To be a first-mover in any market requires significant upfront capital and resources, and a balance of external market forces and organization capacity to bring a new product or service to market. The reality is that not all medical groups can be first-movers in innovation and new product development. However, for those medical groups that are able to bring new products or services to their local market, the group will have a unique opportunity to meet its business goals and position the group as a system partner to achieve larger strategic goals.
Our latest research finds that to succeed in disruptive innovation and new product development, medical groups need forward-thinking leadership. Medical group leaders must adopt a first-mover mindset, and be willing to take risks and experiment with new processes and products, even if their innovation doesn’t have a guaranteed near-term financial return. This briefing reviews the top five lessons medical group leaders must know in order to successfully capture a first-mover advantage and details how one organization was able to disrupt their local market by incorporating genomic testing in primary care delivery.