All too often, organizations' innovation initiatives are purely surface-level: establishing an innovation hub, installing a chief innovation officer and deploying high-tech tools that do not actually drive value.
Innovation
In early July, UC Health announced the appointment of Michael Legg as vice president and the Cincinnati-based health system's first chief data and analytics officer.
Much of the progress made in healthcare in recent decades stemmed from advancements in biotechnology, but in the years to come, digital technology and artificial intelligence will take over as drivers of innovation.
Ciox Health, the Alpharetta, Ga.-based provider of the HealthSource clinical data analytics and management platform, announced on July 25 a $30 million equity investment led by Merck's Global Health Innovation Fund.
The United Nations' World Intellectual Property Organization released its annual Global Innovation Index on July 24, including a ranking of the most innovative nations.
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Pinterest is rolling out new capabilities on its mobile app to provide users with stress relief and self-compassion exercises based on their search history.
Unlike traditional value analysis undergone when an organization launches a new innovation, selecting a new crowdsourced or open innovation idea to pursue should be based primarily on efficiency.
Even as healthcare startups move toward "need-based innovation" and away from the traditional tech strategy of building a viable product before identifying an application and consumer base, they continue to face major institutional challenges in implementing their innovations.
Health Catalyst, a Salt Lake City-based provider of data analytics services to healthcare organizations, raised the proposed size of its initial public offering on July 23, Renaissance Capital reports.
University of California San Diego will launch a new center that will use neuroscience technologies to identify and study brain activity associated with empathetic behavior to develop training programs geared toward improving clinician burnout.