The next revolutionary medical instrument? Your smartphone

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.

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About Peter Coffaro 1094 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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