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Healthcare Report

In: Business and Management

Submitted By apple19760
Words 306
Pages 2
October 2014

This four-­‐page article outlines an example of the disruptive innovation that is occurring within the health industry. The focus is on a new technology that offers significant price reduction to existing lab testing technologies without sacrificing the quality of testing; additionally, it highlights the pricing transparency that is readily becoming available to consumers. This Business Insider piece highlights the impact innovative technology advances will have within the health industry. Theranos technology referenced within the article offers improved patient comfort for blood testing, leveraging a single drop of blood to run a battery of testing that would otherwise have required multiple tubes. In addition to comfort, a patient is now more likely to undergo testing as there is less fear with offering up a “drop” of blood versus multiple vials. This new technology will likely revolutionize the lab-­‐testing sector of healthcare, an area that has seen little change in the past fifty years. Furthermore, it is another example of technology impacting the sector that leads to improved value to the patient customer by offering more information at lower pricing, and at the same time putting additional pressures on traditional hospital systems’ revenue streams that are generated through lab testing. There is reference to the massive billions of dollars in savings that CMS could realize if all of their members were to have testing done with this technology. Lastly, beyond the revenue impact, this technology illustrates the impact on delivery of care moving to more convenient, outpatient-­‐based sites. In this example, Walgreens expands it presence as a healthcare delivery system and further creating disruption to the traditional doctor’s office/hospital delivery model. One would also believe that the convenience, ease of testing, and information gained from the testing, will further allow patients to be better informed and engaged in their health.…...

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