Why and How the Healthcare Industry is Changing so Rapidly
The collective throw-weight of policy changes, technological advances, and structural shifts has primed the healthcare industry for upheaval, disruption, and incredible opportunity to advance the standard of care worldwide.
Strategic Choices No Life Sciences Company Can Avoid
To thrive in the emerging healthcare ecosystem, senior leaders will need to: clarify their company’s market positioning regarding patient outcomes and value to the healthcare system; define the differentiating capabilities necessary to deliver on those goals; and create a high-performance enterprise of partners, collaborators, and talent.
The question is: How can your company adapt to and help define this new healthcare era?
Four new business models are emerging in pharmaceuticals and medical devices; companies with roots in other industries are crossing into the healthcare market; and entrepreneurs are coming on scene, powered by digital technologies and motivated by the promise of growth, profit, and bragging rights for expanding the definition of “care.”
New Health Digitals
Watch this video to hear Anne O’Riordan and Jeff Elton describe the four business models presented in Healthcare Disrupted.
These new business models demand unprecedented collaboration in the field.
Regardless of business model choice, all new healthcare business and operating models must rapidly embrace new technologies that are fundamentally collaborative. Building ecosystems of value-enabling partnerships is a strategic and operating imperative. The catch is that the nature of collaboration in this context breaks new ground for many businesses in the sector.
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Talent Strategy in the New Healthcare Ecosystem
People will be the biggest advantage for (or the greatest impediment to) a company’s ability to excel in a quickly evolving industry. But recruiting the right mix of new skills and mindsets—and managing performance—won’t be easy in this context. The success of any company’s journey to become value-centric rests on its ability to align employee mindsets, norms, behaviors, and empathies to the patient, while compelling them to persistently drive value for the health system overall.
How will your company lead in the New Age of Healthcare?
We are at the confluence of enormous change and the emergence of new business models that will disrupt the legacy healthcare institutions, companies, and leaders of the last decades. It will take courage to reshape responsibly. But we have a chance to shape the future, rather than be shaped by it. Some of this shaping is for policy makers and governments to create rules of engagement that allow alternative approaches to emerge and innovations to flourish.