Technological #innovations remain the primary engines of economic growth. Harvard’s Clayton Christensen broadly classified innovations as sustaining and disruptive based on their competitive trajectories. Sustaining innovations help organizations improve and sustain their current market position and compelling customer-patient value propositions. Disruptive innovations emerge when competitors offer alternative value propositions based on simpler, less expensive, good enough alternative products and services. Innovative technologies like remote patient monitoring can be leveraged by healthcare providers to sustain existing value propositions or to introduce disruptive alternatives.
For example, Remote Patient Monitoring (RPM) technologies can be used to enhance traditional #checkups by reducing costs, improving #health information, and supporting remote #doctor visits. In this context, RPM technologies help providers support and enhance the value of traditional doctor checkups through greater convenience and potentially lower costs.
Alternatively, innovative providers can integrate RPM into new business models that leverage continuous monitoring to detect, evaluate, and treat emerging health issues before they become severe and chronic. They can also use RPM’s rich data sets to expand precision medicine practices through advanced analytics and artificial intelligence. These innovative providers can partner with their patients and research centers that can process large health data sets to deliver richer, more precise patient health insights.
OPR continues to evaluate and develop innovative business models engineered for emerging technologies like RPM. I will be part of #medicine Harvard’s upcoming cohort on digital innovation in medicine and will integrate insights from the course into our work and support for #BioBeat’s innovative advanced remote patient monitoring systems.
Contact us without delay if you and your organization are developing and expanding practices to leverage advanced remote patient monitoring technologies. We are working with BioBeat to help deploy their RPM solutions and providers to help them leverage and maximize the value of advanced RPM technologies. Your organization may benefit from complementary targeted training, information sharing, and other collaborative efforts: ozzie@ozziepaezresearch.com.
Images and references
Biobeat monitors courtesy of Biobeat
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