What if? Innovators think about this question every day. They see a problem, a challenge, a barrier, and they automatically see an opportunity. Increasingly, health care is attracting and inspiring innovators, as practitioners and providers alike are seeking better ways to provide quality care, share information, document and analyze data, and ensure safety as patients move through the continuum of care.
If not for innovators, we wouldn’t have software that enables us to share information in real-time, devices that track patients if they wander, or technology that enables virtual physician visits. Last year, AMDA–The Society for Post-Acute and Long-Term Care Medicine held its first Shark Tank competition, based on the popular television show, to recognize and support innovative ideas and technology.
Steven Buslovich, MD, MSHCPM, was one of the 2018 Shark Tank winners. Co-Founder and CEO of Patient Pattern, he won for innovative software that enables medical directors to manage and oversee their entire facility population, identify priority at-risk patients, and provide meaningful outcomes.
Working as a medical director himself, Dr. Buslovich realized that he had few population health and surveillance tools at his disposal and too often felt that he and his team weren’t getting the “big picture.” He envisioned software that would help practitioners and others provide better care. He and his team started by developing an evidence-based frailty index that let practitioners calculate a frailty risk score predictive of high-risk outcomes such as readmission or the need for specialized care such as wound management and the likelihood of the patient’s ability to improve or decline. As a result, he says, “We can provide proactive, patient-centered care.” He adds, “The idea is to give clinicians the right tools to impact care in real-time at the bedside.”
There has never been a greater need for innovators and for new tools in a field, says Dr. Buslovich, that is essentially tech and data naïve. Health care, particularly long-term care, is “pretty much the Wild West of technology and data analytics. There is so much room to innovate. If we can power future clinicians with the right tools, they can accelerate innovations even further and faster than we do today,” he says, adding, “This will incentivize others coming into the field. We need data and technology that works for us that we have a hand in developing.”
Dr. Buslovich shares some keys to being a successful innovator:
- Research your idea. See if others would find your idea useful. “It has to work outside of your mind. Innovation is about executing on ideas. That is where most ideas fail—on execution,” he says.
- Create a business model. “You need a well-thought-out execution strategy. You need to investigate all of the elements required to execute an idea,” he says. If you don’t have the skills to do this, seek help from someone with the necessary knowledge and experience. For instance, some local business groups have retired professionals who offer free assistance with business planning and marketing strategy development.
- Prepare for failure; plan for success. Not every idea will be a winner, and even winning ideas may not take off right away. If the numbers aren’t working and the interest or market doesn’t seem to be there, you can always shelf an idea and go back to it later.
- “You need a specific type of stubborn mindset. You have to be willing to learn from stumbling blocks, listen, and keep an open mind,” says Dr. Buslovich.
- Be committed. Dr. Buslovich says, “You have to be willing to work 24/7 to actually execute something well. There is no such thing as a 9-5 innovator. You have to be willing to sacrifice some things. You need to be 100% committed. It can be grueling.”
- Build the right team. Find a small number of like-minded people who know what you’re talking about and share your passion. Seek and listen to their input. Utilize their skills and expertise.
“Timing is everything,” Dr. Buslovich says. “You may have the best idea, but it you don’t execute it at the right time in the right market with the right market fit, it won’t be successful.” He suggests “time boxing” your idea—give it all you’ve got for six months or so. If you don’t accomplish reasonably set milestones, be prepared to set it aside and put your energy elsewhere. Dr. Buslovich says, “Set aside resources—this is what I will spend and this is how much time I will commit. Then when the time is up, sit down and see if you’ve met your goals. If you are still unsure, get an objective opinion from an advisor or mentor.” He stresses, “You don’t want to waste time on something that isn’t the best opportunity for you and miss out on something else.”
Learn more about Dr. Buslovich’s software by visiting www.careteam.md.