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  • 1
    object(stdClass)#14567 (59) {
      ["id"]=>
      string(4) "6139"
      ["title"]=>
      string(29) "Welcome to the Hybrid Economy"
      ["alias"]=>
      string(29) "welcome-to-the-hybrid-economy"
      ["introtext"]=>
      string(118) "

    First came the agricultural economy and the industrial economy and then the service and the consumer economy.

    " ["fulltext"]=> string(6210) "

    Then, there was the sharing economy. Next came the experience economy and the ecosystem economy. Now, as a result of COVID, we have the hybrid economy in the midst of the 4th industrial revolution.

    The hybrid economy is characterized by organizations, industries and consumers/prosumers that combine digital and physical elements to their business models and buying habits.

    We have already seen how sick-care, tourism, education, consulting, financial services, fundraising, retail, airlines and hospitality are adjusting. Before COVID, all companies were digital. Most just didn't know it. More are now getting the picture because they have to to survive.

    Now, whether you are a startup, scale-up, grown-up or nonprofit, your value proposition and the parts of your business model canvas will require more hybrid elements i.e when can things be done remotely and when can things be done face to face.

    Welcome to the hybrid economy

    Many companies, some in sick-care, have embraced a digital marketing strategy. Few have gone much further than that.

    McKinsey has suggested this action plan.

    1. From ‘sleeping at the office’ to effective remote working.

    2. From lines and silos to networks and teamwork.

    3. From just-in-time to just-in-time and just-in-case supply chains.

    4. From managing for the short term to capitalism for the long term.

    5. From making trade-offs to embedding sustainability.

    6. From online commerce to a contact-free economy.

    7. From simply returning to returning and reimagining.

    Here are some things to incorporate into your digital strategy:

    1. An eCare strategy that is aligned with your other face to face (F2F) services

    2. Sub-segmenting your patient population by those that highly value convenience over F2F care and favor one social media plaform over another.

    3. An eCare infrastructure that integrates, coordinates and consolidates episodes of care to reduce hand off errors.

    4. A business model for eCare that is VAST. 

    5. Systems that comply with laws and regulations regarding privacy and security. Do we need to change HIPAA to advance care coordination?

    6. User interfaces that don't interfere with workflow and are easy to use and accessible on mobile devices.

    7. Specific to a given patient population.

    8. Gets the biggest bang for the buck. Remember, 5% of Medicare beneficiaries spend 50% of the budget.

    9. Interfaces with data translated into information to increase the effectiveness of analytical techniques designed to lower cost and minimize inappropriate resource utilization.

    10. Meets clearly defined clinical and business objectives like cutting costs or increasing revenues and market share.

    Most importantly, make sure your workforce has the right hybrid skills to do their jobs. For example, don't forget the people part of AI.

    Prepare for the hybrid economy by hiring people with hybrid skills capable of creating products and services that conform to the new environment and does the job your customers want you to do...safely and conveniently.

    Arlen Meyers, MD, MBA is the President and CEO of The Society of Physician Entrepreneurs on Twitter@ArlenMD and Facebook.

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    Welcome to the Hybrid Economy

    Arlen Meyers, MD, MBA
  • 2
    object(stdClass)#14566 (59) {
      ["id"]=>
      string(4) "6123"
      ["title"]=>
      string(49) "Innovation Readiness is Not Improvement Readiness"
      ["alias"]=>
      string(49) "innovation-readiness-is-not-improvement-readiness"
      ["introtext"]=>
      string(89) "

    Most of what you have read lately is about how COVID has accelerated innovation.

    " ["fulltext"]=> string(8400) "

    What might have taken 5 years to get to patients is now taking months, like telemedicine, supply chain speed and drug discovery and development.

    However, there is a difference between an idea, an invention, an improvement and an innovation. Sometimes what is really happening is not new at all, but simply an example of speedier dissemination and implementation across the chasm, frequently out of necessity.

    Standards-based reform is a series of improvement efforts with a focus on doing things better. Online learning and new learning models are examples of disruptive innovation–doing things differently to dramatically improve outcomes. Doug Lemov’s book, Teach Like a Champion, is about improvement. Clay Christensen’s book, Disrupting Class, is about innovation.

    Physician leaders occupy the next level and are expected to provide vision, direction and inspiration and drive the change process. Some see their role as incremental tweakers, leading to the painful and difficult process of changing the existing model. Others see their role as making the model obsolete. They typically try to follow John Kotter's 8 step change paradigm: unfreeze by creating a sense of urgency, changing behavior, and then refreezing the new behaviors to engraft them on to the culture and make them sustainable.

    Physician entrepreneurs take it one step further, taking advantage of an opportunity with scarce, uncontrolled resources with the goal of creating user-defined value through the deployment of biomedical and clinical innovation. Often times, their outcomes will be in conflict with physician managers who are there to protect, not disrupt, the status quo, or leaders who don't have the same vision.

    Some physician entrepreneurs are innovators, occupying a space in the upper right hand corner of the novelty-value matrix

    Innovation Readiness is Not Improvement Readiness

    Where you sit on the matrix is dependent on how much time you're spending on the now (lower left), the next (right lower) or the new (upper right quadrant). The upper left quadrant is the place in hell reserved for shiny new objects that create little or no user-defined value at significant multiples when compared to the competition or the status quo.

    For example, understood as a virtual army in the war against COVID-19, AI has vast stockpiles of potential weaponry with which to wage many a battle. That’s the good news.

    The not-so-good news is that potential, so far at least, is all the technology has to show for all the chest-beating of its enthusiasts. AI’s success or lack thereof in taking on COVID-19 is all a matter of data. Privacy regulations and balkanized data silos will stop you even before the antiquated, error-filled health databases do. That happens in Washington and state capitals, not in the data lab.

    Improvement readiness assessment and innovation readiness assessment, therefore, are not the same. While there are similarities, there are significant differences that determine the outcomes of a change initiative. Most of them have to do with how pervasive is the process of how those with an entrepreneurial mindset collide with an organization that has a culture of innovation, not just improvement.

    Here is what physician entrepreneurs should know about innovation and why it is a heavier lift than improvement.

    1. You need to lead innovators, not manage innovation.

    2. Innovative universities and organizations are not necessarily entrepreneurial.

    3. Patients and other stakeholders are your main source of opportunity to create innovation.

    4. Big Device should change their R/D models.

    5. You need an Innovation Management System to create impact.

    6. You need to clarify your innovation expectations and encourage innovators to go beyond them or dial them back. Sometimes tinkering is the first step towards something bigger.

    7. Have you validated your business model assumptions?

    8. Rules create ecosystems. Ecosystems drive innovative business models. Think, TV, the Internet, electric cars.

    9. Stop blowing innovation smoke and raise your innovation bar.

    10. Create user defined value through the deployment of innovation, not just companies.

    Post COVID you should not be asking yourself when we will return to normal. That ship has sailed. You should be shooting to make the old normal obsolete, not disseminating bad products, services and models to more people inequitably and calling it innovation.

    Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs on Twitter@ArlenMD and Facebook.

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    Innovation Readiness is Not Improvement Readiness

    Arlen Meyers, MD, MBA
  • 3
    object(stdClass)#14569 (59) {
      ["id"]=>
      string(4) "6081"
      ["title"]=>
      string(14) "Ode to Mothers"
      ["alias"]=>
      string(14) "ode-to-mothers"
      ["introtext"]=>
      string(113) "

    Day in and day out, I interact with mothers.

    " ["fulltext"]=> string(3312) "

    Sometimes I help women become mothers, sometimes I help women not become mothers. Sometimes I witness the heartache of losing a mother or losing the ability to be a mother. Sometimes I share in the joy of their child’s achievements or laugh at their crazy stories. And sometimes I see women become  mothers to children they did not birth.

    To each one of you I say:

    You are brave.

    You are brave to hold more sacred than your life the life growing inside of you.

    You are brave to willingly walk through the valley of pain to reach the land of motherhood.

    You are brave to open yourself and give every bit of your heart to another.

    You are brave to roar as a lioness to protect your cub.

    You are strong.

    You are strong to hold together your broken heart for others to lean on.

    You are strong to carry the weight of the world on your shoulders so others don’t have to.

    You are strong in your tears, you are strong in your laugh.

    You are strong in letting go.

    You are courageous.

    You are courageous in saying no.

    You are courageous in saying yes.

    You are courageous when you hear the cry in the night.

    You are courageous even when you are scared.

    And although you don’t hear it often enough

    You are loved.

    You are appreciated.

    You are a heroine.

    You are my heroine.

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    Ode to Mothers

    Andrea Eisenberg, MD
  • 4
    object(stdClass)#14574 (59) {
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      ["title"]=>
      string(55) "The Nameless Saviors in This Dangerous Time of Covid-19"
      ["alias"]=>
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      ["introtext"]=>
      string(201) "

    I’m ashamed of myself. I don’t know your name—anything about your kids, what they did this weekend.

    " ["fulltext"]=> string(4179) "

    I went through my Facebook friends list and I don’t think any of you are on it. I try to always say hello when I pass you in the hall, but I do that with everyone—sometimes it’s returned.  

    I can’t do my job without you. Without you I’m frozen in time. The entire hospital will come to a standstill. Yet I don’t know half of your names and I should.

    You are the ones that clean urine out of the sinks and human excrement off the floors. You mop liters of blood and vomit off walls and tiles, and IV poles and monitors. You scrub down Covid-covered bed frames, hepatitis- and HIV-soiled linens, and surround yourself with more guts and gore and hazardous waste on a daily basis than most of us would encounter in a lifetime. 

    You work nights and days, and weekends and all those moments when others might be sitting at home contemplating a day of blessings and sparklers and tinsel and turkey—and you do it mostly for survival and for those you love, I imagine. 

    Us doctors and nurses, we save the lives of some horribly injured and ill people on a daily basis. The carnage left in its wake is at times the stuff of our darkest nightmares. Now the world shines this light on us and the incredible first responders providing care in this dangerous of times.

    Housekeepers

    But I see you—wiping, washing, disinfecting, polishing, mopping, and making sure that room is sterile and safe and clean and ready for the next father or mother or son or daughter.

    You are my heroes, you are my salvation in this time of Covid.

    You are housekeeping . . . please tell me your name.

     

     

    Dr. Louis M. Profeta is an emergency physician practicing in Indianapolis and a member of the Indianapolis Forensic Services Board. He is a national award-winning writer, public speaker and one of LinkedIn's Top Voices and the author of the critically acclaimed book, The Patient in Room Nine Says He's God. Feedback at louermd@att.net is welcomed. For other publications and for speaking dates, go to louisprofeta.com. For college speaking inquiries, contact bookings@greekuniversity.org.

    Louis M Profeta
     

    Cover Photo By Emily Hallberg RN.

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    The Nameless Saviors in This Dangerous Time of Covid-19

    Louis M. Profeta
  • 5
    object(stdClass)#14573 (59) {
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      string(4) "6059"
      ["title"]=>
      string(44) "The 6Ms of Physician Social Entrepreneurship"
      ["alias"]=>
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      ["introtext"]=>
      string(478) "

    The COVID-19 pandemic has revealed glaring inequities in health outcomes. Global physician social entrepreneurs now have the opportunity to minimize them in the future.

    " ["fulltext"]=> string(3657) "

    The Social entrepreneur builds strong and sustainable organizations that primarily drive social innovation and transformation. 

    A social enterprise is an organization that advances a social mission through entrepreneurial strategies.

    If you have an existing non-profit or social enterprise or are planning to start one, you should focus on the 5Ms: mindset, mission, members,money, model

    MINDSET

    Innovation starts with mindset. The entrepreneurial mindset is as important for someone starting a commercial enterprise as it is for the leader of a social enterprise. Without it, you will fail.

    MISSION

    MISSION.png

    Start with answering the"Why?" before you try to construct and explain the what and how. 

    MEMBERS

    Your beneficiaries are the heros of your story. Your sponsors and stakeholders are the guides. How you tell your story will drive engagement.

    MONEY

    You have heard it before...no margin, no mission. You have to manage the profit and loss statement

    MODEL

    Most businesses will fail because they make a product or service no one wants or they don't have a viable business model. The same holds true to non-profits and mission driven organizations.

    The 6Ms of Physician Social Entrepreneurship

    MARKETING

    MARKETING

    Colleges and universities are businesses too, so, why aren't they run like one?

    Global social entrepreneurs are changing the world, now more than ever. Be the solution.

    Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs on Twitter@ArlenMD and Facebook.

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    The 6Ms of Physician Social Entrepreneurship

    Arlen Meyers, MD, MBA

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