Here are the four ways Dr. Jain thinks Big Tech underestimated healthcare, causing them to disappoint:
- Given the amount of players in the healthcare system, including payers, providers and pharmaceutical companies, it is hard to achieve scale. Any new offerings interfere with legacy systems, meaning large-scale instant disruption is usually out of reach.
- Although the shift to value-based care is happening, it’s moving far more slowly than anticipated, meaning innovative models still have to operate in a fee-for-service model, making it difficult to create value.
- Managing risk is a foreign concept to most tech companies, especially when risk determines cost, as it does in healthcare.
- Healthcare is a low profit-margin business that pales in comparison to the tech sector’s large margins.
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