Until the 1990s, organizations' most valuable resources, pricing and value extraction were based largely on the analysis of their physical infrastructure.
Over the past two decades, globalization and digital evolution have enabled large corporations to expand beyond local markets, at an incredibly fast rate, never seen before.
The current crisis, originated by the new Coronavirus, showed that this competition has changed the model used so far, moving from physical confrontation and strict control of resources, to disputes over the capture of data, information, knowledge and other intangible assets.
It is increasingly common to hear that data is the new oil in the world and fuel for the future. This is in fact true, and it also represents a shift in market analysis and valuation of tangible to intangible assets. The only difference with oil is that data is an inexhaustible source, and the biggest challenge is knowing how to make good use of a source with countless possibilities. There is no doubt that organizations that make good use of data and take advantage of its full potential will come out ahead and will certainly have a lot to gain.
Today, information, data and technology are the main sources of value reserves. The most valuable companies in the world do not have much in terms of reserves or physical assets. Trade statisticians treat the value of apple for example, not like the value of the iPhone, glass or silicon, but rather the brand, IP, software and other intangible elements. The large companies in this market have intellectual property, patents, R&D and their brands. They distribute their products and services over the internet and mobile networks, such as platforms - Alibaba, Amazon, Apple, Facebook....
What does this mean for leaders operating in health service management?
First, they will have to assume that the forces that have led the organization to fantastic growth in the past will not be the same today and in the future.
Strategies and tactics will have to evolve into a reality with a focus on effectiveness. In this new world, leaders will have to dig deeper into the development of the local health system ecosystem. This includes involvement with all members of the network, their policies and structures to encourage resilience.
CEOs will need to be attentive and attuned to changes and their implications for the regional and national structure, they will have to adopt more attractive and vital approaches to maintain their business and even enter new markets.
When Amazon, Berkshire Hathaway and JPMorgan Chase announced a new alliance in early 2018, the partnership turned the head of healthcare systems. Three companies, giants in their respective areas, have pooled their resources and to work together. The objective of this new venture was to target the waste identified in the current health system and to improve patient care, initially for those covered by the health insurance policies of the three companies, but with an enormous potential for expansion.
In Brazil, we see a sluggishness of healthcare companies, still very focused on the demands prior to the needs of digital transformation.
Already at the beginning of the pandemic, digital health became a reality in our country. The number of Brazilian healthtechs - technology companies focused on health - has doubled in recent years, according to a survey by the Healthtech Report Brazil 2020 survey, totaling 542 companies mapped in the study.
It is increasingly clear that from these partnerships and the constant changes experienced in the health sector, few companies will be able to afford to follow their business plans, without a regular assessment of the current context, market and environment, in case they will respond in a way positive impact on interruptions and risks in the health market.
Knowing the risks of your business, the profile and expertise of your skills and mainly delivering value to the customer will be the great differential for business sustainability.
Dr. Bruno Cavalcanti Farras