By Ben Algaze
March 20, 2015
AUSTIN–Healthcare-related innovation was everywhere at South by Southwest Interactive this year. There were sessions on healthcare IT, big data, wearables, and innovative startups that are using technology to upend the status quo. For example, Tim O’Reilly gave a talk about adapting the same experience-focused approach used by companies such as Apple, Google, and Uber to reimagine health care delivery.
And if there is any industry ripe for disruption, it is healthcare. According to federal government statistics, healthcare expenditures in the U.S now exceed $3 trillion and represent 17% of the nation’s GDP. Yet despite consisting of such a huge slice of the economy, and incorporating large amounts of new technology for diagnosis and treatment of diseases in the past 30 years, the industry has failed at delivering cost-effective care. Compare that with the computing industry, where the million-dollar supercomputer of 20 years ago now fits in your pocket and costs $600 unsubsidized.