Health Medical Homework Help

Hi! Please, respond to peer discussions: 

Peer #1

Disruptive innovation is often developed by new firms, creating new markets and displacing old ones. It does not have to be a new product, better than the old one, but rather a product that creates a new market that destabilize the other companies ( Rackic, 2020). One example of disruptive innovation is Airbnb. Airbnb was founded in 2008, providing accessing to lodging accommodations through individuals renting a room, house, or apartment. It allows customer to find rooms or places available even in areas where hotels are totally booked, or in areas where hotels are not available. Airbnb offers listings in 191 countries, and its total number of listings—4 million-—is higher than the top five major hotel brands combined. Airbnb pushed the hotel industry to lower their rates and keep competitive prices, avoiding the increase of rates in peak seasons or events (conferences, sports events, concerts, etc.). Another advantage of Airbnb is that the customer can search for just a room, house, or apartment and other amenities like privacy, kitchen, pool, and many others (Gerdeman, 2018).

Breakthrough innovation is the creation of new ideas/products in the organization to create a new market or improve an existing one. Individual’s creativity is needed to create the new products and push things to the next level. Breakthrough innovation can not be accomplished in every organization, but it is necessary for organizations to survive in today’s world. Organizations need to plan accordingly, do market research, and hear customers to come up with innovative ideas to improve a service or develop a better one. Breakthrough innovation can bring growth opportunities to business (Zhu, 2019). Osborne’s computer is a clear example where breakthrough innovation was not accomplished by the organization (History Computer n.d.)

References:

Gerdeman D. (2018, February 27) The Airbnb effect: cheaper rooms for travelers, less revenue for hotels. Forbes. Retrieved from: https://www.forbes.com/sites/hbsworkingknowledge/2018/02/27/the-airbnb-effect-cheaper-rooms-for-travelers-less-revenue-for-hotels/?sh=51578711d672

Rakic, K. (2020). Breakthrough and disruptive innovation: a theoretical reflection. Journal of Technology Management & Innovation, 15(4), 93-103. http://doi-org.ezproxy.umgc.edu/10.4067/s0718-27242020000400093

Zhu P. (2019, June 6). Five insights of breakthrough innovation. Innovation Management. Retrieved from: https://innovationmanagement.se/2019/06/06/five-insights-of-breakthrough-innovation/

Peer #2

What is disruptive innovation?

For one to accurately identify a disruptive innovation in a particular field, it must first be established what qualifies as a disruptive innovation.  Christensen et al. (2015) defines disruptive innovation as the process where a smaller company, with fewer resources, can successfully challenge established market players.  The smaller company can do this through a process of steps.  While established market players focus on developing their products, they often exceed the needs of some customers while ignoring the needs of others.  This creates an overlooked area, or “gap”, in the market.  Disruption occurs when the smaller company gains a foothold in these overlooked areas, serving a growing demand at a lower cost, while the established player focuses on delivering their existing product to their established base (Sounderajah et al., 2021).  A quick internet search finds that many articles and blogs within the healthcare sector cite many “prospective” technologies as potential disruptors.  Yet, Christensen et al. (2015) maintains that disruptive innovations can only be identified retrospectively rather than prospectively.  Some non-healthcare examples are how word processors replaced typewriters and video-on-demand services replaced physical media rental services.

Disruptive innovation in healthcare

The creation of retail clinics and urgent care centers was a process that turned the model of care at the time on its head.  Innovators recognized that younger customers, mostly in the 18 to 54 age range, had less loyalty to individual providers and instead sought better experience with better access and at a lower cost (Butcher, 2015).  Another major player that entered the market was Walmart, that setup 17 clinics in Texas, Georgia, and South Carolina rural communities offering primary care services at a fraction of the cost of traditional Primary Care Providers (Diab, 2015).  Other retail clinics are the well-known providers such as CVS, Walgreens, and Target.  Urgent care centers further fill a critical access need as they are often open on nights and weekends when most traditional primary care offices are closed.  Many hospital organizations saw the convenient care model as a threat to their high profit ED visits and physicians were afraid retail clinics would steer patients away from their practices, the establishment of convenience-based care came into its own in the years following the implementation of the Affordable Care Act (Kaissi et al., 2016).  In the intervening years, the organizations that felt threatened by the implementation of convenient care models have embraced them and some have even begun operating their own urgent care centers and retail clinics.  It is not unusual to see medical services now being offered in unconventional locations for convenience’s sake.

References

Butcher, L. (2015). Who are the Disruptors? Hospitals & Health Networks, 89(4), 30–33.  Retrieved on EBSCOhost, accession number 102304149

Christensen, C. Raynor, M., & McDonald, R. (2015). Disruptive innovation. Harvard Business Review. Retrieved from: https://www.innosight.com/wp-content/uploads/2018/01/Innosight_HBR_What-is-Disruptive-Innovation.pdf

Diab, L. (2015). Disruptive innovation is Walmart objective. Chain Drug Review. 37(7), 70. Retrieved from EBSCOhost. accession number: 102476858