Ease of doing business
Working across the ecosystem to define standards and approaches that both help quickly find and efficiently evaluate solutions, and methods to support adopting and scaling those solutions across our enterprise. Recognizing the necessity to measure that which is important, our group intends to first work with the industry to define what it means to be “easy to do business with.”
What is it?
An evaluation system to help health systems evaluate and improve outside-in innovation.
Health systems are beginning to understand the need to continuously evolve not only in what it innovates, but in how it innovates. Part of this evolution is recognizing the value in external partnerships to advance the culture of innovation. As part of this evolution, this initiative intends to help set the standard in being easy to do business with.
“Ease of doing business with” is a concept and scoring system borrowed from the World Bank Group, which created an index to help understand regulatory environments of countries in relation to starting and growing businesses. The index was meant to help understand and improve conditions that might lead to economic growth in these countries. Research has shown the positive relationship between foreign investment, emerging businesses and entrepreneurialism and the overall growth of the economy and its subsequent impact to broader indicators like poverty level, unemployment rates, and quality of like metrics. As a result, countries began to understand how important it was to create polices and regulations aimed at minimizing barriers to building businesses.
What are the components of EODB?
- A structure to evaluate and improve health systems ability to work with innovators
- An appreciation for the growing role outside-in innovation has on transforming healthcare
- An understanding of how external innovation can complement strategies, not compete against them
- An ability to get to Yes or No quickly
- An accommodation of the unique nature of out-side in innovation requires to account for the risk, funding dynamics, and competitive landscapes
How to use the framework as a healthcare system:
Who can benefit from the framework?
Health Systems – to help them understand opportunities for improvement in terms of becoming more open to outside innovation and to compare against the field. To learn from other health systems how to improve. To attract talent that is interested in working for a system that welcomes outside in innovation. To signal to the market and the patient/customer their intention to change health care.
Startups/Product Companies – to know which health systems they may want to target in forming partnerships