Disruptive Innovation; the Antidote to Unevolved Healthcare?
The evolution of health care systems in the United States can come to a standstill once in a while, prove to be too slow or appear non-existent at times. A lot of questions have been understandably asked about what needs to be done in order to successfully navigate the healthcare system and advocate for further change, especially in terms of access for all. Health care stakeholders are seeking disruptive innovation to transform the U.S. health care sector in the years ahead. And the general consensus has been that the sector needs a disruptive innovation, whether from within or beyond health care organizations.
What is a Disruptive Innovation?
Disruptive innovation is a term in the field of business organization which alludes to an innovation that creates another market and value network and in the end disturbs a current market and value network, dislodging established market leading firms, products, and collusions. In this case hospitals and clinics.
Disruptive innovations have a tendency to be brought about by outsiders and entrepreneurs, instead of existing market-leading organizations. A disruptive procedure can take more time to create than by the ordinary approach and the risks related to it is higher than the other more incremental or developmental types of innovations, yet once it is sent in the market, it accomplishes a considerably speedier entrance and higher level of effect on the built up business sectors.
How would Disruptive Innovation help the Healthcare sector?
Health care systems are confronting a noteworthy challenge to react better to subjects' needs, regardless of whether it is to keep individuals healthy, give more customized treatment of medical conditions or to enable more old individuals to get care in their own homes. Disruptive innovation offers approaches to change health care delivery to address these issues. ‘Big Data Analysis’, for instance, can accelerate the time required for diagnosis and the advancement of new medications and enhance the proficiency of health care delivery.
Disruptive innovation brings new players and attitudes into the health care sector, particularly from the tech world, and this change usually requires a shift in mindset by regulators, lawmakers, health care professionals and patients themselves. Maximizing the potential of digital innovation will require the right regulatory framework to remove obstacles to large-scale take-up of new technologies and methods across health systems.
Disruptive innovation would covey affordability and convenience to the healthcare sector. All innovations undermine livelihoods. However, as price sensitivity soars, the barriers to acknowledgements fall, especially for those with no insurance, those with only catastrophic coverage, those in high deductible health plans, and others whose copayments are rising. And the reason disruptive innovation would be the best thing that happens to the healthcare sector today is because, consumers embrace innovations because they represent value — savings, convenience, access, quality, or a combination of these.
The vast majority see healthcare disruption as originating from two sources: government playing an administrative part that reshapes the 10,000 foot view plan of action, and grassroots new businesses utilizing innovation to challenge the present state of affairs.
In spite of the fact that executives, clinical pioneers, and clinicians all are showing their desires for disruptive innovation in health care on outside powers, the reality is that innovation has to coordinate with existing models. In other words, outsiders might build it, but insiders have to accept innovation for real, sustainable change to occur.
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