Brief 2: Innovation in Healthcare

Innovation in Healthcare

Area of Interest

Healthcare

Themes

Systems and services, self service, quantified self, self diagnosis, smartphones and devices, workload management, resource management, Big data in healthcare, Medical devices that do not require years of medical testing and certification, document management, credentials verification, digital identity, locum management.

Brief

To create new products and services to save money, more efficiently utilise healthcare resources, and improve care provided to patients. This is within the context of every increasing demand for the services provided. We need to revolutionise the way healthcare is carried out and do it in a way that provides a progression path, starting from old legacy systems, through to a modern scalable architecture that can deal with change.

The Problem

In short, the NHS is overwhelmed. Analysis has been conducted from every angle, identifying causes that range from: £30bn funding gap, through to an aging population. However, the clear message is that whichever way you look at it, there are too many people and too much inefficiency in the way they are handled. As a result, costs are too high.

What we do know is that when NHS Providers surveyed organisational leaders they cited workforce gaps as their biggest challenge. (5) This aligns with numerous surveys of frontline clinical staff who cited workload, workforce, and rota gaps as their main causes of stress and the biggest threats to patient safety. (6) (7) (8) Those same organisations reporting to NHS Providers found around one in 10 consultant, nursing, and allied health professional posts unfilled—and more in busy acute specialties and some regions.

Another fact we do know from anecdotal feedback is that NHS staff still regularly have to use crude DOS based systems which have ridiculously poor functionality. “If I want to refer someone to another part of my organisation…that uses the same computer system, I still have to fill out a form copying a lot of the information that is already on the system, and send a paper copy.” Neil Parker – Mental Health Nurse With 25 Years Experience.

We need better systems, ways of engaging with doctors and hospitals, allocation of people, remote diagnosis, and improved service provider relationships, data management, and more.

Type of Ventures

If you have (or are working on) a solution in this space we’d love to hear from you. We believe that big challenges like this are solved though collaboration and partnership; and there is value in contributing clear thinking and working with others towards a common goal. What we are looking for is:

  • Anything that allows self service in healthcare
  • Self diagnosis using web tools and smart phones or devices
  • Improved use of smart phones between patients and doctors
  • Systems to manage infinite demand
  • Improved workload management for healthcare professionals.
  • Quantified self capabilities that assist healthcare organisations
  • Platforms for resource management
  • Services to verify locum credentials
  • Identity management that integrates with legacy systems
  • Big data in healthcare
  • Medical devices that do not require years of medical testing and certification

Initial Evaluation Criteria

The initial criteria we will use for establishing if your venture is a good fit for the brief is about the potential disruption your venture could create. For example: Does you venture fundamentally change the way resources are used?

To measure disruption we assess the following questions:

  1. What is the probability that this is highly disruptive?
  2. What is the size of the impact expected?
  3. What is the length of time required to create the disruption?
  4. How much money is required to create the impact?
  5. What are the barriers to creating the desired change?
  6. How long will the impact last once its achieved?

Target Markets

UK NHS

Applications

Ventures may apply at any given time during the Application stage. Applications that are received after the cut off date of midnight on 31 March 2019 (GMT) will be considered for the 2019 Cohort 2 activity scheduled for the second half of the year. Please see the full timetable.

Applications may be submitted by completing the following application form, or by emailing us on: applications@genesys-vc.com.

What’s on Offer?

Genesys provides Ventures with an 21 month incubation programme including matching to investors.

Investments of £150,000 for 10-15% equity are typically made in stages throughout the programme. (Learn more)

Discussion & Clarification

If you have any points that you would like to clarify, or if you would like to ask a question about this brief please do so in the comments section below.

Similarly, please can we encourage anyone reading this brief to contribute your thoughts and knowledge on this topic. Specifically, if you have come across good thinking, research, or innovative products in this area then please will you be kind enough to post a link into the comments below. This will help everyone involved to develop an understanding of where the ‘edges’ of this growing area are. Thank you…

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