By Susan Wright
Jan 5, 2018
The world has never changed this fast, and it will probably never change this slow again. Since 2000, over 50 percent of Fortune 500 companies have been acquired, merged, or declared bankruptcy, with no end in sight. In their wake, we are seeing a mass “speciation” of innovative corporate entities with largely new DNA, such as Amazon, Box, Facebook, Square, Twilio, Uber, WeWork, and Zappos.
A bigger, faster, more personalized business model is disrupting traditional health care delivery using new technologies and delivery mechanisms. The ‘big dogs’ like Amazon, Apple, and Google have been learning how to engage the health care market and are getting into the healthcare space in a big, yet quiet, way. They are using their intellectual capital and limitless financial assets to create new channels for delivering value-added health services to consumers. Innovation is in their DNA and disruption of a market is not the exception, it’s the rule.
CVS Health, which has stores located within 3 miles of 80% of all Americans, is acquiring Aetna to push much deeper into the healthcare space. It’s only a matter of time before CVS expands its services to offer personalized coaching and individual therapy or offering private services via an on-demand tele-health delivery platform. Companies such as Talkspace.com and Betterhelp.com services offer services that are private, secure, and available 24/7.
Google is piloting CityBlock, a community-based program in Brooklyn, NY, which is marketed directly to consumers as their personalized health system. New York State’s Medicaid Program is increasingly requiring shared savings value-based contracts for all Medicaid providers and Google is getting in on that action. CityBlock is testing personalized service with a tech-enabled care team supported by neighborhood health hubs connecting their members to whatever resources are available to help meet the consumer’s needs.
There is much to lose from ignoring the huge changes underway in health care delivery and payment methods. Don’t be disrupted; disrupt yourself! Join me at the mhca Innovation Incubator’s Innovation Circle™ in February and May to learn more about leveraging your organizations’ current market position through innovation. I will be presenting the drivers, types of innovation, and the framework used by companies to successfully imagine, plan, create, and implement innovative changes. You will learn more about the aspects and approaches to innovation and, if desired, to participate in an Innovation360™ InnoSurvey® that assesses your company’s current capabilities to be successful innovators.