Sachin H. Jain: The Healthcare Innovation Bubble

Sachin H. Jain shared on LinkedIn:

“In 2017, I wrote a piece entitled ‘The Healthcare Innovation Bubble’ on the broken healthcare innovation industrial complex.

Years later, many of the observations still stand.

Some additional observations.

1) Much of what we describe as innovative isn’t. What is new is old and what is old is new. Healthcare is awash with ‘innovators’ who are really grifters and profit-seekers.

2) Lots of “innovation” isn’t a real fix – but is a patch to something that is more fundamentally broken. Many have lost sight of what it will actually take to pursue the more fundamental change.

3) Common sense isn’t very common. We need a movement of “radical common sense” where we quit normalizing the abnormal rather than pursuing innovation patches.

4) Despite what they say, many organizations don’t really want to change. Innovation centers and innovation officers are more often punts than real commitments to change.

5) Despite what they say, many people don’t really want to change. People often hide behind process when they don’t really want to change.

6) Many organizations and people are doing extremely well and are very comfortable operating in the healthcare industry’s broken status quo. You can’t truly innovate when you are proud of something you shouldn’t be proud of.

7) The definition of leadership is pursuing change that may have uncertain or even negative returns—but is the right thing to do. It often involves speaking uncomfortable truths. This type of leadership is in incredibly short supply (an invitation for commenters on this post to name positive examples of leaders who live this).

8) Those most reputationally and financially able to lead in this way often don’t out of a sense of fear and/or loss aversion. We need a few people and organizations later in their career life cycles to start leading like they have nothing to lose.

9) Changing healthcare will require declaring winners and losers. There is more interest in self-preservation (how does everyone getting better without anyone getting worse). This type of courageless dialogue is unhelpful at best and subversive at worst.

10) Innovating in healthcare sometimes feels as hard as putting a man on the moon. It’s important to remind each other that it need not be.

What are your thoughts on the current state of innovation in healthcare?”

Source: Sachin H. Jain/LinkedIn

Sachin Jain is the President and CEO of SCAN Group and Health Plan and an Adjunct Professor of Medicine at Stanford University School of Medicine. He also serves as a Board Member at The Paul & Daisy Soros Fellowships for New Americans, an Academic Hospitalist (WOC) at the U.S. Department of Veterans Affairs, and a Board Member at America’s Health Insurance Plans (AHIP).