The HealthCare Executive Group (HCEG) was honored to co-host a special Executive Leadership Roundtable May 9th at the recent HLTH Future of Healthcare Forum. HCEG partnered with the International Association of Innovation Professionals (IAOIP), the Center for Healthcare Innovation (CHI), the Workgroup for Electronic Data Interchange (WEDI) and special guest Dr. Sunnie Giles for the Boardroom-style event. The theme of the roundtable was Leadership, Trust and Skills in Overcoming Obstacles to Radical Innovation in Healthcare. Over a period of 3 hours, Charles Stellar, CEO of WEDI, moderated a panel of innovation and healthcare thought leaders as each shared their respective insight on the following topics:
- Ferris Taylor, HCEG Executive Director, shared insights on innovation and technology gleaned from the HCEG member organizations, the HCEG Top 10 and 8th Annual Industry Pulse Survey
- Brett Trusko, CEO of IAOIP, shared an International overview of Innovation Certification programs
- Lynn Hanessian, Chief Strategist, Edelman Health representing CHI, shared info and highlights from the Edelmen Trust Barometer research, and
- Dr. Sunnie Giles shared key findings from her research and recent book supporting “The New Science of Radical Innovation”
Insight into Obstacles to Radical Innovation in Healthcare
After each panelist concluded their presentations and key takeaways, an open Q & A period between panelists and attendees took place. This discussion evolved into an intimate engagement among Executive Leadership Roundtable attendees ensuing into a free-flowing, rather ‘un-conference-like’ approach. The interaction was so engaging that many session participants hung around AFTER the official end of the Executive Leadership roundtable to continue the discussion, network with each other and build professional relationships that are destined to accelerate more considerations in the future.
Insights on Radical Innovation in Healthcare – The HCEG Top 10 and 8th Annual Industry Pulse Research
Ferris Taylor connected the development of the annual issues to the common theme of innovation and technology and then shared five highlights of the 8th Annual Industry Pulse report – a survey of 2000 healthcare stakeholders jointly conducted by HCEG and its sponsor partner, Change Healthcare.
- Social determinants of health have now transcended buzzword status
- High-deductible health plans are not converting passive patients into active healthcare consumers
- Mobile/digital health adoption is not just about functionality and interoperability, but is significantly impacted by privacy and security concerns – more about trust than technology
- Industry attention is turning to blockchain, artificial intelligence, robotic process automation and other advanced technologies
- Healthcare is transitioning from negative to positive incentives to influence consumer behavior faster than most expect
The Edelmen Trust Barometer
After Ferris Taylor set the context for key areas of need and innovation in healthcare, Lynn Hanessian shared a detailed overview of the Edelman Trust Barometer – a measure of people’s trust in business, government, NGOs and media. Lynn opened with a sobering chart showing a historical decline in trust over the period of 2017 to 2018 – with 14 of 15 sectors showing an overall decrease in trust.
Lynn also shared insight from the Edelman report showing the division of opinion as to the impact of Tech to the Cost of Healthcare: 23% of respondents believed that technology will make healthcare MORE expensive over the next 5 years and 16% believe technology will make healthcare LESS expensive.
Overview of International Innovation Certification Programs
Brett Trusko of the IAOIP shared an overview of how the IAOIP is on a mission to professionalize the practice of innovation around the world. Brett shared the following methods that the IAOPI believes will be critical to promote the IAOIP’s mission of advancing innovation:
Brett also shared an overview of the Current Body of Best Practices for Innovation, why ‘professionalization’ of innovation is important, his beliefs as to why Failure to Innovate is NOT an Option, He closed his presentation with What You Can Do Now to advance the professionalization of innovation.
The New Science of Radical innovation
Dr. Sunnie Giles rounded out the initial roundtable presentations by sharing some highlights from her new book “The New Science of Radical Innovation.” Sunnie shared:
- A Definition of Radical Innovation
- The Concept of VUCA (especially in healthcare): Volatility, Uncertainty, Complexity & Ambiguity
- 4 Factors That Make Radical Innovation Challenging for Leaders
- How to Harness Volatility, Uncertainty, Complexity & Ambiguity to Increase Innovation in Healthcare
Open Discussion About Innovation at HLTH Future of Healthcare Forum
All in all, the Executive Leadership Roundtable at HLTH was an informative and engaging event. Of the 120+ registrants, over half participated in the roundtable with a number of walk-ins and with many of those individuals remaining afterward to continue the discussion about the opportunities and challenges for innovation in healthcare. Given that the HLTH Association Day was the afternoon of the last day of the 4-day HLTH forum, all participants and presenters considered it a great success!
HCEG appreciates the collaboration with Brett Trusko from the Association of Innovation Professionals, Lynn Hanessian representing the Center for Healthcare Innovation and Dr. Sunnie Giles of the Quantum Leadership Group. HCEG would also like to extend a special thanks to Charles Stellar of WEDI for moderating the panel and representing WEDI’s role in innovation and technology so well.
Connect with Each Other and The HealthCare Executive Group
If you enjoyed the 2018 HLTH Future of Healthcare Forum or would like to participate in a greatly scaled down yet equally valuable version of the forum, consider being part of the HealthCare Executive Group’s Annual Forum taking place in Minneapolis, MN on September 12 – 14th. We have a special event planned to celebrate our 30th year anniversary. Moreover, if you’re a healthcare executive who can benefit from collaborating with your C-suite peers, consider becoming an HCEG member.