Digital Health Investment Red Flags To Look Out For, Per 9 Hospital Innovation Execs

Final month, hospital innovation leaders shared with Becker's the No. 1 factor they search in a possible innovation funding. Now, they're detailing what pink flags to look out for.
Editor's notice: Responses have been calmly edited for readability and elegance. 
Thomas Graham, MD. Chief Innovation and Transformation Officer at Kettering (Ohio) Well being. These colleagues who carry titles involving innovation, transformation and technique. CIOs and CMIOs are getting inundated by each natural (coming from one’s personal establishment) and exterior alternatives to discover new digital well being investments. Actually, that's excellent news for the way forward for healthcare supply. 
Nonetheless, whether or not the brand new providing is intramural versus emanating from an rising firm or established entity, we should filter these rigorously. Our strategy features a disciplined analysis course of and guidelines: Is the brand new device a "purchase or a construct," which means will we already keep capability/functionality? Will or not it's accretive, not redundant, to platforms we're already working? Does it ship a measurable end result? Will the connection resemble a partnership vs. a vendor-client association? Does it interface with or additional activate our EMR? Is the providing mission-aligned and strategic for our enterprise?
Any new funding we make should improve entry, enhance outcomes, elevate affected person expertise and/or handle price of care. 
Daniel Durand, MD. Chief Scientific Officer at LifeBridge Well being (Baltimore). I search for the next pink flags, that are sufficient to knock out simply 80 % of potential investments in digital well being:
  1. Have they got a authentic sustainable aggressive benefit?
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