Innovating in healthcare isn’t easy. At one end of healthcare, where the combination of systems, processes, software, hardware and quick human decisions mean life or death, real innovation is tough. You can’t “move fast and break things,” “disrupt,” or, to go beyond startup cliches, actually stop processes to introduce something new and revert if it doesn’t work out, otherwise people might pay the ultimate price.
At the other end of healthcare, where consumers are buying products to optimize their health and/or prevent disease, the risk of a product failing isn’t morbidity or mortality, which creates space to fail and therefore to innovate. As such, we’re currently seeing a big swell in B2C business models for products that prevent disease and optimize health and the line between health and fitness is certainly blurring – take Peloton’s recent IPO filing as a good example.
Read the full article on Forbes.