In conjunction with the Vice President, Business Innovation Lab, other MedStar Institute for Innovation (MI2) leadership, MedStar Health clinical, research and executive leadership, charged with leading strategic business strategy, planning, and operational execution activities for the MI2 Business Innovation Lab, including expert diligence on technology capabilities and trends in market and investment activities related to emerging and established technologies, to inform collaboration, co-development, and/or IP licensing or new business creation opportunities in service of MedStar's strategic priorities; leading preparation of materials to brief MedStar Health Executive and Clinical leadership for decision-making; implementing strategic innovation collaborations in conjunction with multiple executive and operational stakeholders, including facilitating pilot testing and validation of product offerings, business casing and ROI analysis. Actively contributes to all aspects of Business Innovation Lab operations, including identifying issues, conducting market analysis, forming hypotheses, designing, and conducting analyses, synthesizing data and conclusions into recommendations, and operationalizing the implementation and scaling of those recommendations to create sustainable change.
Education
- Master's degree in business, health administration, finance, or related field required. required
- One year of relevant education may be substituted for one year of required work experience.
Experience
- 5-7 years Prior work experience in a project management or consulting capacity required and
- Must have demonstrated exposure to innovation, entrepreneurship and/or technology (in the healthcare industry preferred) required and
- Direct experience with incubation, acceleration, and other startup programs preferred and
- Familiarity with change management preferred
- One year of relevant professional-level work experience may be substituted for one year of required education.
Knowledge, Skills, and Abilities
- Excellent written and verbal communication skills, strong project planning and management skills, and demonstrated ability to lead formal and informal teams. Must be a self-starter and show an ability to fully own individual research activities while proactively identifying and driving the execution of forward-looking plans across the team. Outstanding analytical skills, detail-oriented, proactive and self- motivated. Strong knowledge of database and analytics tools such as Microsoft Excel including advanced functions. Experience with business casing and investment valuation techniques. Ability to produce well-designed, professional PowerPoint presentations.
Leads the development of market landscape analysis reports to help identify new technology and investment trends that align with potential business opportunities and strategic priorities by collating information from multiple sources, including internal and external subject matter experts, proprietary databases, media, academic reports, industry conferences, and other individual research.Performs substantial due diligence, including competitive analysis, on companies and/or technologies for potential adoption and/or joint collaboration through synthesizing findings from industry, company, investor experts and materials including presentations, research publications, and financial reports; drafts internal diligence memos to be shared with MedStar Executive Leadership and key external advisors and partners.Implements strategic innovation collaborations with third-parties that align with MedStar Health's priorities, including leading the pilot testing, validation/evaluation, and broader implementation of approved companies/technologies in collaboration with the relevant executive, clinical and administrative stakeholders.Builds, develops, and grows internal relationships vital to the success of each project; effectively communicates project expectations and relevant project information to all team members and key stakeholders in a timely and clear fashion. Identifies and manages project dependencies and critical path; plans and schedules project timelines and milestones using appropriate tools. Tracks project milestones and deliverables. Develops and delivers progress reports, proposals, requirements documentation, and presentations. Determines the frequency and content of status reports from the project team, analyzes results, and troubleshoots problem areas; proactively manages changes in project scope, identifies potential uncertainties and risks, and devises and implements mitigation strategies.Serves as an intake point for screening potential collaboration leads, including fielding meetings with prospects to evaluate opportunities and network for further leads; synthesizes and documents notes from multiple sources into strategy discussion documents.Performs structured business case analysis to provide a projected value proposition and return on investment for various deal structures.Evaluates novel concepts, including Intellectual Property, conceived by MedStar associates, or resulting from operational activities involving MedStar associates, that may have commercial potential; in conjunction with MedStar Legal, other clinical and executive leadership, and other external advisors and collaborators, creates business plans to inform potential for licensing to third-parties, or the creation of new businesses; leads execution of business plan up to and including handoff to third-parties.Estimates the resources needed to achieve program goals; drafts and submits budget proposals and recommends subsequent budget changes where necessary. Determines and assesses need for additional staff, consultants, and/or vendors and makes the appropriate business case, as necessary.Maintains awareness of leading-edge trends in healthcare innovation and technology and emerging early-stage companies, products, or services from multiple sources to understand potential opportunities for keeping MedStar on the cutting edge of applied innovation and technology, and communicates relevant information to leadership and associates.Represents MI2 via speaking engagements at internal and external events and markets MI2 programs and services to internal and external stakeholders and strategic collaborators, focusing on the promotion of MedStar as a high innovation organization.Identifies, recommends and supports other opportunities for the Business Innovation Lab to help MedStar transform its outcomes within priority focus areas; sources internally developed ideas, products or services that can contribute to the Business Innovation Lab mission.Leads and supports diverse aspects of driving an internal innovation culture, from helping identify fitting focus areas/partners, to shaping/executing outreach, to operating related logistics with participants in formal programs, to accelerating/measuring outcomes.Maintains an open network with peers and other leaders in healthcare organizations and investment funding sources.
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MedStar Health
Feb 28, 2025