Baptist Health Fostering New and Innovative Ideas in Health Care
Through Sponsorship of HubX–LifeSciences
December 31, 2015
Baptist Health recently announced a joint effort to create HubX–LifeSciences, Arkansas’ first privately funded, health care-specific accelerator dedicated to helping the state’s entrepreneurs and innovators find support for successful enterprise development.
This business accelerator – which will help leading entrepreneurial talent develop new and innovative ideas to advance health care in Arkansas – was made possible through Baptist Health’s partnership with Arkansas Blue Cross and Blue Shield, Arkansas Regional Innovation Hub, and the Iron Yard.
The health care industry is evolving at a rapid pace, and it is presented with an interesting challenge in the current era of complex change and difficult regulations: Find new opportunities to improve efficiency, reduce costs, and leverage technology for the advancement of patient care.
But while the challenge is complex, the environment also presents a great opportunity for Baptist Health to seek out new and innovative ways to solve health care issues on a local, national, and even global scale through the help of entrepreneurs and high-quality resources from the HubX–LifeSciences partners.
At Baptist Health, we feel a strong responsibility to improve the health of Arkansans and play a role in changing the way health care is delivered. As a sponsor of HubX–LifeSciences, our role goes beyond treating a patient within a health care setting.
Through this partnership, Baptist Health will help to pave the way and become a pioneer for better health care delivery, health innovation, and business development.
Health care is moving past the days of a volume-based, fee-for-service world to drive improvements in the delivery of care at an improved cost. In recent years, the health care industry has transitioned to a focus on maximizing value for patients. Value is now driving the priorities of health care to focus around quality and cost-effectiveness of care.
In addition to a transition to value-based care, health care consumers are becoming more informed and are increasingly demanding more and new ways to observe and manage their own care.
Although this transition is already under way, challenges and opportunities still remain for reducing costs, improving patient outcomes, rethinking processes, developing new processes, and allowing consumers to become more involved in their own care.
The goal of HubX–LifeSciences is to address these problems, barriers, and opportunities to create potential solutions through avenues such as digital health platforms, new health care services, and innovative medical solutions.
The HubX–LifeSciences accelerator will enable startups to build innovative ideas with focused funding, mentorship, coaching, and technological resources available from Baptist Health, Arkansas Blue Cross and Blue Shield, and the Arkansas Regional Innovation Hub – all in a compressed time period.
Baptist Health has a strong focus on delivering patient-centered services and high quality care, and through this partnership the state’s largest health care system will continue to strive to find new and innovative ways to change the way health care is delivered and improve the health of Arkansas.
If you have a startup, or an idea for a startup, go to HubX.biz to apply or learn more.