Healthcare needs more “disruptive innovation” like TurboTax.
Jason Hwang, co-author of The Innovator’s Prescription: A Disruptive Solution for Health Care and co-founder of the Innosight Institute, used the analogy during a pre-conference keynote speech last week at the sixth annual Southwest Healthcare Transaction Conference, held at the Omni Dallas Hotel.
Hwang noted that the growing use of TurboTax eats away at the percentage of people who hire an accountant to complete their taxes each year. This “disruption” targets consumers with simple finances that could be easily handled by TurboTax, as well as non-consumers who could not afford accountants.
Similar innovation in healthcare could allow doctors and hospitals to focus on the most complex cases, Hwang said. Using technology such as telehealth with the use of smartphone applications could provide a superior health option for many patients, such as the severely disabled, than the traditional brick-and-mortar approach.
Hwang added that smartphone applications that allow patients to gather information about themselves and find out whether they need further medical attention should be utilized. Additionally, telehealth services that allow patients to connect with their physicians over the Internet would save money and allow for greater convenience.
The current healthcare model places too much strain on doctors and hospitals, Hwang said.
“The one-size-fits-all model of healthcare works, but it’s expensive,” he said. “Maybe we need tiered levels of healthcare.”
According to Hwang, disruptive innovation in business models allows for products and services to become more affordable, as well as allowing the industry to become more democratized through simplicity, affordability, and convenient accessibility.