A role for entrepreneurs: An observation on lowering healthcare costs via technology innovation

摘要

In many industries, entrepreneurs are asked to undergo a process called "frugal innovation." This process supports advances in technology that drive down spending and improve results or leave them static. Likewise, in the healthcare system, there is a shift occurring calling for a reduction in spending. Key to this shift will be implementation of innovative devices brought forward by entrepreneurs. Although technology may add to costs in the near-term, most of the empirical analysis shows that the aggregate benefits vastly outweigh expenditures. However, several regulatory and perceptual challenges exist that entrepreneurs will have to overcome.