As we head into the back half of 2023, the healthcare industry faces a swirl of mixed signals. On one hand, we’re seeing widespread contraction as health systems face mounting financial pressures, the “unicorn” boom of 2021 becomes a distant memory, and many health tech startups face a do-or-die moment. On the other hand, revolutionary new developments such as generative AI are radically expanding the potential for innovation, demanding action and investment.
How can healthcare leaders navigate this “flashing yellow” moment and chart a smart and sustainable path to innovation?
From our vantage points working at different ends of the healthcare ecosystem, we see this unforeseen moment as a welcome opportunity—a wake-up call to stop chasing unicorns and instead reground our strategies in key principles of intentional innovation.
Balance pragmatism with disruption
Healthcare is still a morass of inefficiencies, gaps that need closing, and care that needs coordinating. In these lean times, many health systems have less of an appetite for Silicon Valley disruption. Instead, they’re looking to extract new value from legacy EHRs and other tech investments.
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