The healthcare sector – unlike other major market sectors such as retail, finance and marketing – has largely been slow and even resistant to incorporating technology innovations and disruptive market entrants into the everyday fabric of the sector and the workings of service deliverers and practitioners. However, according to an article in the Harvard Business Review, this situation is beginning to change, with some of the largest market players starting to engage disruptive start-ups focused on the dual goals of empowering consumers and bringing down costs.
The article highlights the fact that the majority of healthcare innovation funded since 2000 has not disrupted the industry, indeed it has sustained the existing model by which employers and health insurers are effectively in control of healthcare service delivery rather then the end consumer. However a number of the larger players are starting to realise that, like other industries, true market disruption and innovation comes from startups who challenge the existing model in a constructive way that gives the end-user control of the products and services that they consume.
Does this sound familiar to you? If you have been following the developments of our portfolio partner Quantum and their incubated company MediXall, then it probably does. This is the exact arena where MediXall and Quantum’s PWeR, the platform with a patient portal, are targeting.
Scott Wolf, President and Director of Research for Grace Century, commented “When it comes to healthcare technology which empowers the patient rather than the employer or insurers, Quantum and MediXall have been at the party for some time already, and are waiting for more people to show up!”