Driving Outcomes-Digital Health Business Model Innovation

Abstract

This is a unique time for healthcare and digital entrepreneurs. A multitude of factors are driving an enhanced quest for operational resiliency solutions to withstand future challenges by improved workflow.

Years into the most pervasive, painful health emergency of our lifetimes, huge persistant challenges must be resolved. Existing chronic conditions combined with digital inequities stymied the delivery of inclusive whole person care to lower income groups and people of color. Disproportionate COVID-19 hospitalizations and death rates laid bare system gaps adding to existing healthcare challenges.

Institutions and entrepreneurs are challenged to deliver new sustainable value propositions for equitable and behavioral health outcomes at reduced costs through business model innovations and value based care. Interoperability with healthcare work environments and workflows is an added consideration and adoption criterion.

Whether developing products or building business opportunities to resolve marketplace pain, a key determinant is whether a customer will pay for the solution being sold.

Business model innovation is built on this initial assessment. Customer discovery tools and customer development processes are available to determine potential customers’ pain. Concepts are tested with prospective customers, iterating toward product offerings and quantifiably testing the perceived value or worth placed for either a purchased or internally created enhancement. These processes continuously validate data driven learnings to improve the offered product or service solution.

The healthcare industry has urgent needs. Entrepreneurs are required to develop business concepts aligning key resources, processes and profit formulas to create, deliver and capture perceived value for paying customers.