Need of Disruptive innovation in Healthcare

Disruptive Innovation: A disruptive technology or disruptive innovation is an innovation that helps create a new market and value network and eventually goes on to disrupt an existing market and value network (over a few years or decades), displacing an earlier technology there. The term is used in business and technology literature to describe innovations that improve a product or service in ways that the market does not expect, typically first by designing for a different set of consumers in the new market and later by lowering prices in the existing market (Wiki).

Due to rising healthcare cost we must learn lot of thing from different company. I think main cause of our healthcare ill system is we follow century old model of healthcare hospital and doctor are just treating illness not promoting wellness. We need more advance technology and medical research to make new healthcare system that provide more individualized care without necessarily increase in costs. We need more integrated healthcare system to combat riding healthcare cost. Disruptive innovation simply says we must experiment and create new way of healthcare system which would we more affordable and assessable. It is like searching new market of healthcare to cater society. It is more like Blue Ocean strategy which describe market in Red and Blue ocean in which red ocean represent the existing and crowed market place with so many and same player whereas Blue ocean represent new business model which create new mark for same product through innovation in technology or process.

Disruptive innovation in healthcare the best example is Retail clinic –(Minute clinic), they provide primary healthcare in your retail store like Wal mart, CVS store etc here you can see purpose is same but delivery system is different. A normal doctor visit cost in this retail clinic cost you very low in comparison of visit in hospital and doctor practice.

Another best example of Disruptive innovation is Google Ad sense   which has created the new way of marketing. Disruptive innovation will also bridge the gap of rural and urban healthcare. In healthcare Demand is high but supply is very less and those are available are not of good quality. For example in India there is only 1 doctor for 100000 patient Can it be treated by tradition model of healthcare I think no but invasion of Disruptive innovation in healthcare can fulfill some gaps. 

Following are the list of at present Disruptive innovation in healthcare. 

1.       Retail clinic (Minute clinic )

2.       Telemedicine

3.       Personalized care

4.       mHealth

5.       More interactive healthcare