No sector of healthcare is immune to disruption. Every day hospitals, physicians, health plans, drug manufacturers and others are feeling both the pain and the opportunities that disruption brings.
Several environmental factors serve as the catalyst for disrupters, including the fragmentation of our healthcare system and advances in technology and data analytics. Every week it seems new venture capital-backed startups are leveraging the power of technology to target some sector of the healthcare industry, and it’s no wonder why. Healthcare currently represent more than 18% of the U.S. economy; and with more than 10,000 individuals turning 65 every day, that number is projected to reach 19.4% within the decade. Everyone wants a piece of the pie.
Adding to the disrupter’s fertile opportunity is the healthcare industry’s traditional slowness to embrace change. The fact that industry leaders have been unable to materially change the trajectory of the cost curve is an open invitation for disrupters, inside and outside the industry, to come on in. The disrupters’ value proposition is to leverage their market position and technology know how to reduce unnecessary and wasteful costs, improve the consumer experience and reap the rewards. Consider: