Check These Vital Signs Before Innovating
In all sectors, whether public or private, there is mounting pressure to do more with less, not just for reasons of fiscal austerity, but because certain ways of doing things have become unsustainable or obsolete. In the case of health care, it's a question of making better use of available resources through innovation. To understand which innovation initiatives will be successful, it is paramount that each and every aspect of a project is explored in depth. This is the thinking behind the InnPACT framework, developed by the IESE/Accenture Center for Research in Health-Care Innovation Management (CRHIM). Traditionally, health-care innovation has tended to be analyzed in terms of costs versus benefits, or shareholders versus customers. InnPACT takes a more holistic approach, providing a standardized way to describe, evaluate and compare health innovation, using a 360-degree assessment tool that takes account of all stakeholders. Using numerous examples drawn from health-care initiatives in Europe and the United States, this article outlines the basic steps to follow to ensure a better quality of life for your own innovation efforts. Though conceived for the health-care sector, the principles behind the InnPACT framework can be applied to other sectors.