TechSpring's innovation project process is designed to deliver learning and proof points while minimizing effort and complexity. Our key goal is to get something done! Our process and program management create predictability around an innovation engagement. We also have models & solutions to overcome legal and compliance challenges related to innovation projects.
TechSpring Project Definition
Conducted in vivo
TechSpring innovation projects are experimental pilots, in a live healthcare environment and/or with real healthcare data, designed to identify and overcome adoption barriers and to prove the value of the solution.
This is not a lab experiment (in vitro), though. Project will only go forward with engagement and direct participation from key stakeholders that would be involved with long term operation: Baystate clinicians, Baystate IT, Baystate Finance, patients, etc.
Designed to learn something
Each project is focused on confirming or disapproving key assumptions. What needs to be learned? What needs to be proven? We design them backwards: after goal is agreed upon, innovation projects are designed around minimum effort needed to reach these goals (MVP equivalent).
Structured for success
Every innovation project has a project charter, as a basis for executing the project. The charter describes what will be learned, what are the key tasks, timeline, resources & responsibilities as well as the budget.
Succeed or fail - fast! Innovation projects are simplified and minimized in scope to speed up execution and limit investment for all parties: Target duration of 3-4 months.
Innovation Project Process
Your TechSpring Innovation Program Manager is your guide through the innovation process
The TechSpring Steering Committee formally approves the project, progression through each gate and can allocate resources. You must capture the imagination of the steering committee; high level buy-in is required to ensure a project's success. TechSpring leads the engagement.
Advisors work with TechSpring, Baystate and the Innovation Partners to give feedback and guidance on proposed projects.
For each domain (clinical, IT, finance, facilities etc...) Baystate will provide an Executive Sponsor who will work with the team to remove barriers, allocate resources, and mitigate risk
A Champion in each domain is assigned to each project. The champion is accountable for success of project and coordinates with the resources allocated to the project from their domain
Innovator provides a Project Manager who can drive and coordinate all project participants and activities. The responsibilities of a Project Manager include:
- Keeps a list of the project participants with roles and responsibilities clearly defined
- Accountability for documentation of the scope, resources, budget and timeline for the project
- Leading weekly status call
- Tracking action items and publish after meetings
- Creates a location for the project files and establishes revision control
- Document a project plan; track project and risks
- Other key resources, as needed ...
- Project leadership is comprised of Innovation Partner representative, TechSpring Innovation Manager, Baystate Executive Sponsors & Champions. All significant project changes are approved by this group.
Key Project Documents
Statement of Interest (SOI) - concept paper
1-pager description of the proposed project; completed by prospective Innovation Partner. Most easily done through this simple web form.
Project Charter is the pre-cursor for a more detailed Project Plan that gets developed immediately once an engagement enters Active Project phase. The Project Charter is typically 3-5 pages with following headings:
- Objective & Scope
- Goals & Measurement
- Resources, Roles and Responsibilities
- Milestones and Timeline
The main function of this document is to identify all key stakeholders and assure their buy-in, before an engagement enters Active Project phase.
Key Legal Documents
Innovation Partner Agreement (IPA)
Similar to a Master Services Agreement (MSA) between two entities. TechSpring is the service provider. Spells out the legal obligations between both parties, governing law, IP, compliance, indemnification, confidentiality, etc. All SOW’s are “collected” under the IPA and/or refer back to the IPA as the governing document.
Statement of Work (SOW)
A description of one (of perhaps many) engagements between the two parties. It is the legal version of a Project Charter. It defines one specific project, its goals, deliverables, and when and how the unit of work is completed by TechSpring and Baystate Health.
Sounds good. How do I get engaged with Baystate?
- Submit a statement of interest. TechSpring will collect feedback from a range of stakeholders and advisors and come back with questions, suggestions for changes, possibly meeting invitation, etc.
This is not 'healthcare as usual'. Who funds this work?
- Each party carry the cost of their own participation in an innovation project. It's a mutually committed collaboration. If Baystate and an innovator agree on scoping and subsequently an active project, and facilitated by TechSpring, we ask innovator to be an Innovation Partner of TechSpring. Sponsorship cost depends on project complexity and resource demands, but should be anticipated in a range from $5,000 to $25,000 per month. Yes, it costs money, but you get a project team that is committed to your success.
I have a great product. I want to sell it to Baystate. Why pay to be Innovation Partner of TechSpring and Baystate?
- If you want to sell your product - go for it! No charge! It doesn't involve TechSpring.
- We have established TechSpring to create dedicated workforce and resources to overcome the innovation and adoption barriers slowing down introduction of badly needed new solutions in healthcare. To keep the cost down, TechSpring is very lean and not providing services or work that should best be done by the Baystate folks on the front-line of healthcare delivery (clinicians, IT, etc) or the innovators themselves.
How much equity do I have to give up? What about IP?
- We are focused on keeping things simple and getting projects done. As a principle, we feel equity, royalties, and IP rights adds unnecessary complexity and slows everybody down. We prefer to keep it simple and ask innovator to pay for value received on a month-to-month basis.
- There are rare exceptions; we're discussing venture model/equity with professional investment partners, but that's in the future ...
Click on the link above and complete simple one-page online form.