Innovation Lifecycle Management: Innovation Failure

This section is your place to learn from others’ mistakes. Here we feature content that revolves around the phasing out of healthcare innovations. You’ll find case studies from past healthcare innovation projects that fell through. The learning points you’ll pick from here will enhance the chances of your success and keep you safe from the survivorship bias. Here are the two specific points that this section consists of: (a) Failure of innovation at diffusion stage – How an oversight by a health facility can lead to failure of widespread adoption and how to avoid such mistakes. (b) Difference between Failure, Exit, Retirement of technologies – We will talk about all the concepts related to phasing out of innovations and what each one exactly means. You’ll get to know the difference between concepts like Innovation, Novation, Replacement, Failure, Exit, and Retirement of healthcare innovations. With this knowledge, you’ll know what exactly to do with your innovation once its time is up.