Start Your Engines…

June 30, 2016 Michael J. Alkire

What if a life-saving discovery took 15 weeks instead of 15 years to become a standard of care nationwide? The healthcare industry can turn this “what if” into reality with five innovation strategies.

1. Vision. Look for areas of improvement, as well as stay in front of future issues to recognize untapped areas of growth.

2. Collaboration. Encourage teamwork. The world’s most successful companies nurture collaboration because it sparks the best ideas. Partnership can change healthcare.

3. Disruption. Challenge tradition like Tesla, Uber and Airbnb. The healthcare industry needs disrupters with new ways of thinking to fundamentally change care delivery.

4. Resilience. Uncharted waters require tenacity and resilience. Everyone will experience failure; it’s what you do after that failure that matters. How you bounce back and improve in the process often defines your success.

5. Implementation. Build, test and scale ideas. Good ideas, not fully realized, are history’s footnotes. And the stakes in healthcare are too high to risk losing life-saving ideas.

Once you start using these strategies, you will find they become second nature. Last week, for example, at our annual Breakthroughs conference, I saw countless examples of this type of innovation among our members and from our suppliers – including during the Innovation Celebration. The possibility of what the featured products will mean for the future of the healthcare industry is inspiring, and the innovative spirit of our suppliers is contagious.

So how can you channel that spirit of innovation at your organization?

We recently launched the Premier Innovation Engine – an innovation incubator that will work with early- and growth-stage healthcare start-ups on the mission to make healthcare better for everyone. The program encourages an environment of innovation for our members, as well as for the healthcare industry as a whole while we work together to improve the health of communities.

To learn more about Premier’s Innovation Engine, CLICK HERE.

 

Author information

Michael J. Alkire

Michael J. Alkire

Chief operating officer at Premier, Inc.

I’m a healthcare executive from Ohio who helps healthcare organizations provide higher quality care at a better cost. When I’m not working you’ll find me spending time with my family, likely at one of my children’s sporting events.

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