"Fail Fast, Fail Often" is a mantra often used in technology and in start ups. The thought is by achieving "calculated" failures, there is much to be learned and if this learning is optimized, it can lead to increased efficiency and breakthrough results.
In the past, healthcare has lagged in innovation. Oftentimes building large, bulky, proprietary systems, it was more "Fail Slow, Fail Infrequently". This has lead to some healthcare providers with outdated business processes and technology.
Price Waterhouse writes a great article on this topic and the key takeaway is that innovation must be structured. Larger, more established companies will need to continue to innovate to compete with new entrants in the healthcare market. By implementing this "Fail Fast, Fail Often" mantra in a structured environment, it will allow for increased efficiency when innovating.
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