In our last blog, we listed and discussed four various ways to address the digital disruption that’s shaking up the health care industry, and predicted how well health care providers would succeed with each method. Ultimately, we identified developing a dedicated internal innovation program was the most effective way to address disruption in health care. Given that we help clients develop innovation programs like this, it isn’t exactly a surprise
In a difficult health care environment for consumers, the demands placed on health care providers are more challenging than ever. This is being compounded by digital disruption across most national markets, the now-classic Uber vs Taxicab dilemma. As we covered in our previous blog entry, 3 Reasons Why Health Care Providers are Facing Disruption, disruption resulting from rapid technological advancement is reshaping the health care industry by finding new ways
Whether it’s innovative, digital, or a combination of both, “disruption” is a phrase being found everywhere right now and it’s certainly made its fair share of appearances on this blog. Innovative disruption is currently one of, if not the biggest threat facing many industries and health care is no exception. In this blog we’ll cover what disruption is, why health care is being disrupted, and what the effects will be.
In our final entry in this series on disruption in insurance, we discuss how innovation programs actually work for insurers to beat disruption in the industry. If you haven’t read the previous entries in the series, 5 Technologies Disrupting the Insurance Industry and 3 Startups Disrupting the Insurance Industry, I suggest doing so, as they’ll provide useful context for when you read this article. As we’ve discussed in those blogs,
In our last blog post, 5 Technologies Disrupting the Insurance Industry, we established that disruptive technologies are rapidly changing the insurance industry landscape and that firms, especially large incumbents, must respond and innovate around disruption to survive and thrive. Innovation is the natural and correct response to disruption. Innovation can be incremental, when a firm adopts pieces of new technology to keep current with trends, or disruptive, when a firm
Anyone working in technology or innovation has heard of it- disruption, the most pressing recent phenomenon facing businesses in any industry today. Wikipedia defines disruptive innovation as “an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and alliances.” While disruptive technologies have changed business landscapes since the industrial revolution, only recently has technology begun to
In manufacturing, “lean manufacturing” or simply “lean” has become a dominant management philosophy, deciding much of how the manufacturing component of the supply chain is handled to maximize efficiency of resources. Lean focuses on minimizing waste by identifying activities that add value and separating them from those that don’t, emphasizing the elimination of those that don’t. Due to lean’s success in the manufacturing industry, managers in other industries began