Commentary on Healthcare and Disruptive Innovation

Abstract

Exploits of technology have been an issue in healthcare for many years. Many hospital systems have a problemwith “disruptive innovation” when introducing new technology. Disruptive innovation is “an innovation thatcreates a new market by applying a different set of values, which ultimately overtakes an existing market”(Sensmeier, 2012). Modern healthcare systems are historically slow to accept new technological advancements .This may be because patient-based, provider-based, or industry-wide decisions are tough to implement, giving wayto dire consequences. One potential consequence is that healthcare providers may not be able to provide the bestpossible care to patients. For example, if a healthcare provider does not adopt new technologies or approaches tomedical treatment, they may not be able to offer the same level of care as a provider who has embraced thoseinnovations. This leads to lower quality of care and poorer patient outcomes.Another consequence is that healthcare providers who do not adapt to disruptive innovations may lose marketshare to competitors who are more forward-thinking and willing to embrace new technologies and approaches.This can harm the provider's financial performance and sustainability.Not adapting to disruptive innovations inhealthcare can result in missed opportunities to improve the efficiency and effectiveness of medical treatment. If ahealthcare provider does not adopt electronic medical records, they may miss out on the benefits of faster andmore accurate information sharing, improving patient care.Once the decision to implement technology in a specific healthcare industry is made, concerns about patientsafety, an aversion to change, and hospital-wide compliance with regulations begin to arise (WynHouse, nd.). Thehealthcare technology industry also boomed with the COVID-19 outbreak. The COVID-19 outbreak has led tosignificant advancements and innovations in medical technology. In order to diagnose, treat, and prevent thespread of the virus, healthcare providers and researchers have had to develop and deploy new technologies andapproaches. The COVID-19 outbreak has highlighted the importance of the medical industry and the essential roleit plays in society. This has led to increased funding, support for medical research and development, as well as agreater appreciation for the work of healthcare providers. This has created opportunities for growth andinnovation in the medical industry. It also placed enormous strain on global health systems, disrupting healthcareby increasing the risk of fraud and deception; the risk of hospital operations and assets being compromised,disrupted, or altered; and the increased use of telehealth resulting in a breakdown between providers andconsumers (Kuehn,2021). This article will cover the effects/impact of disruptive innovations/technologiesintroduced into healthcare industries over the short term through a light review of disruptions and responses,followed by commentary and policy recommendations.