Continuing my LinkedIn Pulse posts on Value in Healthcare and Business Model Innovation here is my latest thinking drawing these together in discussing healthcare outcomes.
In case you missed the recent McKinsey&Company article Improving healthcare while curbing cost: Med-Tech companies offer a solution. Whilst potentially directed at the executive leadership with the healthcare system it clearly points to the timely opportunity for Med Tech businesses to engage in a new type of executive conversation with their customers about what truly matters to them – measurable healthcare outcomes. The piece is timely, relevant and authoritative. McKinsey suggests the opportunity for beyond-the-product solutions in the US alone could be as great as $44 billion (USD).
My journey through the literature also brought me to a Harvard Business Review paper from September 2015 Better Value in Health Care Requires Focusing on Outcomes by Stowell C & Ackerman C. It cites good case illustrations and I will be exploring International Consortium for Health Outcomes Measurement (ICHOM). There are more and more examples who this can be applicable to different therapy areas for the benefit of the patient, healthcare system and providers.
I continue to keenly follow and advocate the approaches taken by the Canadian Patient Safety Institute. I intend to engage in conversation with both the CPSI and NHS Safety Thermometer to really understand in what they are achieving real improved healthcare outcomes.
The header image shows one of the best acknowledged leading health indicators: HbA1c
I am also now attending a Hacking Health Waterloo meet-up on technology in healthcare. More to follow!