The Answer to Innovative Healthcare? It’s Probably Outside the Walls of Your Hospital

South by Southwest (SXSW) in Austin, TX, has gained a reputation as a conference where cutting edge technology and ideas are launched. To give you an idea, 11 years ago Twitter launched at SXSW. So, it’s not surprising that other hot ideas—including those related to healthcare—were being discussed in Austin last month.

On opening day of SXSW, there was a panel discussion that included three execs from UPMC discussing how their organization is piloting a program whereby UPMC becomes a strategic investor in healthcare-related start-ups.

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Lessons from Outside Healthcare: Turning your supply chain into a strategic asset

In this age of technology and disruption, we often look outside of our own industry for new ideas to make things better and more efficient. And, “while hospitals are not factories and patients are not cars, health systems can learn valuable logistics lessons from the automotive and retail industries,” noted a recent article in Becker’s Hospital Review.

Outlined in the article are seven supply chain lessons gleaned from industries such as automotive, electronic and industrial production:

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MedSpeed’s CEO Wins Loyola University Chicago Supply & Value Chain Center’s Supply Chain Innovation Award

By Bonni Kaplan DeWoskin, Vice President of Marketing

 

We talk a lot about innovation in this space, so I’m excited to announce that our CEO, Jake Crampton has been selected as the winner of the Loyola University Chicago Supply & Value Chain Center’s Supply Chain Innovation Award. Jake accepted the award the award at Loyola’s 5th Annual Supply Chain and Sustainability Summit.

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Find Good Partners and Innovate if You Want to Stay on Top

Resting on your laurels isn’t the way to stay on top of your game, according to three leading healthcare CEOs who spoke at a recent Not-for-Profit Health Care Investor Conference. They’ve lead their organizations to success by keeping their eyes peeled for new and better ways to do things. This topic really appeals to me.

These CEOs seek ideas from both traditional competitors and from other industries. Rodney Hochman, M.D, CEO of Providence Health & Services advises healthcare leaders to “shamelessly steal” good ideas from other industries and Michael Dowling, CEO of Northwell Health urges hospitals to share their own innovations with other businesses that might benefit.

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Why Questioning the Status Quo Builds Better Leaders to “Think Different”

There’s a post that I read a while back on Inc. that keeps coming back to me. “Why Great Leaders Question the Status Quo: Being a thoughtful, creative leader means moving beyond the confines of tradition,” was written by Micah Solomon.

We all know of great thinkers and business leaders who question the status quo, and Solomon cites the late Steve Jobs of Apple as a prime example. The indelibly memorable “Think Different” advertising campaign that helped bring Apple back from the brink in 1997 completely highlighted the fact that Apple products and its leader were different from the rest of the world.

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Frugal Innovation: Healthcare’s Answer to Transformation?

Often, innovation and technology are thought of as the same thing. But, aren’t there ways to innovate that aren’t tied to huge investments in the latest and greatest technology? Innovation isn’t only about “stuff,” it’s also about looking at new or different approaches that can move the needle on productivity and other outcomes.

Along these lines, a recent Becker’s Health IT article caught my attention. The subject was “frugal innovation,” the idea of doing more with less. The healthcare industry is particularly primed to take a serious look at frugal innovation.

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The Lessons We Can Learn from RadioShack

I’ve written before about lessons the healthcare industry can learn from the general business community. The story of the eventual collapse of 94-year old RadioShack, as posted by Becker’s Hospital Review, is another great lesson we can learn – and a cautionary tale for us all. As Tamara Rosin wrote:

RadioShack, like all businesses, is not immune to the impacts of changing technology and evolving consumer forces. Adaptability, business savvy, connectivity with consumers and strong leadership are critical for sustaining in a fast-paced market.

Ms. Rosin then goes on to list some key lessons to prevent your hospital from going the way of RadioShack.

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Can Imitation Be More Beneficial than Innovation? The Answer May Surprise You

Innovation is the engine of change. And, as a recent Harvard Business Review post noted, “Health care is infatuated with innovation.” After all, innovation is how we’ve evolved as a society.

But what about imitation? Can our industry benefit from that?

The HBR post, titled “Health Care Needs Less Innovation and More Imitation” goes on to note that some health systems are emulating an approach adapted by Cisco Systems. Cisco doesn’t just invest in its own research; the company also teams up with partners that have promising products.

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Survival of the Fittest: Is Your Healthcare Organization Adapting?

Integration is a topic I am very interested in. It is a large part of what we do and I pay close attention to integration-related discussions and articles. Recently, I came across this HealthLeaders interview with Joe Gifford, MD, the CEO of the Providence-Swedish Health Alliance, which speaks to this very topic.

With the continual changes the healthcare industry has experienced, the mantra of “adapt or die,” has been heard before. But according to Mr. Gifford, that analogy to evolution biology really rings true. His take? Only organizations that take chances (adapt) will survive.

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C-Suite Strategy for Successful Change: Integration is the key to reinvent healthcare

Recently, Becker’s Hospital Review convened 20 CEOs from a diverse cross-section of healthcare delivery systems around the U.S. The purpose was to learn what they (and other C-suite leaders) are doing to successfully adapt to the unprecedented change our industry is experiencing and to also examine the myriad challenges they face along the way.

One significant conclusion: in order to create successful and integrated delivery models, it’s imperative that healthcare systems break through legacy silos and acknowledge the important co-existence of horizontal and vertical integration—across boundaries of care, within and outside of a hospital structure.

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