by Lee Fried, on 06 Jun 2006 09:16 am
The Journey
What the Future Brings
Last night in a fit of insomnia I turned on the television and caught the tail end of a discussion on CNN Money about growth markets in the United States for the next ten years. Two analysts, one from Wall Street and another that specializes in venture funding both said that the Healthcare Service Industry will be “hot.” ’This market is approaching 20% of GDP and there is a lot of opportunity for the smart and the business savvy.’
So what does that mean for the organizations that are currently in this sector? I think that is should be a wake up call. When organizations like GE and Wal-Mart start entering the healthcare service market to satisfy investor demands they will bring business discipline, marketing expertise, and an incredible amount of cash. If healthcare organizations don’t figure out how to improve quality, cost and service they will be in trouble, quickly. Applying LEAN might be the only option to hold off this competition.
One Response to “What the Future Brings”
on 15 Jun 2006 at 5:30 am 1.Ted Eytan, MD said …
I think this rhetoric is no different than the rhetoric of 12 years ago, when health care was 13 % of GDP (remember the days). There seems to be an insatiable thirst for resources in the industry, but no thirst for good management. The customer doesn’t seem to see it (the presence of good management). The concern is that healthcare organizations are not incentivized to figure out how to improve quality. How will LEAN change that…