“Hospitals and healthcare, right now they react and respond to regulations and insurance. That’s understandable, but I think technology is coming on so quickly that there’s a lot of opportunity for disruption,” Cuban said.
“The challenge is the length of the sales cycle and how to introduce disruption, because [health systems] are going to fight it. That’s the catch-22 right now,” Cuban said.
I understand that a lot of people don’t like the way Mark Cuban approaches things, but the guy is really smart. One thing I’ve found about super successful people like him is that they’re almost always really good at taking something and narrowing it down to it’s core component. I think that’s what he did with the challenge of healthcare innovation.
Mark’s right that the sales cycle for getting a new piece of technology implemented into hospitals is ugly, brutal and slow. Some people argue that this is a good thing because we’re “protecting the lives of our patients.” While we should be thoughtful on how we implement new innovations in healthcare because lives are literally at risk, what about the lives that could be saved by these innovations? Shouldn’t we worry about those lives as well?
The real challenge isn’t that we’re afraid of some risky innovation harming patients. It’s a mixture of fear of change, fear of the unknown, no process for implementing new items, no bandwidth to implement new innovations, lack of ambition (at least by some), lack of budget for innovation, and then regulations and concerns over patient risk.
Do you agree or disagree? Will healthcare be blind-sided by something that will provide new avenues of innovation?