On May 8-10, the Innovative Learning Network (ILN) met in Charlotte, North Carolina to discuss and explore business model innovation in the healthcare industry. I found it amazing to see such a diverse group of innovators – senior leaders, doctors, nurses, and directors of innovation just to name a few. With everyone’s different backgrounds, we were able to tackle the looming question of business model innovation in healthcare from all angles and perspectives in a safe space where thinking outside the box was encouraged.
Business Innovation Factory (BIF) hosted the meeting to lead a 3-day workshop with Atrium Health. The workshop was designed to take the ILNers through our Design Methodology and Playbook for Next Practices and New Business Models process using a case study from our past work with Children’s Health in Dallas. In groups, we started by shifting our lens to understand the pains, gains, and job-to-be-done from the customer’s perspective. Then, we took the customer’s current experience as a foundation for imagining a new customer experience that relieves the customer’s pain points, maximize the gains, and completes the job-to-be-done. Finally, we tested a low fidelity prototype and put it up to the constructive criticism of the other groups.
We met with a few top healthcare trailblazers from a variety of different organizations and backgrounds who aren’t afraid to operate in the ‘scary’ space of business model innovation to ask them a few questions. We asked them about their personal take on innovation, the obstacles they must circumnavigate to innovate within their company, what innovative questions they want to explore in their company, how they prepare for future business models, and how they differentiate between transformational and incremental change.
While healthcare leaders understand the imperative of business model innovation, it is often scary to disrupt a large system that has been in place for years. When the motto of healthcare is “do no harm,” it is hard to be the guinea pig to test out new business models and next practices. Our goal was to help them make the business model innovation process safer and easier to manage.
I found it fascinating how unique, yet similar each person’s response was to these questions. The ILN is such a great catalyst for future business models because it provides a place for members to discuss and explore business model innovation in a safe way. Tim Rawson from ILN said that the event was a meeting, not a conference because in a meeting, things can go wrong. It was clear that everybody, no matter who they were felt confident sharing their perspective and wasn’t afraid of failure, rather they embraced it.
From the ILN In-Person meeting and the interviews, I learned how there is a clear imperative for business model innovation in the healthcare industry. Leaders are ready and willing to make that next step to transform their business models, but they just need a clear path forward. At BIF, we make the step towards next practices transformation safer and easier to manage. It is no question that patient’s values have changed; they want to feel empowered to take control over their health and overall wellness. They want to understand their health in normal terms and have a clear path to achieving their wellness goals. By transforming business models to align with customer values, not only will the customer be happier and healthier, but the business itself will perform better under new metrics of success.