For today's Insights and Opinions section, we have an article from Dr. Lloyd M. Krieger, a surgeon, entrepreneur, and venture capital advisor, talking about how healthcare companies need to look beyond clinical efficacy, and focus on things like milestones, timelines and budgets to accomplish their goals.
Healthcare, despite its gee-whiz robotics in operating rooms and around-the-corner gene therapy and biotech-derived medicines, is surprisingly slow to integrate new technologies. This hallmark of the system has been reinforced by the changes already wrought by ObamaCare, and will survive any ongoing attempts to repeal or defund it.
Winning companies understand the reasons for healthcare's slow integration of technology. This knowledge allows them to penetrate the system and make money. Losers become too smitten with their own life-saving contributions and ignore the broader structure of the healthcare industry. (More...)