Amazon, Google, Apple, Salesforce, and Best Buy are among the new players in healthcare who believe they are uniquely positioned to enter the market and solve some of the biggest challenges that incumbent systems have long struggled with. How can health systems, payors, and other incumbent stakeholders position themselves for success in the evolving marketplace?
When working with organizations aiming to produce innovation, our team relentlessly advises our partners to “build as a last resort.” At face value, this advice may seem counterintuitive; however, we aren’t saying organizations shouldn’t build products to take to market. Rather, before setting out on the path to do so, they should think long and hard about how their internal solutions will compete in “the wild” with existing products.
Healthcare executive inboxes across the country are filled with newsletters highlighting articles that cry, “Apple, Google, and Amazon are coming for your physicians and patients!” Between the attractive growth opportunity offered by the massive $3.3 trillion US healthcare market, and the aging technology infrastructure, tech companies are eagerly making plans to solve the persisting problems in healthcare. Incumbent healthcare executives have every right to be nervous.

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