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Where’s The Beef?

Article

In an effort to advance sick care and biomedical innovation, we are seeing the growth and development of many programs and platforms offering education and resources.

In an effort to advance sick care and biomedical innovation, we are seeing the growth and development of many programs and platforms offering education and resources.

The assumption is that they are creating user-defined value.

However, before things go any further, we should measure the true value of these offers. Some examples:

1. MD/MBA programs

2. Health service organization innovation centers

3. Accelerators, incubators, and generators

4. Collaborative online innovation networks

5. Bio entrepreneurship education programs

6. Professional science masters programs

7. Local ecosystems

8. Academic-industry knowledge exchange programs

9. Career development centers

10. Population health institutes

Defining and measuring user-defined values are not easy, since it happens at multiple levels including the entrepreneur and firm, the patient, the regional, and local economy and US global competitiveness. The outcomes also include not just clinical metrics, but also business and marketing ones as well.

My guess is that when we do this, we will find 20% of the offerings create 80% of the value. The challenge is to find which ones and why, and stop wasting time and resources on the other 80%.

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Victor J. Dzau, MD, gives expert advice
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