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Blink 3 of 8 - The 5 AM Club
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The Innovator's Prescription summary
A Disruptive Solution for Health Care
20 mins
Brief summary
The Innovator's Prescription by Clayton Christensen, Jerome H. Grossman, and Jason D. Hwang highlights how disruptive innovation can transform healthcare industry with practical insights & frameworks for entrepreneurs, institutions, and policymakers.
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The Innovator's Prescription
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Key idea 1 of 8
Disruptive technology could make health care more accessible and affordable.
Health care is one of the major problems America faces. It’s hard to get and can cost you a fortune. There’s much room for improvement.
There are two ways to do this: Either treating health care like any other business or using what’s known as disruptive technology to make it easier and cheaper to access. You may not have heard of disruptive technology, but it’s been used by every successful industry, from automotive fields to financial services.
So what is it?
Disruptive technology, also referred to as disruptive innovation, is a combination of three aspects:
The first is a technological enabler, an innovation that simplifies problem-solving by routinizing solutions, thus making the entire process cheaper. The second is business model innovation, which allows firms to deliver affordable and accessible services while still turning a profit.
For instance, IBM was using disruptive technology when it adopted an innovative business model that based their business operations in Florida – far removed from their mainframe and minicomputer businesses in New York and Minnesota.
This allowed them to avoid paying the high margins, overhead costs and unit volumes typical to the Northern part of the country.
But there’s more to their success story. IBM then paired their business innovation with a technological enabler: the microprocessor. The combination of a fresh, money-saving business strategy with this stellar technology led them to revolutionize the computer market by introducing the first PCs.
IBM’s example makes clear one of the key advantages of disruptive technology: lowering costs while making products and services easier to access.
And the third element of disruptive technology?
It’s a value network, essentially an infrastructure composed of multiple companies each with disruptive, mutually-reinforcing business models. Say a company builds microprocessors. To build a value network, every company involved in the process, from suppliers to transporters, would adopt disruptive technology and, in the process, all of them would benefit.
So, you know what disruptive technology is, now it’s time to learn about the different types of disruptive business models.
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What is The Innovator's Prescription about?
The Innovator’s Prescription (2008) is a guide to applying business concepts to the field of health care and, in the process, revolutionizing the industry and making it more affordable and accessible. These blinks explain how health care has become mired in its old ways and how disrupting stagnant business models can make the field run like new.
The Innovator's Prescription Review
The Innovator's Prescription (2009) presents a groundbreaking perspective on the healthcare industry and provides valuable insights on how to solve its most complex problems. Here's why this book is worth reading:
- With its innovative approach to healthcare, the book offers a fresh perspective on how to address the challenges faced by the industry.
- It offers a comprehensive analysis of disruptive innovations in healthcare, providing a roadmap for transforming the system and improving patient outcomes.
- By examining real-life case studies and successful examples, it inspires change and empowers readers to think differently about healthcare delivery.
Best quote from The Innovator's Prescription
Yesterdays frontiers are now more than adequately addressed by the capabilities of most hospitals.
—Clayton Christensen, Jerome H. Grossman and Jason D. Hwang
Who should read The Innovator's Prescription?
- Anyone interested in health care systems
- Medical practitioners and business owners
- People interested in creative business models
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The Innovator's Prescription FAQs
What is the main message of The Innovator's Prescription?
The main message of The Innovator's Prescription is the need for disruptive innovation in healthcare.
How long does it take to read The Innovator's Prescription?
The reading time for The Innovator's Prescription varies, but it typically takes several hours. The Blinkist summary can be read in under 15 minutes.
Is The Innovator's Prescription a good book? Is it worth reading?
With practical insights and real-world examples, The Innovator's Prescription is worth reading for those interested in transforming healthcare.
Who is the author of The Innovator's Prescription?
The authors of The Innovator's Prescription are Clayton Christensen, Jerome H. Grossman, and Jason D. Hwang.
What to read after The Innovator's Prescription?
If you're wondering what to read next after The Innovator's Prescription, here are some recommendations we suggest:
- The Innovator’s Dilemma by Clayton Christensen
- Competing Against Luck by Clayton M. Christensen
- Leadership Strategy by Powerful Business Solutions
- How Will You Measure Your Life? by Clayton M. Christensen
- Marriage Be Hard by Kevin and Melissa Fredericks
- Deep Medicine by Eric Topol
- Either/Or by Soren Kierkegaard
- Jobs to Be Done by Stephen Wunker
- Stillness Is the Key by Ryan Holiday
- Think by Simon Blackburn