Private healthcare and innovations Congress by “Portfolio”

The discussion about healthcare in Hungary involved InnoStars as well as 300 managers

The Congress for leaders of private healthcare in Hungary is organised by the leading economical media “Portfolio” on an annual basis. This time, the event was organised in November, in Budapest, and was devoted to innovations in healthcare.

The attendees of the conference included about 300 managers – from private hospitals, outpatient policlinics, to the smaller medical industry and management consultants as well as investors. InnoStars participated in the event, too.

The main finding of the conference was that the innovation ecosystem was well developed in Hungary, segments of which were available, and there were enough resources. On the other hand, the lack of entrepreneurial attitude is a fact, with researchers, developers, and PhD degree holders trying to avoid risk. Soft skills required to sell an idea or to develop a business are missing. These setbacks can be changed only by education.

It is difficult to cooperate with state-owned healthcare providers, which is the reason why private healthcare should be the leader of innovation and healthcare cooperation. These experiences are similar to those from other parts of Central Europe and other countries of Europe, too.

Managers of private healthcare institutions are open to innovations and wish to apply new solutions; however, their activities are determined by the procedures applied by doctors. The openness to cooperate with researchers and developers is limited as clinics must concentrate on patients’ care, and private healthcare is overloaded with patients and care-related tasks.

During the start-up sessions, moderated by Balazs Fürjes, Managing Director of EIT Health InnoStars, founders had a chance to conduct a lively discussion. The four participating start-ups agreed that real innovations could be executed only through small, start-up natured businesses, not through large companies. It is worth setting up a healthcare innovation business, but stress tolerance is essential.

Balazs Fürjes shared his experiences on the fact that other parts of InnoStars produce more applicants to start-up competitions than Hungary. In Hungary, stress tolerance and creativity are high, but Hungarians believe the Hungarian market is enough for them, which is not true.

All start-ups participating in the session had a chance to build connections with both the private and public sector. Participants believe that both segments must, sooner or later, become more open to innovation. The problem stems from, among other reasons, the shortage of resources.

It was agreed that innovations could be useful only for a functioning system, and that the innovation potential can be used in this way only. The final conclusion of the session was that private healthcare is indeed a functioning system, with real opportunities, with which innovative start-ups and cutting-edge companies could offer their developments.