How to Adapt Other Industries' Technologies to Healthcare

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I think that the investment in healthcare has always given a priority to better medicine, and in our culture, better medicine costs us more money because we keep people alive longer, and so we haven't had an equal balance in investment and certainly not disruptive innovation, it then delivered healthcare services.

If we can begin to shift some balance of investment and bring in some of the innovative ideas that have worked in other industries into a country's largest industry which is healthcare industry, so I think it is a solvable problem but not an easy problem to solve, I believe that we have a real opportunity now to begin to find ways to automate a lot of things that we thought could only be done with face to face visits which are expensive, that we have ways to begin to measure things which we couldn't do before because of technology, which means we can start to practically look at a different type of healthcare system which is more organised around matrix of wellness, matrix of improvement of outcomes, things of that sort.

So we're getting another chance to maybe do something important in this industry and technology can play a role in that, but it's obviously not the complete solution. 50% of face to face doctor visits could probably be handled virtually but the virtual visits. So these things which seem a little odd right now they're going to become very very common place I believe next five years.

And that's why I'm very enthusiastic that we really can make a dent in the way the health care is delivered, we really can bring innovation and technology can play an increasingly important role. It's not personal computers, it's not the internet, it's about big data analytics.

It's about the use of sensors that can monitor all kinds of things. It's about in and off ability of electronic health records. It's about whole new range of disruptive ways in which healthcare can be delivered. I am absolutely convinced that within a decade, there will be big brand consumer health care services that will be comparable to the kinds of big brands that we've seen in these other industries.

Maybe there'll be walking urgent care clinics, maybe there will be tower health services but we're going to see big brand consumer services because if we're really in an era of consumer healthcare, we're going to take advantage not only the technology that consumers will be using but we can take advantage of the marketing of how we market to consumers and consumers crossed brands.

And so building big brands is as much a part to solving the puzzle of consumer or healthcare as the technology and the medicine.