Innovation themes - Wealth creation

Wealth creation is one of the primary goals of the Academic Health Science Networks, as set out in the Innovation, Health & Wealth report.

At the Health Innovation Network, we have put wealth creation at the centre of our programme of work and see it as a key enabler of value-based healthcare.

The primary objective of the Wealth Creation theme is to facilitate the cultural shift required to create an environment which fosters innovation and enterprise in order to enhance value of healthcare, and understands the importance of contribution from commercial partners.

This innovation theme is cross-cutting and is embedded in the work of all the Network’s clinical areas.

Our approach reflects the belief that wealth creation is broader and more encompassing than pure profit generation. There are many ways we can achieve this holistic wealth creation, including:

  • We will look at all our projects from a value-based healthcare perspective. This means that in addition to improvements in health outcomes and patient experience are balanced against full-system cost. All our projects are looking to improve value of the health or social care provided.
  • We are keen to engage with commercial partners on value-improving projects, and are enthusiastic to engage in joint working on initiatives where there is appropriate goal congruence.
  • We will also look a wealth creation from an economic growth perspective. This can come through projects that focus on improving population health, in order to provide a larger and more productive workforce and consumer base, which in turn makes an economic impact by minimising the cost of healthcare to the NHS.
  • We have ambitious plans to further contribute to economic growth by working with private enterprises that have scope to improve value of healthcare provision whilst boosting employment and tax revenues.

If you are interested in learning more about the Network’s Wealth Creation theme please contact Anna King, Commercial Director.