This Week Health

Has there been disruptive innovation in healthcare? Not that I can remember. But we have experienced disruptive forces. What are those forces?

Transcript

Today in health, it disruptive forces. Versus disruptive innovation. My name is bill Russell. I'm a former CIO for a 16 hospital system. And creator of this week health, a set of channels dedicated to keeping health it staff current. And engaged. We wanna thank our show sponsors. Who are investing in developing the next generation of health leaders?

Guardian dynamics, Quill health tow site. Nuance, Canon medical and current health. Check them out. If this week health. Dot com slash today. All right. As you probably know, we had a 2 29 event last week, which are small format. Events with CIOs. We had, , 10 to 15 CIOs around a table. And we started to have a conversation around disruption.

And, , it started with a question that somebody threw out about disruptive. Innovation and one of the CIOs. Just said, look. Name a disruptive innovation in healthcare in the last three years. And it was interesting because. I couldn't come up with one. There was no. Specific disruptive innovation. I could come up with.

And neither could any of the other CIOs. And so I changed the conversation at that point to say, What are the disruptive forces, the forces of disruption in healthcare. Cuz clearly there is a lot going on. In fact, I was looking at Scott Becker's link. And I mean, just listen to some of these things.

That we're following right now. Large not-for-profit health systems are facing serious financial challenges. Through a handful though, a handful seem to be thriving. Some mid-size systems. Managing better than the mega systems digital health firms find themselves in a fascinating situation. There remains huge demand for large health system from large health systems and payers.

And others for their offerings, but the excessive valuations of the firms seem to have slowed, particularly if they were. Based on impossible growth assumptions. But many still are being funded very well. If real progress and great business, , buildings happen. Some of those that got ahead of their.

, skis are now facing layoffs, be where the hype and find great business builders. He goes on doctor and staffing shortages remain huge , you get the picture.

There's an awful lot , of disruption happening. In healthcare, but it's not disruptive innovation. It is disruptive forces. And so, as we were talking about that throughout, what, what are some of the disruptive forces hitting healthcare and you know what they are. Right. So the first one is the pandemic. The pandemic was a disruptive.

Force for healthcare. For a period of time, it fundamentally changed the way we delivered healthcare. So that's one of the disruptive forces. The second is labor, , as we're looking at it right now, There is a shortage and one health system throughout that they have 4,000 open positions, which include clinical positions that they've been unable to fill.

4,000 open positions. , now that includes it in other areas, but. , a significant number of those are in the clinical area. And we're hearing that across the board, it is very hard to fill. And not only is it hard to fill, you have to fill them. In order to continue to deliver the services, therefore, , you're going out and you're getting contract labor contract labor costs a lot more.

And that is the line that is really decimating. Health system financials and has been for the last six months. Or so, so that's a disruptive force. Labor is a disruptive force. , the pandemic is a disruptive force. I throw this out here. More as an, a conversation starter. What are some of the other disruptive.

Forces that you are seeing in healthcare. You know, we talk a lot about. Amazon coming in, but they're not a disruptive force. Optum coming in. And United healthcare coming in together into the care delivery space. Is that a disruptive force? Is the combination of all those things is new entrance as a category.

A disruptive force. Something to consider what are the disruptive forces in your market? That's what we need to respond to. And that's what we need to be looking at. How does technology play a role? In making sure that we can weather. Storms and continue to improve the services that we're offering and potentially.

Fundamentally change the services we're offering to our community as new entrant. In to our markets. So I wanted to get that thought out there and, , record something for that. And again, conversation started, or if you have thoughts or ideas about this, shoot me a note. I'd love to hear what you think the disruptive forces are.

In healthcare, you could shoot me know to bill at this week. Health. Dot com. All right. That's all for today. If you know, if someone that might benefit from our channel, please forward them a note. They can subscribe on our website this week, health.com or wherever you listen to podcast. Apple, Google overcast, Spotify, Stitcher.

You get the picture. We are everywhere. We wanna thank our channel sponsors who are investing in our mission. To develop the next generation of health leaders. Guardian dynamics, Quill health. Tow site nuance, Canon medical, and 📍 current health. Check them out. If this week health.com/today. Thanks for listening that's all for now.

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