The healthcare industry continues to struggle with innovation because of its crippling aversion to risk, the difficulties of proving a return on investment for long-term projects, and a lack of structure for rewarding successful innovation. The cautious approach to innovation is understandable given healthcare organizations’ responsibilities to provide safe and effective care.
However, when it comes to commercial innovation, organizations have more liberty to test and learn.
Healthcare organizations must foster a stronger culture of commercial innovation where an agile approach is embraced, employees are encouraged and rewarded for new ideas, and support is put in place to make these efforts come to life. By taking smart business risks, healthcare organizations can be bold without sacrificing the safety and efficacy measures that are imperative on the clinical side.
Download the full report to see how Advocate Health, Intermountain Healthcare, Hikma and more are tackling innovation