding the Real Problems: True innovation begins with accurately defining the problems we aim to solve. This alignment with our organizational goals ensures that each innovation directly enhances outcomes and optimizes resources. Choosing the Right Pathways: Once we define our problems, selecting the right pathways for innovation is critical. Whether through technology advancements like AI or through systems improvements, the choice must align with our long-term strategic goals. Our portfolio approach to innovation—balancing incremental changes with a few groundbreaking initiatives—dynamically improves the probability of meaningful success. As #PeterDrucker famously said, "the only legitimate business functions are marketing and innovation." This perspective is crucial, emphasizing that our innovations should serve clear purposes. Effective Implementation and Sustainability: Pulling through innovation involves more than launch; it demands that new solutions become integral to our daily operations. Building systems and processes that support the ongoing use and evolution of innovations ensures they deliver continuous value. The Role of Collaboration in Innovation: The complexity of today's #healthcare landscape means no single organization can excel in isolation. Effective partnerships—with industry, community organizations, government, and payers—are crucial. These collaborations not only enhance our capabilities but also strengthen trust among all stakeholders, which is essential for sustained competitive advantage and mission effectiveness. Navigating with a Guide: In navigating the intricate paths of innovation, having a guide—someone who understands both the internal and external environments—is invaluable. This guide can help steer efforts by providing insights that are both practical and visionary, ensuring that innovations align with broader industry trends and patient needs. Inspiring a Bright Future and Conclusion: Mastering practical innovation offers a promising path forward. By relentlessly focusing on practical, not just disruptive innovations, we create a future where healthcare not only meets today's challenges but also anticipates tomorrow's opportunities. The journey of innovation in healthcare is continuous and complex. By accurately defining problems, choosing appropriate pathways, and ensuring effective pull-through, we can transform challenges into opportunities for #growth and improvement. Let's move forward with the imagination and practicality needed to make healthcare better for everyone.

Innovation is a frequently used buzzword in healthcare. Despite its widespread usage within our industry, achieving tangible value and impactful outcomes often proves challenging. Our most recent blog delves into four of the lessons we have learned from building dozens of successful companies, on how to foster an environment where innovation flourishes despite the structural barriers to change. We know that innovation is the best path to improving care and lowering costs. Check out our learnings and reach out to us to learn how we can work together. https://lnkd.in/dnjWEMXt

Mastering Your Mindset: Portfolio Thinking in Healthcare Innovation In healthcare, adopting a strategy from financial portfolio management offers opportunities to increase both ROI and innovation efficacy. Just as financial experts balance investments to maximize returns and minimize risks, healthcare leaders can apply a portfolio mindset to maintain steady incremental improvements and strategically bet on future innovations. The Essence of Portfolio Thinking in Healthcare Innovation in #healthcare should be a calculated strategy aligned with organizational goals. By adopting a portfolio approach, we can diversify innovation efforts across three primary categories: 1. Internal and Incremental: These #innovations, essential for continuous improvement, should comprise about 80% of our efforts, focusing on refining systems and processes that directly impact patient safety, clinical outcomes, consumer experience, and business results. 2. Hybrid: Around 10% to 15% of our efforts should push beyond current capabilities, involving collaborations with technology firms, academic institutions, and cross-industry partners to introduce fresh ideas into our practices. 3. External and Potentially Disruptive: The remaining 5% should be reserved for pursuing high-risk, high-reward innovations that could potentially disrupt the healthcare landscape. These ventures are deeply embedded in expansive ecosystems beyond our direct control and require careful consideration and #StrategicPlanning. Balancing Risks and Returns Balancing these elements requires a reimagined approach and support structures that may not exist within healthcare organizations. Each segment of the innovation portfolio serves a distinct purpose, contributing to a holistic strategy that supports both stability and advancement. The Goal of Portfolio Thinking The goal is to optimize the impact and feasibility of innovations. By strategically allocating resources and #leadership bandwidth, healthcare systems can address immediate needs and position themselves for future success. This approach ensures resilience and adaptability, enabling incremental changes that enhance day-to-day operations and embracing disruptive innovations that pave the way for future advancements. Conclusion As healthcare leaders, our mission extends beyond the treatment of disease and championing health and well-being; it involves steering innovation to significantly benefit and further serve those we care for. By mastering the art of portfolio thinking, we elevate what is possible and steward a future that is more probable. Reflect and Respond: 1. What strategies can your organization implement to ensure a balanced innovation portfolio that addresses both immediate needs and future challenges? 2. How can your organization leverage partnerships to enhance innovation capabilities without losing sight of its core mission? #LeadWithImagination #BestIdeasWin #HealthcareLeadership #HealthcareInnovation

“Innovation isn’t about creating or building,”(...) “It’s about a creative way to solve a problem.” 1. All agreed that the best technology won’t make a difference if people aren’t ready and willing to use it. 2. The key to moving forward with new ideas in healthcare is change management. #changemanagement #innovation #adoption #healthcare https://lnkd.in/eA7yAatX

Does Innovation in Healthcare Even Matter? #Innovation and making things better has always been close to my heart and coded into my DNA. Yet I remember the moment, shortly after stepping into a new leadership role, when the enormity of what lay ahead was beginning to hit me. As I drove home one evening, reflecting on my conversation with our new CEO, "Innovation, that is the legacy I want to leave behind from whatever time I am called to serve." Great I thought, an overused, ill-defined, buzzword (at least as I experienced it over my career in healthcare. This conversation was a turning point, a moment of both reckoning and reconciliation with my love-hate relationship with the concept of innovation. As #PeterDrucker famously stated, "There are only two legitimate business functions, marketing and innovation." In healthcare, this translates into the dual imperative to get customers (grow our business) and keep them (by improving our service and services to them). But it's about so much more than that. Sandy Shugart, in the foreword to my book, "Lead with Imagination," succinctly captures this sentiment: "When hospital systems accept the status quo and perform below their full potential, you can count the cost in human lives." This profound statement reminds us of the heavy responsibility that lies on our shoulders. Why does innovation matter so much in #healthcare? It’s because most leaders in this field are driven by a deep, missional motivation—a desire to make a real difference in people’s lives. They come to work every day not just to manage facilities but to lead communities towards better health. Yet, they face a harsh reality—a distressed and divided environment where financial pressures cannot be ignored. Here lies the "Art of the And": integrating mission with margin, idealism with pragmatism. In this seven-part blog series, derived from our upcoming strategy white paper, "Innovation: Systems, Structures, and Processes," we'll explore a re-imagined and robust approach to innovation in healthcare. We will consider among other topics: 1. The power of incremental innovation, focusing on core operations as the bedrock of improvement (even if not great marketing or cool sounding) 2. The leverage of a portfolio mindset that yields both a return on investment and further “returns on innovation” 3. The challenge and yet necessity of a systemic and engaging approach to innovation across the organization (and through the silo’s) that is crucial to long term success, and particular so with the advance of #AI (likely making AI more risk than benefit if not approached in this way as culture) As we embark on this critical exploration together, challenging and championing a future where effective healthcare innovation is both a standard practice and beacon of hope, I hope you will jump right in and add the diversity of thought needed to lessen the cost of the status quo. #BestIdeasWin #LeadWithImagination #Hospital #HealthcareSystem

5-Steps to Launching Successful Innovation Initiatives in Healthcare Initiating an innovation initiative in healthcare can present numerous challenges. To assist in navigating these complexities, here are five steps designed to blend the inherent uncertainties of innovation with the structured, evidence-based approach familiar to many healthcare professionals. 1. Align with Strategic Goals Objective: Ensure your initiative aligns with the broader strategic objectives of your organisation. Action: Review organisational goals and identify how the initiative can contribute to these targets. Evidence: Cite case studies where strategic alignment improved initiative success rates. 2. Ensure Adequate Resource Allocation Objective: Secure necessary resources – funding, staff, and technology support Action: Develop a resource plan, and advocate for its inclusion in the budget. Evidence: Reference studies showing the impact of resource allocation on the success of healthcare projects. 3. Foster a Culture of Innovation Objective: Create an organisational culture that supports and encourages innovation. Action: Promote open communication, encourage risk-taking, and recognise innovative efforts. Evidence: Use examples from healthcare organisations where a strong culture of innovation led to successful outcomes. 4. Engage Stakeholders Effectively Objective: Involve key stakeholders – staff, patients, and partners – in the innovation process. Action: Establish channels for stakeholder feedback and involvement from the early stages of the initiative. Evidence: Highlight instances where stakeholder engagement has directly influenced the success of healthcare initiatives. 5. Measure and Adapt Objective: Continuously measure the impact of the initiative and be prepared to adjust. Action: Implement a fit for purpose monitoring and evaluation system to track progress and outcomes. Evidence: Discuss the importance of agility and flexibility in innovation, supported by examples where adaptability led to improved healthcare services. What else do you see as important in launching innovation in health? #healthcareinnovated #innovationinhealth

Healthcare innovation is a topic that has been on my mind lately. With so many new ideas and products emerging, it's important to consider the impact they have on our healthcare delivery system. As innovators, we want to make a difference and improve the lives of those we serve. Recently, I came across the book Innovating with Impact by Ted Ladd and Alessandro Lanteri, and it's been an excellent read. One key takeaway I want to share is the importance of considering the societal context and the issue at hand when proposing an innovation. It's also crucial to use recognized process tools in defining the problem and to identify the societal themes that the innovation touches. By doing these things, we can achieve the greatest impact. I'm interested in hearing your thoughts on these steps and whether you find them valid and useful. Let's continue to innovate with impact and make a difference in healthcare. #healthcare #innovation #impact

Ever wonder why some healthcare products fail to make an impact? It's not always about innovation. It's about alignment. The healthcare landscape is evolving, and so are its challenges. Understanding these is not just beneficial – it's crucial. From staff shortages predicted to hit 10 million by 2030, to the $𝟰.𝟲 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗮𝗻𝗻𝘂𝗮𝗹 𝗰𝗼𝘀𝘁 of healthcare worker burnout, the hurdles are many and varied. But here's where it gets interesting. These challenges open up unprecedented opportunities for products that can truly address the real needs of both patients and providers. Imagine a product that could alleviate the administrative burden, giving back precious time for patient-doctor interactions. Or one that bridges the gap in patient engagement, enhancing care and operational efficiency. The key lies in spotting those gaps – the unmet needs that are often overlooked. It's about delving deep into the existing ecosystem, identifying pain points, and tailoring your solution to fit. This approach doesn't just guarantee a product that aligns with market demands. It ensures a solution that can transform healthcare, making a tangible difference in the lives of millions. So, let's shift our focus. Let's innovate not just for the sake of innovation, but with the goal of addressing these critical challenges head-on.

What can healthcare systems learn from looking at tensions in innovation processes? A systematic literature review: https://lnkd.in/gAa_EDBD Introducing innovation into a healthcare system’s primary care market remains a challenging task. Even though healthcare systems differ in governmental type and arrangements, the challenge to overcome barriers in innovation processes is common to all stakeholders who aim to design and shape effective healthcare services. Various factors are responsible for this: Different legal, economic and organizational structures have to be considered when integrating innovations; national systems are also characterized by strong institutionalization, regulatory challenges and process complexity 

"Looking to propel your healthcare organization into the future? Discover actionable strategies shared by John Squeo, MBA, FACHE, CHCIO, CDH-E, SVP at CitiusTech, on how to scale innovation effectively and achieve tangible results. Invest in your organization's success by unlocking the secrets to real-world value from innovation efforts. #HealthcareInnovation #CitiusTech #HealthcareTechnology"