Can some of the innovation seen in the West be easily copied and applied in the East?
I have personally witnessed a number of healthcare startups in Asia which in some ways clone emerging business models in the West without having the equivalent background or domain expertise of what they are trying to replicate. Of course I will give them credit for trying, as starting a new business is by no means an easy task. However, the applications of the replicated business models seem out of sync with the markets that they are in.
Firstly, they may not have understood the healthcare landscape in the East. In the West, the bulk of the payment to hospitals, clinics and medical centers is borne by insurance and corporate. The quantum is huge, for example, health spending in the U.S. is 17.5% of the GDP, almost $3 trillion.
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