What do we mean when we say innovation? Innovation is a newly implemented, more efficient and better process for solving a problem or meeting a need. It must also be measurable.
In healthcare, innovation can help reduce costs, improve workflow, enhance outcomes, boost the patient experience and much more. The three keys of innovation are:
- Competency. It’s important to understand that innovation is a competency. Similar to other professional competencies, innovation is associated with bodies of knowledge, principles, methodologies and best practices that can be studied and learned.
- Culture. Innovation must be supported and nurtured by an organizational culture that promotes creativity, critical thinking and risk-taking.
- Courage. Because innovators spend their days challenging business assumptions, innovation also requires the courage to continue challenging the status quo and to sustain changes. This entails embracing risk-taking, participating in new trials and models, and learning from failure.
Learn more about how to commit to innovation in this May/June column Committing to Innovation to Survive.
Philip A. Newbold, FACHE, is CEO, Newbold Visionaries, South Bend, Ind. (newbold.visionaries@gmail.com) and CEO emeritus, Memorial Health System, South Bend, Ind.