Uber, Facebook, Alibaba and Airbnb all have something in common: none of these companies owns the asset that generates its unprecedented revenue (taxis, content, inventory and property rental). This new business model is overhauling key industries throughout the economy. What is the equivalent in healthcare?
Healthcare is an ecosystem mired with inefficiencies. The US healthcare industry costs a whopping $2.9 trillion (£2tr) annually, eating away at 18 per cent of GDP. That’s far beyond peer nations in per capita healthcare costs. And if that seems like a colossal expense, take note – healthcare is predicted to soar to 21 per cent of US GDP by 2021. That’s more than all of China’s annual private consumption – food, cars, education – and it’s more than annual oil consumption worldwide. Add to that the ageing populations throughout the world and it’s clear – something’s gotta give.