I was asked by a group of students from Michigan University’s Ross School of Business to identify what I would consider companies or areas of promise in health care. It’s a good question. I’m going to take a stab at the answer in this health care podcast, but let me foreshadow coming up next month, there’ll be a second episode of Relentless Health Value dedicated to this same exact topic. I have asked a panel of people from across the industry to weigh in on this same exact question.
So, here’s what I have to say about it, but you can balance my views with theirs upcoming and decide for yourself what advice you wish to take.
For more information, go to aventriahealth.com.
When not hosting the show, Stacey is co-president of Aventria Health Group, a marketing agency and consultancy. Aventria specializes in helping pharmaceutical, employer, pharmacy, and health system clients improve patient outcomes by creating and leveraging collaborations with other health care organizations. For more than 20 years, Stacey has innovated better-coordinated health solutions benefiting all stakeholders and, most of all, the patient.
01:47 Promise doesn’t mean piling up bills at the expense of patients and taxpayers.
02:47 “These companies won’t change unless there are people working from within to get them on track.”
03:53 Stacey’s three-prong plan to find promising companies within health care.
04:08 “Follow the money.”
05:29 Three things to look for in a health care company or health care area.
06:12 “It’s really hard to integrate with an unknown entity.”
06:50 “Doctors … like to create their own solutions.”
07:34 “The realities [are], people buy what they … create.”
09:48 “The hype cycle is real.”
10:45 All promising areas and companies have one thing in common: They’re innovative.
11:07 Disruptive innovation vs sustaining innovation.
11:45 Clayton Christensen’s The Innovator’s Dilemma.
12:23 Zeev Neuwirth’s Reframing Healthcare.
14:48 EP202 with Frazer Buntin.
15:41 “Look for first movers.”
15:56 “Look for disruptive companies that have gotten investments from entrenched players.”
16:23 Who excels at incremental innovation vs disruptive innovation.
17:10 Stacey’s note of caution about transparency and health care businesses.