At the beginning of the 20th century, the life expectancy was at 47. Most of the hospitals and health services were provided by religious organizations. At that time, medicine had barely found answers to illnesses, and more soldiers succumbed to infections than battle. Today, the 21st century has seen the revolution in health and medicine. Hospitals and health service providers have become privatized. Currently, the industry is worth over $ 3 trillion. The United States spends almost thrice per person on health as compared to other first-world countries. However, even with the expenditure, strides in the health sector are yet to yield any superior outcomes.
It’s evident that entrepreneurs in the health sector have no experience in the sector and therefore, they are unable to translate investments into health. John Crowley, just to mention but a few became an entrepreneur in the health sector as a result of a diagnosis made on his children. Many entrepreneurs have personal ties linking them to the healthcare industry. If personal frustrations become the basis in which we venture into the health sector, it goes without saying that several opportunities will remain undiscovered.
The truth remains to be that there still lies significant opportunities in the healthcare industry. While it is so, we stand to improve the world and save lives if only more people work on the problems. Recently, the healthcare community has received news that Amazon has obtained licenses in different states aimed at distributing health-related equipment. On the other hand, CVS is considering the acquisition of Aetna, the health insurance giant. The belief that Amazon intends to penetrate the pharmaceutical market led to the pivoting of CVS to health insurance as a measure against the marketing giant. The truth is that the recent moves from the two companies are intended to increase or ‘own’ the healthcare consumer.
While the health sector needs more people to seek solutions, people like Drew Madden have already stepped in to provide solutions in the IT sector. He is an entrepreneur in healthcare IT department with a primary focus on building high caliber teams and partners. Drew is passionate about Electronic Medical Records and works to optimize the use of EMR. He holds a degree in industrial engineering with a major in medical systems from the University of Iowa.