If Data is the New Oil, Sick Care is the New Coal

If Data is the New Oil, Sick Care is the New Coal

It's been said that data is the new oil that is fueling the 4th industrial revolution. Others disagree. However, while the business models and value chains of oil and data might be different, the metaphor is used to describe the increasing value of data. Transforming into the intelligent, mobile, digital economy has created a lot of pain to many people and made old industrial models, and their employees, obsolete or redundant, much like renewal energy is doing to the coal industry and workers.

Now we are hearing rumbles about changing sick care to healthcare, the fee for service model to value based care and the present payor model to "Medicare for all"...whatever that means. However it plays out, the die has been cast and there is an ongoing restructuring of the sick care industry that will cause a lot of pain and make the coal and petro-economy meltdown look like a mere blip on the labor economy radar screen. Even clusters and innovation districts have a life cycle.

The US sickcare system of systems medical apocalypse is looking something like this:

  1. The future of sickcare work is changing
  2. The doctor persona of the future is changing
  3. Care delivery business models are changing
  4. Patient expectations and demands are changing
  5. Biopharma and medtech business models are changing
  6. Hospitals and traditional care delivery models are increasingly obsolete
  7. The primary care model is being unbundled
  8. One on one care is changing to team on team care
  9. Medical education is being reformed
  10. Biomedical and clinical ecosystems are changing driven by digital health technologies
  11. Innovation financing is changing
  12. Sickcare policy is changing
  13. Intellectural property laws and FDA regulations are changing.
  14. Reimbursement models are changing
  15. Patient and doctor behavior change models are evolving

The personal computer changed the world. Sustainable energy technologies are doing the same to the petro-economy as will self-driving electric cars, robots, artificial intelligence and the other shiny objects on the shelf.

Prepare yourself and your kids now for the opportunities this presents.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs on Twitter@ArlenMD

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  • Florian Tournay

    I miss the good oil days...

  • Chantal Lessard

    So glad I'm not a young person anymore.

  • Richard Corp

    AI doctors are going to blow our minds

  • Phil Wenlock

    If data is the new oil, then the petrodollar is starting to look a bit 20th century.

  • Graham J Bruce

    Good post

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Arlen Meyers, MD, MBA

Former Contributor

Arlen Meyers, MD, MBA is a professor emeritus of otolaryngology, dentistry, and engineering at the University of Colorado School of Medicine and the Colorado School of Public Health and President and CEO of the Society of Physician Entrepreneurs at www.sopenet.org. He has created several medical device and digital health companies. His primary research centers around biomedical and health innovation and entrepreneurship and life science technology commercialization. He consults for and speaks to companies, governments, colleges and universities around the world who need his expertise and contacts in the areas of bio entrepreneurship, bioscience, healthcare, healthcare IT, medical tourism -- nationally and internationally, new product development, product design, and financing new ventures. He is a former Harvard-Macy fellow and In 2010, he completed a Fulbright at Kings Business, the commercialization office of technology transfer at Kings College in London. He recently published "Building the Case for Biotechnology." "Optical Detection of Cancer", and " The Life Science Innovation Roadmap". He is also an associate editor of the Journal of Commercial Biotechnology and Technology Transfer and Entrepreneurship and Editor-in-Chief of Medscape. In addition, He is a faculty member at the University of Colorado Denver Graduate School where he teaches Biomedical Entrepreneurship and is an iCorps participant, trainer and industry mentor. He is the Chief Medical Officer at www.bridgehealth.com and www.cliexa.com and Chairman of the Board at GlobalMindED at www.globalminded.org, a non-profit at risk student success network. He is honored to be named by Modern Healthcare as one of the 50 Most Influential Physician Executives of 2011 and nominated in 2012 and Best Doctors 2013.

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