Many companies have attempted to immerse themselves into the healthcare industry in the past, although few have been successful in reducing healthcare costs. Amazon recently announced its healthcare alliance with Berkshire Hathaway and JPMorgan Chase, and it is argued that Amazon is the key component of this partnership, due to the company’s foundation of efficient operational procedures, strong customer focus, and technological integration. Chunka Mui’s Here’s How Amazon Could Disrupt Healthcare emphasizes several capabilities that Amazon has brought to the retail industry that will enable the company to disrupt the healthcare industry. Mui makes the interesting point \that if integrated into healthcare, Amazon’s comprehensive customer records, personalized user experience, price choice and transparency, and reliable reviews will lead the company to a future of vast amounts of patient health data to analyze, personalized health pages, cost options, and trustworthy ratings of healthcare providers. However, do you think that this is enough to make Amazon stand out as a player in healthcare? What roadblocks might arise for the future of this healthcare alliance?
Berkshire Hathaway, Amazon, and JPMorgan Chase have a plan that could disrupt the entire healthcare industry. The CEOs of these companies hope to lower heath care costs for the companies’ employees and deliver significant advancements for all patients. This is a monumental challenge being that the health care spending represented 17.9% of the U.S. economy in 2016 and continues to rise. Many skeptics say that health care costs cannot be meaningfully lowered by three companies and that the sector will not change without government action. However; this would not be the first time Amazon has disrupted an entire industry. Amazon’s success has been based on removing entire layers of product sales and distribution, adopting new ways of thinking, and pursuing technological innovation. The new company these CEOs plan to establish will not seek to profit off of health care, but instead offer it at the lowest cost possible. One way to lower costs is to cut the number of people in the industry by moving toward more automation and adopting artificial intelligence in areas such as data input, automated health care tests, lab work and food preparation. Another way to lower health costs is by expanding telemedicine so health care providers could sharephysicians and nurse practitioners. Do you think this is something people will become more comfortable with or will the majority of people still want to physically go into a doctor’s office? With Amazon entering into health care do you think it has a long term goal of entering drug sales by launching an online pharmacy? This would also lower costs by cutting out the middleman. The last way this new company would reshape the industry is by tying payment to quality of care, so consumers would pay a fee based of the value of the care they received. Do you think these three CEOs will be able to create this new health care company and to what extent will it transform the healthcare industry?
Cybersecurity researchers in Israel found out that hacks against Medical Imaging devices are increasing where hacks targeting MRI and CT scanning have the greatest risk. The reason these cyber attacks pose a huge risk is that they can be fatal if a tumor is added in error or there is any delay of analysis. Unfortunately for the hospital staff and patients, strict regulations don’t allow to keep these machines updated due to potential software incompatibility and bugs. System thinking can and should be applied in order to effectively solve many of security threats in the healthcare industry. Hackers tend to understand human habits and the interdependence of systems which allows them to exploit multiple systems in one breach. In order for security to improve, medical IT employees should start viewing their systems as interdependent structures rather than separate systems when configuring and implementing new technologies. While it’s incredibly hard to manage risk of code defects, hospitals can use system thinking to minimize potential breaches by keeping their systems updated and ensuring that the entire system is configured in an isolated manner while flexible enough to work with other systems at the same time. How do you think hospitals can address this issue using system thinking?
Click here to read the source.