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The NHS is prioritizing innovation to enhance patient care and improve economic efficiency. We face challenges in understanding the effectiveness of our investments in innovation. This initiative targets key stakeholders, seeking actionable insights and measurable outcomes. Our project aims to develop a dual online-offline framework for data collection and valuation modeling at the NHS level. Collaborating with NESTA and international organizations, we will explore broader applications and refine metrics that align with global standards, ensuring that our innovation efforts yield valuable social and financial returns.
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Why Innovation…… CE Priority Patient Economy
Why measure, and what…… We are investing significant sums of money in innovation, we need to understand what return (social & financial) we are getting. Nurses Incremental Innovation Incremental Innovation
Next Steps • At an NHS level, the next phase of this project is to develop both an online and offline framework to collect data from the NHS and to further development a valuation model. • At a national level, further co-development with NESTA to strengthen the proposed framework and explore its wider applicability to the public sector would be beneficial. • At an international level, further co-development with international organisations to strengthen this framework and explore its wider applicability to international innovation measurement and comparison would be beneficial. • A more detailed study of how these metrics would complement international metrics work underway would also be of value.