Becker’s Hospital Review | Disruption of healthcare by new players – Not an easy endeavor

By Joe Randolph, President & CEO, The Innovation Institute |  Outside players trying to disrupt the healthcare sector are finding that it is not an easy endeavor.

Once they realize the complexities of a sector that focuses on ensuring the health of diverse groups of patients, they are left with having to go back to do more research, or having to back out completely.

As patient care faces slow growth and competition, its leaders have learned to be agile and open to innovation. It’s the only way to survive and come out ahead. In the meanwhile, outsiders are trying to see how their business models, services, technology, and processes can be integrated to make patient care better.

Learning from outsiders
Outside industries that serve customers in other capacities can teach us quite a bit about listening to the customer’s needs. Amazon is a leader in getting to know its customers through algorithms and feedback, then following with customized service and experiences based on the information they’ve gathered on each client on their popular electronic commerce site. With this expertise, they are primed to enter the $3 trillion healthcare space. More…