The sickcare digital transformation playbook

First there was the Great Recession. Then came the Great Resignation. Now we are facing the Great Digital Transformation, i.e. how do businesses win the 4th industrial revolution?

When cloud computing collides with 5G, the internet of medical things, quantum computing, virtual reality and virtual medicine, all occuring in an environment of volatility, uncertainty, complexity and ambiguity, things get wicked.

So what should be your next steps if you want to be standing on the middle podium of sickcare digital transformation?

  1. Create value by constanting changing and testing your business models
  2. Scale your culture
  3. Lead innovators, don’t manage innovation systems
  4. Focus on the people part
  5. Transform sick care to healthcare
  6. Fix your dysfunctional processes and eliminate waste
  7. Steal ideas from other industries
  8. Be sure you get the right information and communication tools to the job site
  9. Change your mindset

10. Commit to adoption of digital solutions with the same passion that you commit to strategy.

11. Become an ambidextrous organization

12. Think big, start small, stay small on projects that matter to end users and patients.

Getting from fail it to nail it scale it to sale it means paying attention to people, strategy, execution and cash.

The digital transformation of medicine has become a land grab for investor’s money and end user shelf space. Some think it is a bubble and it remains to be seen how much will be left after the pandemic. One thing you can be sure of, though, is that the solutions will mutate faster than the corona virus and we will need constant innovation to immunize ourselves against obsolescence and the corporate immune system.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs