Overcoming Overwhelming Disruption: What to Do NOW · conventional approach, with higher risk than...
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1 Overcoming Overwhelming Disruption: What to Do NOW INV1, February 11, 2019 Neil Patel, President, Healthbox Executive Vice President, HIMSS
Transcript of Overcoming Overwhelming Disruption: What to Do NOW · conventional approach, with higher risk than...
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Overcoming Overwhelming Disruption: What to Do NOW
INV1, February 11, 2019Neil Patel, President, Healthbox
Executive Vice President, HIMSS
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Neil Patel, President, Healthbox; Executive Vice President, HIMSS has no real or apparent conflicts of interest to report.
Conflict of Interest
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• What is Disruption?
• Important Disruptions in History
• Why Healthcare? Why Now?
• Identifying Key Disruptors in the Industry
• Areas of Opportunity
• What to Do NOW
Agenda
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• Identify how and why new entrants are coming to healthcare.
• Recognize the major areas of opportunity for disruption
• Consider your own business - where is it most vulnerable?
• Think ahead. What should you do?
Learning Objectives
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Speaker
President, HealthboxExecutive Vice President,HIMSS
NEIL PATEL
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The Internet as a DisruptorIn the past, sports news was mainly on TV, the radio, and in newspapers.
Social media allows fans to have instant access to sports-related information and direct contact with players, coaches, and newscasters.
The Internet
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The Mayo Clinic Center for Social Media, now the Mayo Clinic Social Media Network (MCSMN) was established in 2010.
Social Media in Healthcare
”At Mayo, we believe individuals have the right and responsibility to advocate for their own health, and it's our responsibility to help them use social networking tools to get the best information, and connect with providers as well
as one another.”
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Notable Conjecture
Neither Redbox nor Netflix are even on the radar screen in terms of competition.
Blockbuster CEO, Jim Keyes, 2008
The last remaining Blockbuster, July 2018
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The Advent ofMedical Imaging
Autopsy
X-Ray
Ultrasound
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One More Timeline
https://www.torbenrick.eu/blog/change-management/surviving-disruption-in-an-age-where-competition-comes-from-anywhere/
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dis·rup·tion | \ ˈdisˈrəpSH(ə)nˈ\ | noun1 Innovation that creates a new market and value network,
eventually disrupting an existing market and value network, displacing established market-leading firms, products, and alliances
2 Tends to be produced by outsiders and entrepreneurs in startups, rather than existing market-leading companies
3 An innovation that takes longer to develop than by the conventional approach, with higher risk than other, more incremental or revolutionary forms of innovation
4 Once deployed in the market, achieves much faster penetration and higher degree of impact on the established market(s)
Defining Disruption
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It is a unique time in healthcare. There are many factors contributing to the recent rise in disruption:
Why Healthcare? Why Now?
Cost of Care Poor Outcomes High SystemicWaste
Lack of Consumer Choice
Healthcare is Cool Again
Infrastructure Digitization
Do Well By Doing Good
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Disruption from New Entrants
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Disruption from Incumbents
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As the largest payor organization in the United States, Blue Cross Blue Shield (BCBS) is an incumbent in the field, breaking new ground as a provider organization.
BlueKC – SpiraCare
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Top Areas of Opportunity
Social Determinants of Health
Precision
Medicine
Telemedicine
Data Transparency
Robotic
Surgery
Individualized Care
Big Data & Artificial Intelligence
Alternative Pain
Management
Cost of Care
Poor Outcomes
High Systemic
Waste
Lack of Consumer Choice/Access
Healthcare is Cool Again
Infrastructure Digitization
Do Well By Doing Good
Medical Education & New Generation of
Physicians
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What Should Health Systems Do NOW?
Embrace Change
Cultivate Innovation
Build, Buy, or Partner
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What Are Health Systems Already Doing?
Embrace Change
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What Are Health Systems Already Doing?
Cultivate Innovation
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What Are Health Systems Already Doing?
Build, Buy, or Partner
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Fireside Chat
Chief Strategy Officer, Atrium Health
RASUSHRESTHA
President, HealthboxExecutive Vice President, HIMSS
NEIL PATEL
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Thank you! Please remember to complete the online session evaluation.
Questions
President, HealthboxExecutive Vice President,HIMSS
Email: [email protected]: @neiljpatLinkedIn: /in/neiljpat
NEIL PATEL
