HealthIT Answers April 17, 2024
Joshua Liu, MD
Health Tech entrepreneurs sometimes blame their lack of success on healthcare’s “unwillingness to innovate” despite “claiming to want to innovate”.
I sympathize with their frustration, however I don’t think the blame is fair.
No one is happy with the status quo in healthcare. Most people in healthcare wish the incentives to innovate and improve patient care were stronger.
Yet we can’t forget that most stakeholders are acting rationally given the “rules of the healthcare system”, whether we like it or not.
In most other businesses you either sell a product that helps a company improve revenue or decrease cost – either directly or indirectly.
Healthcare is unique because there’s a 3rd dimension we “care” about: patient outcomes.
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