The entrepreneurial mentality allows for the validating of many ideas with less money and resources. The key is to not spend years in development without ever validating the idea or product with an actual end user. That method is far too expensive and inefficient for an innovative culture. The beauty of the Center for Innovation is the ability to try, validate, and pivot improvements in healthcare delivery until a true clinical value is found. Regional One’s employees are integral, too. Regional One’s concept of advancing healthcare to meet our community’s needs began internally with “shark tank” style idea competitions. From that, 90 ideas were submitted and several are in implementation within Regional One, both in clinical settings and in operational settings, such as the creation of a “Text to Clean” program that allows any employee to create a janitorial request from their phone. “It’s all part of creating a culture of innovation that has roots inside our own healthcare system. As more ideas are tried and new lessons are learned, that innovation reaches out across the community,” says Dr. Reginald Coopwood. “We plan to play an important role in making more entrepreneurs want to choose Memphis,” continues Dr. Coopwood. “When that happens, our patients, our providers, our businesses and our entire community will benefit.” How You’ve Helped “Angel investing” is a common term in the entrepreneurship world and it means to provide the early-stage funding when a new concept is still being validated and iterated. Essentially, Regional One Health Foundation plays the role of angel investor for the most-promising employee and partner ideas that come through the Center for Innovation. Similar to any start-up organization or invention, making something actually exist takes resources. Did You Know? Since the launch of the Center for Innovation, two idea submissions from employees have moved to ‘In Pilot’ mode. One is focused on rate adjustments for anticoagulation medications and the other on Code Blue Events, both of which are crucial to the care we deliver. Philanthropy is crucial to the success of the Center for Innovation. Funding provided by Regional One Health Foundation donors cover salaries for staff, operational expenses, and tools that allow for the validating and further development of viable ideas. Additional funding is needed for our Center for Innovation to become a hub for incubating start-up partnerships that could benefit Regional One patients—and patients in healthcare facilities beyond our own. DONATE.REGIONALONEHEALTHFOUNDATION.ORG 26
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