Healthcare Startups Needs Prescription!
Many companies are getting involved in Healthcare startups and the introduction has seemingly endless number solutions to real problems. They do however are still waiting to be inherited by the key players i.e. the doctors and the patients.
I believe that some of our best innovators and some of our best potential solutions to the challenges that we face in healthcare aren’t to be found in just a smartphone app. In fact, I would suggest that the good Doctors and Administrators of Health Systems in attendance need only look down at their own their inner-entrepreneurial spirits, or within the walls of their own health systems to find the innovations, creative ideas, business practices, and solutions that can move our industry forward.
These individuals and organizations are truly on the front lines of healthcare. They see, wrestle with, and solve healthcare’s challenges on a daily basis. But those breakthroughs are typically isolated and don’t break out beyond the billing associates, mid-levels, nurses, doctors, or departments that have dreamt of them or put them into practice. Sometimes one of these home grown ideas becomes patentable IP to help heal healthcare. More often than not, they never see the light of day.
In health care, the days of business as usual are over. Around the world, every health care system is struggling with rising costs and uneven quality despite the hard work of well-intentioned, well-trained clinicians. Health care leaders and policy makers have tried countless incremental fixes—attacking fraud, reducing errors, enforcing practice guidelines, making patients better “consumers,” implementing electronic medical records—but none have had much impact.
It’s time for a fundamentally new strategy to make the healthcare startups successful.
At its core is maximizing value for patients: that is, achieving the best outcomes at the lowest cost. We must move away from a supply-driven health care system organized around what physicians do and toward a patient-centered system organized around what patients need. We must shift the focus from the volume and profitability of services provided—physician visits, hospitalizations, procedures, and tests—to the patient outcomes achieved. And we must replace today’s fragmented system, in which every local provider offers a full range of services, with a system in which services for particular medical conditions are concentrated in health-delivery organizations and in the right locations to deliver high-value care.
It is however very important to understand that healthcare startups are not working yet.