How to kick start innovation in your organization
Digital health companies attracted more than $8 billion in investment in 2018, and digital health now accounts for an estimated 10 percent of all venture funding.1 Clearly, investors are betting big that health – and health care delivery – remains ripe for additional value creation.
The investment community is quick to target big tech and startups as the likeliest to remove friction from health care, and they often overlook the potential impact of innovation by long-standing organizations in the field.
Innovating within health care requires navigating complexity, uncertainty and a unique regulatory environment. Organizations already experienced in the field are well suited not only to uncover new solutions but understand how they must be positioned within the health care environment to scale.
Yet, cultivating and sustaining innovation within provider organizations remains a challenge. More than 60 percent of hospital and health system chief innovation officers say culture or organizational structure is a major barrier to innovation.2
How can hospital and health system leaders boost innovation?
Embracing innovation starts with building a culture of innovation – a culture that is nimble and accepts and encourages calculated risk. That’s why the AHA has partnered with The University of Chicago Booth School of Business to develop a new training opportunity for health care leaders, Building and Leading a Culture of Innovation. Participants in this one-day course will uncover behaviors that inhibit innovation in their organizations, and develop a plan for unblocking them guided by best practices for change management.
We’re offering two opportunities to take advantage of this training. The first immersive course will be held April 30 at the University of Chicago’s Gleacher Center in downtown Chicago. We will host a second course on July 9.
Hospitals and health systems across the country are innovating in many ways – using their current business models and exploring new business models. But to achieve the level of transformation required to truly advance health, we must increase the speed and scale of our innovation efforts. This course is designed to help organizations refine their approach to do just that.
Led by University of Chicago Booth School of Business faculty, this course will allow participants to gain practical outcomes and actionable takeaways to drive change within their organizations. Spots are filling fast! Register today.
Lindsey Dunn Burgstahler is the vice president of programming & intelligence at the AHA’s Center for Health Innovation.
Citations:
1. Rock Health (2018). 2018 Year End Funding Report: Is Digital Health in a Bubble? Available online at: https://rockhealth.com/reports/2018-year-end-funding-report-is-digital-health-in-a-bubble.
2. Health Management, Policy & Innovation (2018). Leading Change – A National Survey of Chief Innovation Officers in Health Systems. Available online at: https://hmpi.org/2018/03/14/leading-change-a-national-survey-of-chief-innovation-officers-in-health-systems.