Healthcare innovation assignment answer
After years of relying on traditional, linear models of innovation, the healthcare industry has finally adopted the human centered design. Alongside co-creation, the two have accelerated the rate and humanized healthcare innovation. One of the most fundamental innovations involves the utilization of big-data to ensure that high-cost patients become affordable. Statistics reveal that 5% of United States patients account for more than half of the country’s healthcare expenditure. Therefore, the application of big-data will formulate algorithms that will identify patients whose costs may exceed the normal rates. An example of such patients includes patients suffering from cormobities. The application of big data will thus create actionable predictions that may prevent the readmission of such patient cohort.
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