ABSTRACT
When people think about innovation in healthcare, they think of miracle drugs; new technology; minimally invasive surgeries and procedures; new equipment for monitoring patients’ vital signs, heart rhythms, and function; robotic surgery; and remote monitoring. Essentially, all the aforementioned innovations are, in fact, inventions or discoveries. These advancements improved the delivery of care, making it possible for outpatient procedures and home care, thus allowing patients to remain at home instead of in a hospitalized environment. These inventions and discoveries comprise events that save lives and improve society. Events, however, occur sporadically with no predictability. Inventions and discoveries are unplanned and, as such, offer little advantage when it comes to sustained success. Innovation is more than an event; it also occurs on a daily basis with planning and often with little or no fanfare. Innovation is more than invention; it is both improvement and change. However, now the healthcare industry, like most other industries, needs to focus on innovation as a means to create value, reduce costs, and increase the quality of the care delivered. The margins are smaller than
ever and may continue to decline with the implementation of Obamacare. Over the past 30 years, healthcare leaders moved from quality assurance to quality improvement and are now using more sophisticated techniques, such as predictive analytics, to streamline processes, products, and services. A variety of other incentives and methodologies also were used as catalysts for reformation. To understand the present need for innovation, one needs to understand efforts from the past.
