Read Advisory Board's take: How can your hospital spur innovation?
In a recent survey of more than 300 hospital and health system leaders by Reaction Data, the Mayo Clinic was named the best "model for innovation," while Kaiser Permanente was named the best at "delivering high quality care at a sustainable cost."
For the survey, Reaction Data, a health care-specific research platform, polled 341 hospital and health system C-suite executives and department heads to identify leading organizations for innovation, thought leadership, and quality of care. The respondents were not given prompts and could choose whatever organization they wanted.
Overall, the survey found the top five health systems in 2018 across the three surveyed dimensions of innovation, thought leadership, and quality of care were:
The rankings shifted slightly when researchers looked at each of the three factors individually. For example, when respondents were asked, "What health care system comes to mind as a model for innovation?", the eight most-cited hospitals were:
When respondents were asked, "What health care system comes to mind as a model for delivering high quality care at a sustainable cost?", the eight most-cited hospitals were:
When asked about a health care system that "comes to mind as a thought leader on topics related to health care transformation," respondents named:
Alicia Daugherty, Managing Director, Market Innovation Center and Nadeem Farooqi, Senior Analyst, Service Line Strategy Advisor
Today's transformative market forces—slowing growth rates, new market entrants, rising physician alignment, and increasing M&A activity—necessitate innovation, not incremental change.
So how can your organization become more innovative? One path we've seen many providers take is to create innovation centers. Here's how hospitals and health systems around the country have been able to achieve their strategic goals using the innovation center model:
“Their initiative paid off with net revenues of $800,000+ per month.”
There is no one-size-fits all model for these centers. However, our research has found that these are four necessary components of the innovation process that must be addressed across all models to ensure success.
To learn these four elements, and to read other case studies of successful innovation, read our report on Developing High-Impact Innovation Centers.
Our new report explores the clinical technology pipeline to help health care leaders become more conversant in the major vectors of innovation, leading applications of new technologies, and the business implications for established providers. Read on to unpack the new innovation agenda.
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