By: Daniel R. Matlis, President
Improving Healthcare in the Outcome Economy
The Internet of Things (IoT) and the transition to the Outcome Economy were key themes at PTC’s LiveWorx16. The focus on IoT and Product Lifecycle Management (PLM) and the shift to outcome based models, sparked this analysis on the applicability of these trends in our “sick-care system.”
The traditional healthcare model could better be described as “sick-care.” Historically, healthcare has been episodic and reactive — primarily aimed at addressing a malady, illness or injury after it has already happened.
Here are a few examples:
- Have a fever? → Take an antipyretic.
- Have an ache? → Take an analgesic.
- Have a damaged hip? → Have an arthroplasty.
- Have angina? → Have coronary artery bypass graft surgery.
This sick-care approach has it backwards, though. As the refrain goes, an ounce of prevention is worth a pound of cure. Furthermore, sick-care is expensive and unsustainable. But, can we apply the IoT, PLM, and outcome-based models to healthcare? Continue reading