Tuesday, March 1, 2011

Revolutions in Healthcare and Education

There will be big revolutions in the service and business models for healthcare and education sometime. I can't tell when it will happen but the impetus of it is growing.

Healthcare cost is running away, especially in America. The system is stuck in their old ways and resistant to reforms. However its applied knowledge is not locked up like monks were the only literate ones and custodian of knowledge. Entrepreneurial doctors and health workers will eventually figure out alternatives. I expect such initiatives to come from America.

Educational qualifications continue to look better than its taste. Again, costs are running a way and with the pressure to get an adequate pay back, there is every incentive to align education with needs and values that make a person's life better economically first and everything else afterward. Education must be usable when one leaves school. The fact that so many fresh school leavers are unemployed around the world is the correct and telling judgment of the school systems usefulness and effectiveness rather than school rankings and GPAs.

Key innovations leading up to revolutions in healthcare and education will not happen in Singapore. Here we are working stupidly hard to make end of life paradigms (economists might call them terminal along the curve of diminishing returns) work better than anywhere else it the world. Not very clever isn't it, but looks just brilliant for the short sighted. Unfortunately when do voters ever have a reputation for far sightedness? They must catch it from a legendary leader.

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