Monday, October 19, 2015

Engaging in Health Innovation

Recap of Executive breakfast meeting - October 15, 2015

By Andrew Miller, ACM Consulting, @AndrewMillerACM

·         Innovators needs to have a clear value proposition in order to be considered for partnerships with providers.

·         There are some common characteristics of successful partnerships between innovators and providers:
o   A common desired outcome/solution
o   Clear ROI for all parties
o   Proven results
o   Ability to share risk
o   Realistic expectations on timing

·         Providers need to have a transparent way to determine which organizations to partner with in order to remove subjectivity from the decision-making process.

·         A great way to build credibility to find some smaller customers and achieve actual results.

·         Innovators that want to partner with larger providers need to understand the levels of bureaucracy and approval required.

·         Innovators can’t be afraid to ask questions about how much support their provider partners will give them.

·         For innovators, there are four steps you should take before anything else:

1.    Be very clear on the problem you solve (what value can you offer?)
2.    Find potential customers whose priorities align with the problem you solve (which prospective customers would most benefit from that value?)
3.    Understand who influences the buying decision within those organizations (who is the buyer and who is the user?)
4.    Cultivate a champion to help accelerate the process with those organizations (who will be the best advocate for the value we offer?)

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