It’s hard enough to keep up in a complex industry like healthcare. But just wait till healthcare is disrupted as dramatically as retail or music has been over the past decade.
Clearly the healthcare industry has long been a competitive vertical (on numerous fronts: from patient services to technology and edge disciplines), and its complexity makes it harder to disrupt than others, but there is no denying that the challenges have accelerated. Unity Stoakes, in his What’s Now conversation earlier this Spring painted a persuasive picture of the accelerating forces driving what he sees as an exponential growth curve in the industry.
Much of this impending disruption has the potential to deliver wonderful benefits to individuals, organizations and society at large. In fact, an argument could be made that the more radical the change, the greater the potential benefits…. However, when it comes to managing change at your healthcare organization, how can we all stay on our toes and make the most of these accelerating changes?
At IdeaScale we’re working with a diversity of healthcare organizations from hospital systems to research and development institutions and medical technology companies. While some are working to increase knowledge sharing between traditionally siloed departments, others are focused on saving millions of dollars a year and still others are focused on accelerating product development.
At the core of what they’re all doing is building an idea management processes to ensure they get all hands on deck to stay competitive as the pace of change accelerates, and disruption increases. Here are a few key reasons your health organization wants to do the same:
Attract and retain top talent. If Unity is right about the current tide of talent transforming the healthcare sector (and he makes good arguments about how much increasing VC capital is attracting, then now is the time to make sure your employees are engaged and feel positive about workplace well-being. Attract talent in the next 5 years, don’t lose it.
Transform and deliver faster. Be more agile. The faster you can process new ideas, the more able your organization will be to identify and take advantage of new opportunities. This means you’ll have to be both ruthless towards ideas but generous about failure because testing is the best way to learn.
A well oiled-machine weathers the storm better. Deliver consistent process improvement throughout your organization and that will keep the engine purring no matter what influencing factors are creating change. When engineers design airplanes they take turbulence into account by focusing on the structural integrity of the airplane. If the next decade is bound to be a turbulent one for healthcare, leveraging your whole company to help optimize your processes will help improve operations, reduce errors and improve organizational integrity in a more predictable fashion.
Learn more about the state of innovation in the healthcare industry in our white paper.