Business Model Transformation in Healthcare

We partnered with a Fortune 500 healthcare organization to transform them into a value-based organization with a new digital business model.


Transforming from a product to a solution and service business model

Digital products and business models are transforming the healthcare industry. Healthcare organizations want to transform themselves into value-based organizations and embrace new digital business models. In a large organization, with a portfolio of 100s of business and product lines, this is easier said than done.

Sound familiar? We can help.

We started a Community of Practice to develop our Business Model Innovation capabilities to the next level. We need this as many of our internal and external venturing activities are testing new business models to solve some wicked problems in the Healthcare domain. The approach helped us to explore how such a capability would look like and to unlock existing experiences and capabilities from internal and external sources.

Innovation lead


A strategic business model transformation initiative

With Board of Innovation we co-led the launch of a successful business model transformation initiative inside a large global healthcare enterprise, by launching a community of practice, focusing on the creation of a common language, framework and operating model for new business models across all parts of the global organization. The approach resulted in the creation of a new strategy, portfolio evaluation and governance model for new digital business models within the full +2B health innovation portfolio of the organization.


A global portfolio of new business models across all business lines

Strategy development:

The team developed a common business model framework to guide the creation, validation, launch and scale of new digital business models in the complex healthcare industry, supporting the transformation from product sale to digital service and platform models. This new framework is widely accepted and used across different levels of the organization. Business Model Innovation became a core part of the global strategy and innovation agenda. All new ventures apply the framework and way of working to support them in the implementation of new business models. 

Governance model:

A cross-functional ‘community of practice’ was set-up to lead the transformation in the organization in a ‘bottom-up’ fashion. Board of Innovation took a leading role in this team. The team evolved into a formal center of excellence with the support of senior executives. A director of business model innovation was hired, with the responsibility to create a portfolio of new business models reporting directly into the senior leadership of the organization.

Portfolio evaluation:

The community of practice applied the framework on +65 innovation projects. This created a common language and library of business model patterns that increased transparency and consistency in the role of new business models in the organization. 

A new way to evaluate the portfolio of new business initiatives was applied to the full (+2 Billion) R&D portfolio of the organization.
Key benefits of the new portfolio framework include:

  • Ability to invest in diverse new business models (in comparison to more traditional business models)
  • More focus on assumption validation (in comparison to traditional business case evaluation)

People Transformation:

People throughout the full organization are continuously sharing insights and learning from new business models via physical and digital platforms. A new Business Model Innovation module was created and added to the learning curriculum for strategic stakeholders in the organization.

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