Innovation in Health Care

Running head: INNOVATION IN HEALTH 1
Innovation in Health Care
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INNOVATION IN HEALTHCARE 2
Innovation in Health Care
Innovation is the use of modern technologies in solving social, and economic issues.
Financial analysts have in many scenarios highlighted innovation as a key consideration that
firms should adopt to boost service delivery and financial performance. The article, “A closer
look at financial performance in healthcare” published on “Siemens Healthineers “website on
23rd of March 2016 highlights the importance of innovation in boosting financial performance in
healthcare. The article appreciates that high performance technologies that accurately assess
patient’s conditions promote cost-efficiency in healthcare. Big data technologies are also useful
in running efficient diagnostics of patients (Siemens Healthineers, 2016). Medical centers can
also manage their costs more accurately and hence enhancing profitability within the facility.
Innovation has had a significant impact on operations of King Fahad hospital among
many other Saudi Arabian health facilities. Innovation has created a competitive advantage in
favor of the facility. This is evidenced by the growth in the number of patients visiting the
hospital especially those that need specialized treatment from ailments such as cancer,
hypertension, and major surgeries. The implementation of data driven healthcare in the
organization has promoted effective use of historical and current data in offering specialized
treatment to individuals. Also, innovative management practices has promoted patient waiting
time, efficiency in diagnosis and greater customer satisfaction (Alaa, 2018). These improvements
have jointly lead to better financial performance in the healthcare organization.
In my opinion, the current Saudi Arabian healthcare institutions encourage innovation.
Most institutions are keen at modernizing their healthcare systems in line with the Kingdom’s
vision 2030 health care goals. These innovative processes are mainly introduction of IT in
various sections of the facilities. King Fahad hospital and many other hospitals in the country