Limitations of medical innovation
- Apr 12, 2018 -

Based on the special point of medical innovation, the innovation companies in this industry must take into account the limitations of innovation, and involve several core aspects.

The first is to make clear what the purpose of innovation is. The innovative aim of the technology represented by the remote inquiry service Teladoc is to help the payer save the cost, because the price of the online service is lower than that under the line, which can help the payer save the cost. This is the direct reason why this mode is favored by American employers. However, there are many factors that threaten this innovative purpose, including higher marketing and promotion costs, and lower user utilization. The main factor to defeat this innovation is that, as the cost of online operations and the cost of doctor services rise, the price of online and the economic chain medical institutions represented by fast clinics under the line are very different, and if the price advantage is lost, the goal of innovation will be untenable.

Secondly, innovation is based on what the soil is and whether the soil is available in the current market. Remote images have been regarded as a means of making up the imbalance of image expert resources. It can boost the development of the basic medical sector and leave more patients in the basic medical institutions, rather than all the big hospitals that are priced more expensive. However, the development of innovative technology and services related to the image must be based on an important element, that is, the service object itself has a certain image base strength and talent, such as the remote image company represented by vRAD, the specialized hospital or the small community hospital itself has the imaging foundation and the patient guest. Source, the purpose of using remote technology is to make up for the shortage of doctors resources in holidays, and the strength defects in some specialist videos. To sum up, many innovations need to be done based on the foundation soil, which boosted the original services and products from 1 to 10 instead of 0 to 1.

The third core issue is who the innovative service is, whether the right service providers have the power and motivation to provide this kind of service. The management of slow disease and the tracking and health interventions for high-risk patients are an important part of medical innovation in recent years, but the core issue behind this innovation is who provides services. Doctors seem to be the best service for this kind of service, but in fact, doctors' duties and specialties are treatment, and more services, including slow and high risk patients, need more intervention, health education, and compliance. These services are trivial, time-consuming and detailed, and are not suitable for doctors to do. Therefore, most of the slow disease management and disease intervention innovation companies have encountered the bottleneck of the servicer. In the truly developed projects, they find that these services are not as imaginative as possible through virtual means, but can not avoid the characteristics of the health service itself to serve the people's heavy assets, which is the original creation. The new goals have a huge impact, forcing them to adjust their expectations of innovation.

The last important question is what investors and business partners expect for innovation. In the recent five years, a hot medical innovation, Internet thinking has always been considered as the main factor that can subvert the medical industry. However, it is not feasible to transplant the Internet traffic thinking and rapid anticipation to medical treatment from the characteristics of the medical industry, which is different from other industries, especially in the Internet industry. Errors lead to the trap of innovation.

Taking integrated medical care as an example, the success of integrating the insurance and Service hospitals in local areas (mainly California) on behalf of Kaiser medical care is really gratifying, but it is inappropriate and unrealistic to extend this model to more areas and even to produce a national advance in integrated medical treatment. Investors and managers will not set such expectations for themselves.

In addition, taking telemedicine technology as an example, although the listed company such as Teladoc has already appeared, the core of its income is still the membership fee paid by the big company. The number of actual diagnosis and treatment is not high, which brings a huge question to the future development of this model, and the possibility of using remote inquiry is possible. How big is it, how much space to develop, to be an industry alone, or to be a supplement to the traditional service of the payer, and another alternative to the offline medical service.

Thirdly, the successful commercialization of new technologies, such as non-invasive prenatal inspection, can be seen, although the new technology has broken through the high cost of the past, but the extent to which the commercialization can be reached is a problem that the investors and the managers must consider. Because the population is high risk of women, and this group can not limit rapid expansion, so the market size of this technology has a clear ceiling, and to expand this technology to middle - risk women is facing the plight of non reimbursement.

From these examples, we can see how big the expectation is. Whether the expectation is reasonable and whether there is a clear ceiling will determine the path of the development of the innovation model.