A value proposition clarifies to potential partners, supporters or other stakeholders, not just what you are offering, but why that offer is compelling. For a health innovation, product or service, you want your potential “buyer” or decision maker (who could be, for example, a C-suite executive, agency head, or policymaker) to know why your solution is uniquely able to best address that stakeholder's needs. Specifically, healthcare executives want to know that your value proposition makes strategic sense, can be executed in the current setting, is financially viable, and of course yields better outcomes for patients.
Those who participated in The John A. Hartford Foundation Change AGEnts 2014 conference appreciated this presentation, which provides a good overview of the basics of creating a health care value proposition. In addition, it offers specific insights from a healthcare leadership consultant, and a firsthand account from a Practice Change Leader who successfully pitched a new innovation her health system.
Value propositions are of course used widely in the business world, so there are many helpful resources created for a broader audience that can help those in health care craft a persuasive and compelling value proposition.
In an article from Forbes Magazine, entrepreneur and writer, Michael Skok explains the value proposition process in four steps--Define, Evaluate, Measure, Build.
For those who like an even simpler approach, MedLabs, a research group that investigates how people make choices, breaks the value proposition process down to just two steps: Identify and Express. You can view and download their Value Proposition Worksheet, and see if this process works for you.
- Video Clinic: Harvard i-lab: Startup Secrets: Value Proposition
- Book: Value Proposition Design. Osterwalder et al. (2014). Hoboken, NJ: John Wiley & Sons.