A mindset of scarcity and resourcefulness helps to cut costs. It’s also a mindset that can benefit change-makers in the current health-care discussions.
The health-care industry can use the lens of resourcefulness to focus its problem-solving on creating relevant solutions that create true value: lower costs, improved outcomes, and increased accessibility. It can take cues from a few companies that are already leading the way…GE learned two things about this new opportunity: First, those in emerging markets do not require the product bells and whistles that wealthier nations have come to expect, so GE can offer solid performance at a low cost…providing “a 50% solution at a 15% price.”
Sohrab Vossoughi, founder and president of ZIBA Design, writes in BusinessWeek about how applying a mindset of scarcity and resourcefulness, learned from emerging markets, can bring about an innovation revolution. Points to keep in mind to keep product development costs down.