October 23, 2018

Innovations, Innovators, Investors and Human Behaviours

It is not new news that humans appear programmed by instinct to resist change.
Consequently, a vast industry has been spawned, underpinned by business schools and libraries of academic research around the world, great arsenals of tools and methods, all aimed at organisations in the form of “change management”. This is complemented by an equivalent boom in personal services to make us as individuals feel better about it all.
But what we might not sufficiently appreciate is that this behaviour is not restricted to those whose work is being innovated, it also afflicts the innovators themselves.
Ultimately, innovators must prove their own value, in terms of improving health outcomes and, of course, costs reduced. However, such economic scrutiny requires:
• Technical and functional integration of the innovation with NHS infrastructure and processes
• A solid grasp of population health analysis to demonstrate actual and potential need
• Redesigned and costed clinical pathways
• Actual implementation, however small, from proof of concept, prototype or clinical trial
• Actual data of outcomes and costs
and, obviously, an economist to analyse it all.
The health-tech arena generates exceedingly vast demands of proving evidence-based value, while fulfilling a lot of regulation and compliance. With so, so much to do, why do innovators all try doing these things on their own, recreating the means to doing it – and at such a cost, in terms of money and time? Surely, instead of literally thousands of small and medium businesses tackling these challenges each on their own, the means of doing so could and should be templated and offered in common? This would considerably expedite the process, make success far likelier and… save investors a small fortune?
It is the investors who can and should make this happen, as conditions of their investments – whether these be private or public-sector investors.
IT Health Partnership is pleased to be fully capable and available, in all domains needed, to offer the services required by innovators to the health and care sectors.

Robin Stern, Partner, IT Health Partnership
(The views expressed are those of the author, not necessarily representative of those of the Partnership.)

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