Unconventional Remedies: How Reverse Innovation Can Help Fix the US Healthcare Industry
Reverse innovation, which involves transferring new ideas and innovations from emerging economies to developed economies, can help fix the American healthcare system, which suffers from high costs, uneven quality, and less-than universal access. Developing countries like India are under great pressure to use their very limited medical resources to serve the greatest number of people, at the lowest cost, while maintaining quality. As a result, a handful of Indian healthcare exemplars have mastered clever ways to simultaneously lower healthcare costs, improve quality, and expand access. Govindarajan and Ramamurti identify their secret sauce and recommend that healthcare organizations in the US and elsewhere consider emulating those strategies and practices.