Are you targeting a health system for your innovation? Then don’t miss this episode! How does innovation affect the payer landscape and how do payer systems prioritize innovations and their resources? We got the inside track on how payers look at and engage healthcare innovators and how these priorities impact all stakeholders in the continuum of care.
On this episode of CoIQ with Dr. Roxie, we’re tackling the question of internal development and overdevelopment of innovation versus external innovation solutions in the payer landscape.
Dr. Robert Groves, executive vice president and chief medical officer at Banner-Aetna will guide us through the pathways of proof points, case validations, the willingness to accept risk, and the knowledge of the path to “yes” that can transform innovations into active healthcare solutions.
"It’s becoming impossible to manage healthcare without the intelligent application of technologies." -Dr. Robert Groves
3 Things You'll Learn
1. Why incentive is key to innovation success
Healthcare is too massive to fix easily. It needs transformative innovation, not incremental innovation, and doing that comes down to reimbursement models and incentive alignment.
If we get the incentives right there are smart people who will fix healthcare and give us something more beneficial and far less costly.
2. How to avoid death by pilot
If you don’t define what success is, and what you’re measuring and whether it’s important to the organization and the timeline, you will end up in purgatory. It’s also important to determine what the success of the pilot will tell you about the next stage of the relationship and the contract. Ultimately, it’s better to lose a big account than to give away free stuff and go nowhere.
3.The importance of managing expectations
One of the biggest challenges in healthcare is that people have irrational expectations of how implementation works. Most great ideas that make it to implementation get killed 3 times, and innovators need to have the patience, will and resources to stay the course. You need to have champions on both sides and having an environment that gives the innovation the opportunity for it to grow as people try to kill it. Innovators shouldn’t be so absolute because you need to constantly build, test and iterate.
The high costs and other issues in healthcare have deep and far reaching consequences in the economy, and as a result, we’re in crisis. While healthcare is a huge ship to steer if we put the right measures in the system, we can incentivize innovation and start to change the market. But it’s so important for us to create an environment that enables innovation, and not subjecting innovators to the limitations that exist in the current system. Additionally, all sides of the equation need to understand the complexities, and patience, will and resources to stay the course are key.
If you want to maximize ROI and avoid market failure when launching and commercializing your healthcare innovation, let’s talk! Click drroxietime.com to book your free 30-minute strategy session.
Dr. Robert is the Chief Medical Officer at Banner | Aetna. As Vice President of Health Management, Banner Health and Chief Medical Officer, Banner Health Network, Dr. Groves is responsible for physician leadership in population health management. He’s also responsible for delivering on clinical performance and utilization management in the volume to value transition. Go to https://www.banneraetna.com/ for more information.