What Can Academic Medicine Learn from Netflix?

MEDCITY News—December 10, 2014

Much has been written lauding the ability of Netflix to disrupt its industry not just once but twice. It artfully replaced the movie rental store with DVD delivery by mail, vanquishing competition like Blockbuster. It repeated the feat with impressive self-cannibalization of its first disruption through the introduction of video streaming. Today, Netflix stands tall accounting for 34% of peak wired download traffic in the home streaming video business with YouTube in distant second at 13%.

Within the business of healthcare, there exists an indisputable need for reform at several levels. Improved usage of the available resources to reconcile the system’s inefficiencies is high priority, as evident by the Institute of Medicine’s description of a gaping "quality chasm" that needs crossing. The current barriers preventing commercial reward of breakthroughs made by powerhouse academic medical institutions serve as a warrant for deeper investigation into its organizational culture. Within academic medicine, there exists a

unique set of values, attitudes, and beliefs. At the core of the field, everyone tacitly shares a mutual respect and appreciation for evidence-based patient care, research-driven advancement, and education of the next generation. This translates into a unique set of values, as exemplified by Hospital for Special Surgery: excellence, creativity, passion, teamwork, and integrity. Artifacts of these beliefs and values outwardly translate to state-of-the art facilities, brilliant faculty from impressive institutional pedigrees, complex clinical cases, and the word-of-mouth reputation of the hospitals themselves.

Read the full story at medcitynews.com.

 

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