Tag: value

Stamen Popov, the Novartis Oncology Business Unit Head for Bulgaria & Macedonia was a keynote speaker at Webit.Festival 2017. His keynote covered the topics about the “from cost to value ” conversion in healthcare and treatment.

Healthcare spending is increasing faster than than the current economic climate’s capabilities

Many countries are concerned that higher spending doesn’t lead to proportionally better outcomes. Healthcare systems waste a significant amount of resources that limits the fiscal space and hinders performance. The largest percent of wasted resources goes to over-hospitalization, over-examinations and over-prescription of pills. Waste is also created by inefficient or flawed rules, overly bureaucratic procedures and poor execution or lack of best practices, e.g. effective preventive care or patient safety, low volume for specific treatments per hospital, etc. Mr Popov made a point that the most expensive pill appears to be the one which hasn’t delivered any positive effects to the patient. The pricing in the industry has to start evolving with accordance to the fast paced changes in technology and the development of new ways of treatment. Companies should to be paid for a result delivered, not for a specific pill. A shift needs to be made in pricing, away from what has been a transactional approach to a value-based approach. That should mean focusing on the outcomes and really communicating the value of the medicines and pricing them accordingly. Care routed in outdated habits, ignoring scientific findings and motivated by something other than optimal care shouldn’t be the care of today.

Focusing on value-based care, reducing waste and directing investments to the point where greater value can be produced is critical for sustainability.

Universal health care aspirations will be hard to materialize if we don’t shift to value-based care and change policies to support this shift. This change requires collaboration with every member of the healthcare ecosystem and better public-private partnership. Healthcare systems should stimulate more effective treatment results with the help of all parties involved in the process - patients, medics, researchers, healthcare providers and pharma companies.   If you want to stay up-to-date check the Webit.Festival website for upcoming speakers and our ticket options.

Apply for our Founders Games and get the chance of being among the 200 startups presenting their innovative idea in front of investors, business leaders and all attendees of Webit.Festival 2018. Corporates & startups. Two forces of the business world which are as much different as they need each other. Brian Collins (AngelHack), Jonas Jacobi (IBM) & Matthias Schanze (Siemens) put some light on this complex relationship Mr. Schanze described as”Dancing with an elephant”

The open API (Application Programming Interfaces) revolution took of 5 years ago

A familiar example of APIs in action is the ability to sign into different accounts or services with our Facebook login. We can log into Pinterest, for example, by using our Facebook login credentials. That revolution was built on the idea that corporates could start opening up their technology for developers & startups. By doing so they were able to find a whole new strategy. In that way, the strategy shifted. It shifted from a B2B or a B2C focus to a Business to Developer focus. As such, innovation programming quickly went on the rise. Corporates began looking at developers and startups as a whole new strategy to their strategic plans and in doing so they’ve started working and finding ways to engage with startups & developers at an earlier and earlier stage.

Why the relationship between startups & corporates is important

Big companies have more than enough funds to put in place and do their own research. What these companies have noted is that a lot of innovation occurs outside the company itself. That’s one of the main reasons companies like IBM, Siemens and others of this size have been involved in the startup ecosystem for quite some time already. Startups do set trends and it’s important for large corporations to always keep an eye on new trends and new technologies that are emerging fast. So what are these companies looking for? Big ideas. Great technologies. And innovations. Innovations that disrupt industries and possibly create new markets. Transformation, not only for the company itself but for its clients as well.

Value proposition to the corporates

Corporates are well aware that they cannot invent everything by themselves. Co-creation and co-innovation with startups is a key point of their development. The transition is turning from internal Research & Development departments inside of corporates towards creating an external community, a liquid R&D force in essence. There’s the notion that most big corporates engage with, acquire or invest their funds in startups that already make some millions of revenue but in reality that is not the case anymore. The practice of an early engagement has grown immensely and that calls for more fair chances for more startups.