One of the biggest barriers to innovation in healthcare is that, unlike other industries, there are several key stakeholders who must be addressed before a company can successfully bring their product to market, according to a recent panel at The Economist’s Health Care Forum in Boston this week.
“Any established company in any industry is always faced with the ‘established company vs. innovators’ dilemma,” Bain Capital Managing Director Chris Gordon said. “Do you want to transform your business and potentially cannibalize yourself and put your business at risk or do you want to be too stagnant and wait for someone else to do it for you? I think it’s a particularly tough thing in healthcare, though, because it’s so much more complicated than companies making products and selling them to people who want to buy them or companies who want to buy them. There are so many stakeholders between the regulators, payors, clinicians, and the patients.” Keep reading>>