Grand Rounds is a health technology company that provides an employer-based solution that connects patients with healthcare information and real-time decision support from leading clinicians. The San Francisco-based company has built relationships with venerated provider organizations across the US. Grand Rounds’ technology-based approach disrupts the traditional model of care.
Grand Rounds and New York-based Hospital for Special Surgery have partnered on launching and implementing the medical institution’s virtual second opinion platform from one of the hospital’s orthopedic or rheumatology experts. At the 2016 Oliver Wyman Innovation Summit, Grand Rounds Co-Founder Rusty Hofmann, MD, and Justin Oppenheimer from the Hospital for Special Surgery discussed innovator-incumbent partnerships; and they explored how disruptive technology can be incorporated in non-disruptive ways. Here, Dr. Hofmann shares some lessons from his Grand Rounds experience.
Incumbents do your job, innovators do your job: Always focus on your core competency.
Any form of disruptive innovation requires taking risks and challenging norms; our partnerships have been able to successfully move past any points of adversity largely because the providers we partner with continue to focus on their core competency: providing excellent care. They find the right technology partner and lean on them for solving challenges of access, supply and clinical navigation through digital tools and services.
Today, Grand Rounds has successful relationships with leading medical institutions, like the Hospital for Special Surgery, where we are solving challenges around access/reach, supply and clinical navigation. We’re also actively developing access partnerships where we direct employee customers to the leading medical institution. These partnerships are forming the foundation of new models of care and new care team formations, leveraging technology to connect patients with the best in healthcare.
In order to build successful partnerships, you need to align incentives.
We learned that an immediate connection between leaders of both organizations is imperative; it all starts with alignment on the vision for the partnership and that both parties are going into the journey with good intent. With this common vision, we commit to being flexible and to building something new together that will continue to get better over time.
You have to get both the patient and provider experience right.
Many vendors and telehealth companies provide platforms and services that are tremendously useful to the patient, but don’t consider the provider side of care delivery. We think it’s important to think about the physician experience, as much as the patient journey, in order to make a lasting and wide-reaching impact within the existing healthcare system structure. In traditional healthcare systems, physicians spend valuable time sifting through paperwork, when this time could be spent with patients. Grand Rounds saves physicians this precious time through an organized electronic record system loaded into the cloud, creating a service that is easy to navigate and ultimately time-saving.
Don’t fear the future.
The healthcare landscape is changing rapidly, as patients become more empowered and take a more active role in their healthcare choices. As a result, we need to focus on creating meaningful and innovative solutions for employers, providers and patients. Our health system can no longer rely solely on traditional models of care.