Health Care Innovation
From the first coronary artery bypass surgeries to today’s advances in genomics and cell-based therapies, scientific and technological innovations continue to dramatically transform health care. Innovations are also reshaping how care is delivered — for example, through connected devices and home monitoring — and are changing the business side too, with novel financial arrangements such as bundled payments and value-based reimbursement.
Wharton Executive Education and Penn Medicine — world-renowned leaders in education and pioneers in health care — have designed a program to enable health care executives and clinicians to take the helm on innovation. The program is intended for established and aspiring leaders, both within and outside the U.S., and imparts a strategic, process-oriented approach to innovation that will speed organizations forward in this new era of health care.
Highlights and Benefits
This program will boost your acumen in managing the innovation activities of any health care organization, whether it is a stand-alone private practice, a large academic medical center, a medical device company, or other type of facility.
In Health Care Innovation, you will:
- Become a catalyst for innovation in your organization
- Inspire a culture of experimentation and innovation throughout your business
- Discover how to guide an innovation project from idea generation to implementation
- Be well prepared for potential disruptions by new technologies and business models
- Create and select innovations that improve the patient experience
- Apply design thinking to come up with viable new solutions to meet patient needs
- Seize new opportunities to re-imagine the delivery of health care
The Wharton-Penn Medicine Health Care Innovation program offers an unparalleled curriculum that will enhance your ability to strategically manage innovation in your organization. The program delivers a unique blend of lectures, experiential exercises, simulations, small group conversations, and class discussions with Wharton and Penn Medicine faculty as well as with distinguished industry thought leaders.
You will acquire three crucial perspectives to support you in leading the innovation activities of a health care organization:
Design Thinking in Health Care
- Delve beyond popular notions about design thinking and understand its power to stimulate innovation
- Enable effective innovation by considering different outcome metrics including word of mouth and customer delight
- Manage solution concepts using techniques such as introducing constraints, using analogy, and leveraging cognitive science
- Discover how to scale an innovation by managing organizational change
Managing the Process of Innovation in a Clinical Organization
- Acquire effective tools for presenting opportunities
- Increase innovation opportunities by engaging a large segment of your organization
- Learn techniques to help you prioritize ideas
- Broaden the diversity of ideas in an innovation process
Innovation Strategy in Health Care
- Manage a portfolio of innovations using a helpful “three-horizon” framework
- Explore value constellation and be able to generate new business models
- Direct innovation in a way that aligns with strategic priorities
- Investigate the concept of disruptive innovation as applied to health care delivery
Compete in a Health Care Innovation Tournament
On the first day of the Health Care Innovation program, you and your fellow participants will become engaged in an exciting Innovation Tournament based on a specific clinical challenge. In this competition, new ideas undergo numerous rounds of vetting, and only the strongest and most promising ideas make it to the final round. This type of tournament has been shown to generate remarkable innovation opportunities.
The best ideas from the tournament will lay the foundation for group work during the other days of the program. Participants will have the opportunity to directly apply design thinking methodology to action learning projects related to the winning concepts.
Session topics include:
- Overview of Innovation in Health Care
- Tournament Challenge
- Understanding User Needs
- Problem Definition and Solving for Delight
- Connected Strategies and Connected Care
- Concept Development and Brainstorming Techniques
- Rapid Validation and Hypothesis Testing
- Disruptive Innovation: Sleep Medicine Case
- New Business Models and Value Constellations
Who should attend
Health Care Innovation is designed for clinicians and health care executives in a variety of settings including large established health care organizations, private practices, and start-up companies both within and outside the U.S. Participants include, but are not limited to, clinicians, scientists, and other administrative and executive leaders who will benefit from learnings and skill development around innovation in health care.
Job titles or roles may include:
- CEO, COO, CFO, or CMO
- Vice president
- Department chair
- Division chief
- Physician chief
- Nursing chief
- Center director
- Medical school/nursing school dean
- Director of quality management or service line programs
- Other aspiring leaders and innovators in health care organizations and academic medicine
The program may be valuable for individuals from multiple disciplines, including physicians, nurses, business executives, psychologists, pharmacists, and medical researchers.