Reports and news stories about the wastefulness of the U.S. healthcare system abound, but the healthcare industry may be able to combat some of that waste by embracing the growing trend of collaborative consumption or a shared economy. This new economic model is rapidly gaining traction in other industries, especially the travel and hospitality industries, where companies like Uber, Lyft, and Airbnb are changing the way that people think about consumption by tapping into unused resources and creating peer-to-peer sharing networks.
In the Robert Wood Johnson Foundation’s Pioneering Ideas podcast, Rachel Botsman, coauthor of the book What’s Mine Is Yours: The Rise of Collaborative Consumption, explained the concept of a collaborative economy and identified the potential future role it could play in the healthcare industry.
Botsman posits that the growing waste, broken trust, unnecessary complexity, and redundancy in the medical field could be mitigated by a shared economy model. Some other unused or underused resources that could be tapped into with a sharing economy model include things like excess food, unused gym memberships, and the skills and knowledge of retired health care workers.
In addition, some hospitals have already created peer-to-peer networks in which expensive medical equipment can be shared with or rented to other hospitals that need them. Because each hospital does not need to invest the hundreds of thousands of dollars to purchase their own device, it removes waste from the system and allows new technology to be adopted and utilized more quickly and efficiently, which can mean better and more affordable care for patients.
Botsman attributes the growing popularity of collaborative consumption to the rise in peer trust that is beginning to surpass the trust people have in traditional companies, as well as people’s increasing expectation and demand for two-way interactions. These ideas echo some of the underlying principles in the growing healthcare trends of patient empowerment and shared decision making.
What are some health or healthcare issues that you think could be addressed by a shared economy system? Share your thoughts in the comments!