Transforming Royal Philips to Reinvent Healthcare in the Digital Age
Name
MIT_CISRwp425_PhilipsReinventingHealthcare_MockerRoss.pdf
Size
1.22 MB
Format
Adobe PDF
Checksum (MD5)
1140c1fa5bf5dd0cea48abd8eab75738
Author(s)
Mocker, Martin
Ross, Jeanne W.
Date Issued
December 1, 2017
Publisher
Cambridge, Mass.: Center for Information Systems Research, Sloan School of Management, Massachusetts Institute of Technology
Citation
Mocker, Martin and Jeanne W. Ross. “Transforming Royal Philips to Reinvent Healthcare in the Digital Age.” Working paper 425, Center for Information Systems Research, Sloan School of Management, Massachusetts Institute of Technology, 2017. https://dspace.mit.edu/handle/1721.1/175329.
Series/Report no.
MIT Sloan School of Management Working Paper 6754-17
CISR Working Paper 425
Abstract
Royal Philips s goal was to use innovation to improve the lives of three billion people a year by 2025. To reach that goal, the company was shifting from selling medical products in a transactional manner to providing integrated healthcare solutions based on digital health technology ( HealthTech ). This shift required a dual transformation. On one hand, the company needed to transform how healthcare was conducted. Healthcare professionals would have to change the way they worked and reimbursement schemes needed to change to incentivize payers, providers, and patients in vastly different ways. On the other hand, Philips needed to redesign how it worked internally. The company componentized its business, introduced digital platforms, and co-created integrated solutions with the various stakeholders of the healthcare industry. In other words: Royal Philips was transforming itself in order to reinvent healthcare in the digital age.
Subjects
Designed for Digital
Business Complexity
Enterprise Architecture
Digital Innovation
IT-based Business Transformation
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