Why Greek Healthcare Needs to Move Towards Hospital-Startup Partnerships

Corporate-Startup partnerships is emerging as an innovation model for large organizations in need for rapid renewal. For succeeding, both parties must have some degree of operational or competence overlap.

Let’s see why both large organizations and startups are looking into this kind of cooperative models.

The advantages for corporations

Large organizations are looking for startup teams that are working on new and untested technologies. In a sense, corporations are not looking to outsource development but instead in-source knowledge. Startup teams work faster, fail sooner and often cost less than putting togerther in-house teams. If a startup delivers on the promise, the corporation could move forward and acquire the team to continue working in-house. Working with startups early on, could also offer corporations a first mover advantage in new technologies

The advantages for startups

For startup teams, partnering with a large corporation can also offer substantial advantages. Large companies have extensive institutional experience and know-how. They have access to distribution channels and networks that would otherwize take years and lot of cash for a startup to develop. And of course, working a large corporation offers startups significant credibility.

But why Greek healthcare should be looking at this

Greek healthcare sector is in desperate need to reinvent itself. In fact, there is probably no other sector more in need for corporate renewal than the healthcare sector. The whole sector is going through a major transformational shift. Partly because of the fiscal constraints that are pushing for a generous pension reform, but also because of ongoing changes in demographics, an increase in chronic diseases and technological advancements in the medical profession.

Public hospitals, the cornerstone of the healthcare system in Greece, face a number of considerable challenges. The most important one, excluding political intervention, is availability the limited and often unreliable data. Public hospitals need to restructure their operations having on hand outdated (at best) information systems, processes and performance measurements.

Hospital-startup partnerships could eventually fill this gap. Hospitals need the technical knowledge, work ethic and innovative capacity that most startup teams can offer, in order to succeed in a transforming their operations and create new value for the communities they serve.

For startups partnering with a hospital also makes business sense, as the complexity of operations of healthcare providers usually inhibit startup teams from realising novel solutions. Establishing a pilot project with a healthcare provider is also an effective way for startups to validate their business models and products giving them the opportunity to iterate at a much faster pace than other startups.

Here are some potential areas for hospital-startup collaborations.

Clinical applications

Decision support systems, digital imaging, order entry systems, patient monitoring and research database access.

Administrative applications

Financial information systems, scheduling and registration, flow management , performance assessment, energy efficiency, warehouse management.

Home and distant care applications

Sensors and GPS, mobile reminders and alert systems, remote monitoring, home bots, patient social networks and telehealth.