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Running Head: HEALTHCARE 1

HEALTHCARE 4

Innovation can be described as creating and coming up with new values and ideas that people will be willing to use and pay for. Implementing innovation in a strategic plan is important because it helps map out an organization's mission, vision and value proposition for defined customer markets (Kylliäinen, 2018). Without innovation, an organization may not be able to keep up with the competition. As technology advances over time, an organization needs to come up with new ideas in order to stay on top of the competition or the organization may end up staying stagnate. If this happens, the organization will more than likely fall behind and may end up failing.

As a patient in a hospital or healthcare setting, you may begin to wonder how they come up with new ideas to help improve patient experience. There are different business model innovations along with clinical and technological innovations put in place in order to come up with new ways to improve patient experience. As a patient, you may see many other patients in the hospital with chronic illnesses or you may be experiencing a chronic illness yourself. One of the biggest and most important questions asked is "How are they going to treat this"? Bioelectronics is a new clinical innovation that is used to treat chronic disease. Some examples of chronic diseases that can be treated by bioelectronics are type II diabetes, asthma, arthritis, and hypertension. What bioelectronics is, is a very small device that is implanted next to a certain nerve and delivers a moderate electrical stimulation to control cell or organ function. This will vastly help improve patient experience. These chronic diseases not only affect healthcare spending for hospitals and other healthcare organizations, but it also affects healthcare spending for the patients as well. Patients have to spend money on different pharmaceuticals and on top of that they have to deal with many different side effects from those pharmaceuticals. Bioelectronics vastly reduces the amount of side effects patients experience and helps them live happier and healthier lives. If I was a patient dealing with a chronic condition, this new clinical innovation will be something that I would be up for. It will make the process of dealing with these chronic conditions a whole lot easier.

Reference

Kylliäinen, J. (2018, December 28). Innovation strategy – what is it and how to develop one? Retrieved from https://www.viima.com/blog/innovation-strategy (Links to an external site.)

Rose, S. (2013, May 22). The importance of strategic innovation. Retrieved from https://informaconnect.com/the-importance-of-strategic-innovation/

Advisory Board. (2019, September 26). These 8 clinical innovations are coming soon (and could transform health care). Retrieved from https://www.advisory.com/daily-briefing/2019/09/26/clinical-innovations (Links to an external site.)