HealthTech Innovation Challenge: Fostering Collaboration and Driving Healthcare Reinvention

In the rapidly evolving landscape of healthcare, innovation plays a crucial role in addressing the industry's challenges to improve access, experience, and outcomes for people. One platform that has been instrumental in driving healthcare reinvention is Accenture’s HealthTech Innovation Challenge.  

This event serves as a launchpad to build new connections and collaborations, with the goals of learning from one another and scaling new solutions together as a community of reinventors. In this article, we explore the background, purpose, and impact of the HealthTech Innovation Challenge and highlight last year’s champions.  

Background  

The HealthTech Innovation Challenge was launched by Accenture to bring together healthcare organizations, ecosystem partners, and startups tackling pressing healthcare challenges. The Challenge has been running for six years, with a brief hiatus due to the COVID-19 pandemic.  

This past year, we focused on two challenge areas: the future of the healthcare workforce and reinventing care delivery and financing. A pool of over 200 applicants were evaluated based on market need, solution definition, differentiation, viability, customer acquisition, and feasibility. The selection process involved a rigorous vetting of startups addressing these two challenge areas. This year, we saw an uptick in AI-based solutions, along with a significant focus on solutions that focused on underserved populations. From hundreds of applications, a curated group of 15 startups was selected to participate in the Challenge.  

Creating a Collaborative Container 

It is not typical for payers, providers, investors, and startups to be at the same table discussing concepts and ideating solutions together. With the HealthTech Innovation Challenge, they sit side-by-side and connect in a collaborative setting that is both exciting and novel, creating a unique container where various players in the healthcare ecosystem can connect, collaborate, learn, and scale. Over the past few years, the HealthTech Innovation Challenge has fostered the development of a vibrant community where participants can share insights, exchange ideas, and form valuable partnerships. 

The Experience 

The excitement of the HealthTech Innovation Challenge is palpable. Participants pitch their innovative solutions to a room full of senior executives from leading payer, provider and investor organizations in North America. These executives serve as our judges for the event, probing for additional details and providing feedback on the solution in real-time. This format creates a dynamic environment where ideas are refined, connections are made, and potential partnerships are formed. The Challenge also features panel discussions and sessions led by Accenture’s external luminary network and internal healthcare thought leaders to provide timely and valuable content for all attendees.  This past year Dr. Peter Lee, Corporate Vice President of Research and Incubations at Microsoft, beamed in as a hologram in a Proto Epic to deliver the keynote session on “The AI Revolution in Medicine” sharing insights from his research on the uses of generative AI in healthcare.

The Winners 

Based on the judges’ scores, we select the top two startups to name the “Innovation Champion” and the “Top Innovator.” 

LunaJoy, a health platform aimed to improve access to mental health care for women, was named the “Innovation Champion.”  

Anomaly, an AI engine, focused on predicting and preventing denials, was named “Top Innovator.” 

Both LunaJoy and Anomaly impressed the judges with their solutions, as both are solving pressing healthcare needs through a differentiated approach.  

The HealthTech Innovation Challenge has become a significant event for Accenture’s healthcare practice, driving innovation and collaboration across the health industry in new ways. By curating a diverse group of startups and providing a platform for collaboration, the Challenge has facilitated the development of groundbreaking solutions that address pressing challenges in healthcare. Both 2023 champions, LunaJoy and Anomaly, exemplify the innovative spirit of the HealthTech Innovation Challenge.  

We are excited to initiate planning for our 7th HealthTech Innovation Challenge and to have the opportunity to continue playing a role in shaping the future of healthcare through innovation and collaboration.  

We are looking for health tech startups to apply for our 7th Annual Accenture HealthTech Innovation Challenge.  Startups can apply here by May 10th: https://lnkd.in/eY3quShZ

By Brian Kalis , Alexa Morse , and Scott Cummings / Illustrations by Kaitlyn Stewart / Accenture