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.

Challenge

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

Solution

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.

Impact

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.

Get in touch

Inspired by this case and interested in setting up a similar collaboration?
Get in contact with one of our experts!

Share this case

Share on linkedin
Share on facebook
Share on whatsapp
Share on email

Other cases

Crafting new packaging solutions for ABInBev

Ideation brainstorms and co-creation workshops for ABInBev.

Launching 2 new ventures with ING

Discover how we built 2 new ventures with ING during a changing banking climate.

Engie: 3 new ventures & an invigorated innovation strategy

From innovation strategy to corporate accelerators: 360° innovation support for Engie.

Bringing a successful product concept to market with O-I

A journey from sticky notes to rapid prototyping, to real-world innovation.

The Future of Mobility and the opportunities for Toyota

Together with Toyota's foresight team, Board of Innovation took on the challenge to document a wide spectrum of shift that could impact the European market.

5 customer-centric business concepts for TD Bank

Boosting capabilities and techniques of TD's center of excellence.

Social change: HIV prevention in Myanmar

Scaling up and achieving sustainability of high-quality HIV prevention and treatment services in Myanmar.

How KLM developed 3 disruptive digital concepts

Facilitating the KLM’s Disruptive Field Day.

Building an innovation culture with Cigna Health Insurance

We partnered with leading health services provider Cigna to build an internal innovation capability geared towards solving business-critical challenges in local markets around the world.

Building an innovation culture within Thomson Reuters

How-to-startup coaching for global intrapreneurs in Thomson Reuters.

32 new business models for Valmet

Securing new profitable innovation growth whilst developing an intrapreneurial innovation culture and mindset.

An actionable innovation strategy for SOS Children’s Villages

We enabled the NGO to co-develop an innovation framework, re-map ongoing projects, and align innovation efforts internationally.

Shaping and executing a multi-year Growth Strategy

Sappi, a leading global provider of sustainable woodfibre products and solutions, engaged with Board of Innovation in a strategic multi-year partnership.

100+ Total executives trained in Design Thinking

Hands-on training in design thinking for management and talents in Total.

New concepts for the Chinese market with Danone

How we helped Danone create 8 food and beverage concepts for the Chinese market while training staff in practical business design methodologies.

2 business concepts funded by Unilin

A story of intrapreneurship, talent management, innovation, and technology.

Successful solutions for Blue Box Partners’ clients

Helping Blue Box Partners collaborate with customers to co-design Amazon certified Frustration-Free Packaging solutions.

Building internal capabilities for ING

Innovation transformation program, train-the-trainer tracks, and corporate accelerators: tailored initiatives to keep ING an innovation-driven company.

Designing and testing 7 products in 7 months

We partnered with Almarai on the development of an accelerated innovation process, resulting in the launch of new food and beverage ideas.

An airtight business model for self-diagnosis app Caidr

Healthcare company Clinova asked us to challenge their business model and think like potential investors ahead of the launch of their symptom-checker app, Caidr.

Revolutionizing baggage handling at airports with Vanderlande

Corporate startup coaching, from ideation to RedDot Design Award: Board of Innovation for Vanderlande.

Redesigning the pension journey for AXA

How our co-creation program with bank and insurance provider AXA helped improve the pension sales process for brokers and redesign the customer journey.

Digital innovation strategy for Roche

We developed a digital health strategy and identified multiple growth opportunities based on changing patient needs and the rise of new technologies.

Transformation program for Proximus

Design thinking transformation program for Proximus, first telco in Belgium.

Industry specific experience

Let’s book a call to find out how we helped organizations like yours. We’ll give you detailed information about our industry specific experience.

Let's get in touch!

Dont worry, we aren’t going to spam you with emails or call you a thousand times. After you fill in this form, one of our experts will reach out and talk to you.