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NEW REPORT: Rethinking Business Models in the Global Health Economy
I am pleased to present the latest report from the Health Horizons Program--Rethinking Business Models in the Global Health Economy: A Toolkit for Innovation (SR-1038).
From the introduction:
We are at the threshold of paradigm shift. A new model of health and health care is emerging, one that is both broader and more narrowly focused at the same time. It is broader in that it is characterized by a more holistic understanding of health at the level of interconnected global systems--political, economic, social, biological, and environmental. It is more narrowly focused in that the responsibility for care is shifting from institutions to the individual, and technologies are emerging to personalize medicine to a degree heretofore unimagined.
As the understanding of health expands, consumers are turning to the broader marketplace, rather than just the traditional health care industry, for solutions. We call this broader marketplace the "global health economy." Like all paradigm shifts, the emergence of the global health economy opens the way for fundamental changes and opportunities of all kinds: scientific, market, business, ethical, social. Much of the opportunity for innovation will take place at the margins, where new industries and sectors are combining with traditional ones to create the global health economy.
To take advantage of these fundamental shifts and to meet the challenge of competitors new and old, industry players and outsiders alike must find new ways of doing business--they must forge new business models to bring their innovations to the marketplace. In this report, we present a toolkit for creating these new business models. The "New Business Models Toolkit" consists of: an overview of the key trends of the global health economy; the elements of business models in general; and descriptions of our innovation spaces. Then, using examples of the toolkit in action, we forecast likely developments shaping new business models in the global health economy.