by Michael Gorton, YES Contributor and Speaker
Healthcare is broken. First and foremost, we do not have a "healthcare" system. It is designed to support your needs when you get sick, not keep you well. It's time to fix that.
Telemedicine and digital health have reached a watershed moment. The industry is in full acceleration and entrenched in the historic shift from emergence to growth. Consolidation is happening all around us. Tens of thousands of lives are now being saved by the very industry that Boards of Medical Examiners were relentlessly trying to shut down just a year ago.
We still have an overly expensive architecture that only treats the sick. It is therefore, not a healthcare system, but a “SickCare gimcrack.” Lowering cost AND keeping people healthy well past reaching a hundred years old, is now within the scope of technology and delivery.
Recently, a team of telemedicine and digital health pioneers and I have been working on a solution that has begun paving the road to replace our broken, costly SickCare gimcrack with a true affordable healthcare jet engine.
We can define consolidation and its impact. Today there are thousands of telehealth companies in various stages of development. In a few years, most of the early stage companies, now excited by their own growth, access to capital, and high valuations, will be gone. DEAD. The vast majority will be simply crushed out of existence. The fight for dominance has begun.
I have lived through this twice. Once in solar and the other time in the internet. In the 1990s, I built an Internet company. Those were exciting times. Boom times. Investors were encircling us and throwing money at our deals. Sound familiar? Many of my colleagues rejected great offers because they believed they had the next “billion-dollar deal.” In almost all cases, they were wrong, and they ended up with nothing.
The lessons of the late 90s apply today. History teaches us the cycles of a new industry. In 2002, Harvard Business Review published a study on the topic. We have seen example after example of how emergence-to-growth plays out in a new industry. Just look at manufacturing, automobiles, airlines, telecom, internet and solar power. The list could go on and on, and the pathway is always the same. Emergence spawns Growth, which leads to Consolidation. There is a reason smart people study history…
Read Michael's full article here.
Healthcare is broken. First and foremost, we do not have a "healthcare" system. It is designed to support your needs when you get sick, not keep you well. It's time to fix that.
Telemedicine and digital health have reached a watershed moment. The industry is in full acceleration and entrenched in the historic shift from emergence to growth. Consolidation is happening all around us. Tens of thousands of lives are now being saved by the very industry that Boards of Medical Examiners were relentlessly trying to shut down just a year ago.
We still have an overly expensive architecture that only treats the sick. It is therefore, not a healthcare system, but a “SickCare gimcrack.” Lowering cost AND keeping people healthy well past reaching a hundred years old, is now within the scope of technology and delivery.
Recently, a team of telemedicine and digital health pioneers and I have been working on a solution that has begun paving the road to replace our broken, costly SickCare gimcrack with a true affordable healthcare jet engine.
We can define consolidation and its impact. Today there are thousands of telehealth companies in various stages of development. In a few years, most of the early stage companies, now excited by their own growth, access to capital, and high valuations, will be gone. DEAD. The vast majority will be simply crushed out of existence. The fight for dominance has begun.
I have lived through this twice. Once in solar and the other time in the internet. In the 1990s, I built an Internet company. Those were exciting times. Boom times. Investors were encircling us and throwing money at our deals. Sound familiar? Many of my colleagues rejected great offers because they believed they had the next “billion-dollar deal.” In almost all cases, they were wrong, and they ended up with nothing.
The lessons of the late 90s apply today. History teaches us the cycles of a new industry. In 2002, Harvard Business Review published a study on the topic. We have seen example after example of how emergence-to-growth plays out in a new industry. Just look at manufacturing, automobiles, airlines, telecom, internet and solar power. The list could go on and on, and the pathway is always the same. Emergence spawns Growth, which leads to Consolidation. There is a reason smart people study history…
Read Michael's full article here.
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