Savvy Cooperative is….a cooperative, or a co-op!
As a co-op, we are owned by our members, which in our case, are the patients and loved ones who use Savvy. We know this is not the normal model — patient ownership?! So let’s break down what we do, and why we do it as a co-op.
What Does Savvy Do?
Savvy Cooperative empowers patients to be part of the solution to improve healthcare by facilitating the seamless collaboration between patients and professionals in order to develop better, patient-centric solutions, faster.
For too long, patients haven’t had a voice or active part in healthcare innovations. They’ve been the vehicles of innovations, not the drivers. We need their bodies to test new drugs, health data to learn trends, behavior to understand where to be profitable — yet we notoriously have not stopped and really connected with patient and co-designed these solutions with them.
Savvy set out to change this. Patients are experts on their experiences, and we’re bringing them to the front lines to share their insights and collaboratively co-design solutions.
We facilitate patient collaboration by providing a marketplace between — what we call — the Savvy Crowd (healthcare consumers, patients and loved ones) and Savvy Companies (market and scientific researchers, pharma, healthtech and other professionals). Savvy Partners may request help from the Savvy Crowd in a variety of ways. This may include, but is not limited to:
in-person/online focus groups
scientific research studies
opportunities to serve as a patient partner on a research team or advisory panel
The Savvy Crowd will get paid for these efforts. Which is pretty awesome. But wait…there’s more!
THIS PART IS IMPORTANT: Why Do as a Co-op?
As patients ourselves (both Jen & Ronnie grew up with chronic illness), we’ve been around the block. We’ve got a pretty high bar and lofty goals for the type of organization we wanted to create. We want Savvy to:
Restore power back (or for the first time) to patients
Be an organization that the patient community trusts
Assemble a network of patients that are so engaged and motivated that professionals would never again go without working with patients
Use a business model that mirrors our mission
Enter the co-op! In our last post, we defined what a co-op is: an organization that is owned by its members, where each member has an equal vote in co-op decisions and can share in the co-op profits, based on their contribution. This is where our mission aligns beautifully with the co-op:
Savvy’s mission is to:
Elevate the voice of patients and loved ones
Make sure patients and loved ones are fairly valued
Savvy is a patient-owned co-op, thus giving them:
An equal voice in the organization
Fairly values their contribution
How Will the Co-op Work
First of all, we have not yet rolled out our co-op membership (coming soon!). When we do, patients and loved ones will be eligible to join as members. They will not be required to join to use the service, but there will be perks to being a member. In exchange for a small membership fee (price TBD — help us determine!), Savvy Members will:
Be an actual owner of the Savvy
Have a vote in co-op matters
Earn what are known as ‘dividends’, which are rewards for participation in the co-op, helping it function and grow
Be an active part of the movement to restore power back to patients
We knew this is tricky to understand (it’s tricky to explain!) — we are looking to create more resources (eg. images, videos, etc) to help explain this concept. If you’ve got a brilliant idea, or artistic talent, holler at us!
Thanks for your continued support on this journey! We are excited to be getting close to rolling out our membership….ooooo, the anticipation!
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Originally posted on medium.com, July 26, 2017