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Title: The Innovator's Prescription

Subtitle: A Disruptive Solution for Health Care

Author: Clayton Christensen, Jerome H. Grossman MD, Jason Hwang

Narrator: Scott R. Pollak

Format: Unabridged

Length: 13 hrs and 34 mins

Language: English

Release date: 11-09-16

Publisher: McGraw-Hill Education

Ratings: 4.5 of 5 out of 25 votes

Genres: Science & Technology, Medicine

Publisher's Summary:

The book that's revolutionizing health care in America

A groundbreaking prescription for reform - from a legendary leader in innovation.

Our health care system is in critical condition. The Affordable Care Act has insured more Americans than ever, yet deductibles keep rising and costs continue to climb. Now more than ever, the industry needs a shot in the arm. It needs The Innovator's Prescription, the now-classic approach to efficient, affordable health care. Learn how to:

Members Reviews:

Donâtâ overlook this valuable analysis of healthcareâs structure. Itâs better than the competitive strategy approach

Although this book was published seven years ago it continues to provide a helpful understanding of the types of healthcare businesses. Everyone knows that in this country, healthcare costs too much. But lowering costs will only come from disruptive innovation in the industry, says the author Clayton Christensen, just as it has in other segments of our economy.

What is important in this book is the marriage of Christensenâs thoughts on innovative disruption with a business model theory that helps readers to understand the basic types of healthcare firms. A classification system for healthcare businesses is a prerequisite for analysis of the industry and eventually lowering healthcare costs. Christensenâs innovative disruption comes when simpler, cheaper alternatives displace established firms.

Christensenâs three types of healthcare businesses are an improvement over the well-know analytical framework of Michael Porter (âCompetitive Strategyâ) because of the attention to type of businesses, not business strategy. The three types of healthcare businesses are:

1) Solution shopâIn purest form these are specialist physician practices that focus on finding the correct diagnosis or optimal treatment.

2) Value-added businessâThis is the most common type of business where inputs are gathered together and a product is created. In healthcare, these are pharmaceutical and medical device companies. Hospitals and physician practices can be both solution shop and value-added business but that contributes to high costs. Separating the two is preferable, says Christensen.

3) Facilitated networkâThese are businesses where individuals exchange something with other individuals, says Christensen. Insurance companies, banks and telephone companies are examples. These are also companies that help patients find others like themselves, an example is dLife.com (diabetes), and other networks of patients with chronic diseases.

The three-part model that Christensen uses to segment the types of businesses has its roots in an earlier paper that Christensen acknowledges and adapts for his thesis. [âConfiguring value for competitive advantage: on chains, shops, and networks,â by Charles Stabell and Oystein Fjeldstad, Strategic Management Journal, Vol. 19, 413â437, 1998]

The authors of this paper found that Harvard scholar Michael Porterâs widely used analysis of business structure didnât fit some firms, including healthcare. Porterâs âCompetitive Strategyâ was first published in 1980 and has been a core resource for understanding businesses.