Hello again. I wanted to give you all another update on the big project I am calling modelH. modelH is a dynamic collaboration between me, Innovation Excellence, Batterii, and a bunch of great healthcare thinkers.
Last week I told you about what we were trying to solve. This week I aim to tell you how.
I need your help to make this work. But before we ask you to get involved, let’s talk more about how we can solve this problem – together.
How do we solve the problem?
The American healthcare system is not so much broken as made up of working parts not working together.
The modelH team believes the ecosystem can be fixed! The answer lies in aligning the business model so all stakeholders share an understanding of “value” across the themes of consumption, delivery, and financing. Our definition of value is based on that of Michael Porter, put forth in his paper entitled What is Value in Health Care?. Value in healthcare is measured as the patient health outcome achieved per healthcare dollar spent. A better healthcare business model must then result in:
- Improved consumer experience yielding an informed decision maker aligned to their risk and reward,
- Increased access to necessary care through an engaged delivery system, and
- Reduced aggregate cost of care, with a market-driven, balanced incentive and reward model.
Our goal of Health Model Innovation is lofty, but achievable. We believe modelH will result in a practical guide to fixing the healthcare system that all stakeholders can use to create better aligned and market-sustaining business models.
But our goal is too big and too important to try and solve alone. This cannot be done without the actual stakeholders co-creating the solution together, outside of an over-focus on any particular theme, or an over-influence from any stakeholder group.
- Phase 1 is to agree on the framework and tenants of a healthcare business model canvas. This will create a structured means for business model generation, similar to the one developed by Alexander Osterwalder and team, but designed to work in the American healthcare system.
- Phase 2 will use the healthcare business model generator to develop and evaluate innovative market models and business ideas with the hope that some party within the ecosystem, or even outside of it, takes them to market.
- Phase 3 will take our findings and publish them in a visual playbook for all healthcare innovators to use.
Stay tuned – next week we will discuss how to build a business model canvas for the American healthcare system.
So, step up to the plate an get involved.
- Click here to join (the big red button on the side!): https://bit.ly/modelHForum
- Follow us online at: https://twitter.com/ModelHForum
- And you can read more about this project in my linked posts: modelH (part 2)| modelH (part 3) |
To your health!
image credit: learnvest.com
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Kevin Riley is an entrepreneur, healthcare executive, and business model innovator who works with start-ups and legacy companies alike, across the healthcare industry. Kevin founded and was CEO of a national health care retail company, has played leadership roles for national retail health start-ups, and served as the first Chief Innovation Officer of a major insurance plan. In 2006 he started Kevin Riley & Associates Health Model Innovation to help companies with the convergence of health care and the consumer.