In an era characterized by rapid technological advancement, one would presume that innovation thrives across all sectors. Yet, for large corporations, particularly in the health sector, this is not necessarily the case. Let's delve into the unique challenges these corporations face and what could potentially be done to address them.

The Struggle with Innovation Velocity

It's an open secret: many big corporations lag when it comes to innovation. While they may recognize this shortfall and create internal divisions to foster new ideas, this is often insufficient. The root of the issue? An inability to seamlessly let these new ideas fly across the organization.

Their existing structures, often functional and hierarchical, can act as barriers. Such corporations aren't agile enough to swiftly adopt and implement these fresh concepts.

This lack of agility, or what some might term as the challenge of achieving 'escaping velocity', is a hurdle in its own right and demands a paradigm of innovation to overcome.

The Unique Complexities of Healthcare Innovation

Healthcare intensifies this challenge. A multidisciplinary field, healthcare innovation isn't just about groundbreaking ideas but also about collaboration. It demands synergy between medical scientists, clinicians, product developers, and technology experts. Now, factor in the rising tide of AI-powered innovation. It necessitates yet another group of specialists to join the fray, working in tandem with the aforementioned experts.

Furthermore, with the unique business model of healthcare in the United States, there's a clear gap between invention and innovation. While invention refers to the genesis of a novel scientific or technological idea, innovation embodies the translation of this idea into a tangible product or service that benefits users and they can actually get access to it.

The journey from ideation to user adoption isn't straightforward. Key challenges in this phase include:

• Expertise Shortage: There's a considerable lack of professionals who possess a deep understanding of health technology and its financial ROI implications.

• Regulatory Hurdles: Navigating the maze of regulatory standards and requirements can significantly slow down the deployment of innovative solutions.

• User Adoption: This encompasses not only the initial uptake of the technology but also the essential components of user education and sustained engagement.

A Proposed Model for adopting Health Innovation in organization

For large organizations equipped with resources for health innovation, a structured approach is imperative. Picture three interlocking gears:

• Product Innovation: The birth of new health ideas.

• Organizational Innovation: The corporation's internal transformation to accommodate and nurture these ideas.

• Adoption and Deployment Innovation: Ensuring these ideas are realized as products or services and reach the end users.

The challenge? Getting these gears to engage cohesively and rotate simultaneously. It's a complex task, but one that holds the key to truly transformative health innovation.

Join the Conversation

How do you envision a pathway to overcome these challenges? Whether you're part of a behemoth organization on the hunt for the next groundbreaking idea, a diligent researcher at the forefront of scientific discovery, or a startup leveraging tech to bring innovation to users, your insights are invaluable.

If you're dedicated to health innovation and recognize these challenges, let's collaborate. If there is one fact about healthcare it that It’s a complex task no one can address alone.