While some industries have been deeply disrupted by technology already, disruption in healthcare is just starting. Advanced technology and outside-in innovation have disrupted many industries, creating completely new business models, enhanced customer offerings, and transformed consumer experiences. Healthcare, however, is only at the very beginning of realizing the disruptive power of technology and innovation.
Healthcare organizations must evolve to be ready to survive disruption and benefit and thrive from innovation. But how can incumbents reinvent themselves to be "disruption-ready"? What are the characteristics of those well-prepared organizations that effortlessly embrace innovations and have the agility and flexibility to react quickly to change? How can healthcare executives, leaders, and influencers modernize and rejuvenate their mindset?
These questions were discussed at the 2017 Oliver Wyman Health Innovation Summit, where nearly 300 healthcare influencers convened over three days last November in Dallas for an in-depth exploration of forces disrupting the healthcare industry.
One particular executive session our team led – Driving Success: Building a Disruption-Ready Organization – including panelists Marco Annunziata, former Chief Economist and Executive Director at Global Market Insights of General Electric, Rich Roth, Chief Strategic Innovation Officer at Dignity Health, and facilitated by Simon Holland, Oliver Wyman Partner and Head of Oliver Wyman’s North American Organizational Effectiveness practice, highlighted how one out-of-industry enterprise reinvented itself amidst rapid, transformative innovation.
Here is the panelists’ advice for how healthcare businesses can become disruption-ready: