Busting the Myth That Regulations Impede Innovation
Right now, regulations in healthcare are seeing rapid, radical shifts. Processes that have historically taken years like launching telemedicine platforms and adapting insurance coverage are now taking weeks or days. Scientists are working to develop vaccines in record time. Companies outside of healthcare are jumping in, too: Manufacturers whose only products included car parts are now making ventilators. 3-D printers are being thrown into service to create PPE. As one client told me, “Every rule that can be broken is being broken. Every regulation that can be waived is being waived.” The world doesn’t have time to wait.
In this moment of crisis, failing systems are confirming what we already knew: The healthcare system is brittle, and it wasn’t built to handle a global pandemic. How leaders move now will dictate the kind of progress we can make, in the short- and long-term.