Post on 13-Jun-2020
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FRUGAL INNOVATION:A wise approach to delivering better care at lower cost
Copyright © Navi Radjou
Dr. VISHAL RAO(Oncologist by day.
MacGyver by night!)
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1
« SPEECH IS A RIGHT, NOT A PRIVILEGE »
Photo: newslaundry
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microscope (Foldscope)
Prof Manu Prakash
(Stanford University) Photo: TED.com
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1
Copyright © Navi Radjou Photo: Cybulski J, Clements J, Prakash M
Copyright © Navi RadjouPhoto: Cybulski J, Clements J, Prakash M
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RESOURCES
VALUE(S)
Frugal innovation
Copyright © Navi Radjou
RESOURCES
VALUE(S)
Frugal innovation
•Economic
•Social
•Environmental
•Capital
•Energy
•Time
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RESOURCES
CARE
Frugal innovation in healthcare
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RESOURCES
10x
10x
CARE
Frugal innovation in healthcare
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Frugal innovation
RESOURCES
100x
100x
= DISRUPTIVE innovation
CARE
Copyright © Navi RadjouSource: Heartfelt Technologies
$20,000
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Jane ChenPhoto: Sandy Nicholson
Copyright © Navi Radjou Photos: EMBRACE
JANE CHEN
$200
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+ 250,000 babies saved !
Photo: EMBRACE
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Frugal innovation
SUFFERING
= WISE innovation
JOY
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HOW CAN YOU ADOPT
FRUGAL INNOVATION?
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The 3 levels of frugal innovation
Frugal
products
& services
LEVEL 1
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Frugal products
$200$1
$1
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Frugal products must embody 5 key attributes
AFFORDABILITY
SUSTAINABILITY
1 2 3 4 55 4 3 2
5
4
3
2
1
1
2
3
4
5
SIMPLICITYQUALITY PURPOSE
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The 3 levels of frugal innovation
Tactical
competitive
advantage
Strategic
competitive
advantage
Frugal
business model
LEVEL 1
LEVEL 2
Frugal
products
& services
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MAC 400 MAC i
Frugal business model: GE Healthcare
Photos: GE Healthcare
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Frugal business model: GE Healthcare
VSCANPhotos: GE Healthcare
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GE Sustainable Healthcare Solutions (SHS)
Photo: GE Healthcare
Terri Bresenham
Chief Innovation Officer
GE Healthcare
• Mission: Affordable solutions
for 5.8 billion people without
healthcare access
• Strategy: Build ecosystems
with governments, clinicians,
startups, NGOs
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The 3 levels of frugal innovation
Tactical
competitive
advantage
Strategic
competitive
advantage
LEVEL 1
Frugal
mental model
LEVEL 2
LEVEL 3
Frugal
business model
Frugal
products
& services
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£2
billionCost of heart
failure per year
(NHS)
75%Avoidable
repeat
emergency
admissions
Copyright © Navi RadjouSource: Heartfelt Technologies Source: Heartfelt Technologies
Frugal mindset #1: Prevention is better than cure
Copyright © Navi Radjou Photo: Heartfelt Technologies
Heartfelt Technologies
Copyright © Navi RadjouSource: Heartfelt Technologies
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Frugal mindset #2: Do not reinvent the wheel. Reuse existing knowledge & technologies
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Frugal mindset #2: Do not reinvent the wheel. Reuse existing knowledge & technologies
Photos: Evan-Amos, SimonWaldherr
$5
Raspberry Pi
$35
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Frugal mindset #2: Do not reinvent the wheel. Reuse existing knowledge & technologies
=FEET RECOGNITION FACE RECOGNITION
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Frugal mindset #2: Do not reinvent the wheel. Reuse existing knowledge & technologies
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Copyright © Navi RadjouPhoto: Helix Centre
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R&D
PATIENTS
SUPPLY
CHAIN
CARE
DELIVERY
Frugal mindset #3: Don’t innovate alone.Co-create solutions with all value chain partners
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CO-DESIGN
Frugal mindset #3: Don’t innovate alone.Co-create solutions with all value chain partners
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SUMMARY
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Frugal Innovation:Doing (much) better with (much) less
RESOURCES
100x
100x
CARE
Copyright © Navi Radjou
The 3 levels of frugal innovation
Tactical
competitive
advantage
Strategic
competitive
advantage
LEVEL 1
LEVEL 2
LEVEL 3Frugal
mental model
Frugal
business model
Frugal
products
& services