Stories Tell The Story
At IncentOne, in the mid 2000s, it seemed like a no brainer that health organizations would adopt incentives for healthy behavior. After all, every major consumer industry did and the cost savings was clear. Get ten more pregnant women who were not following their pre-natal care to follow it, and the health industry would save $1 million. We said “you mean if we gave ten women $1,000 each and they followed their care, the system would save $990,000.” What we failed to realize was how old school the health industry was. They already thought they had incentives in the form of co-pays in health plan designs. Because we thought we were in the fifth inning when we were in the second inning, we misaligned our capital needs and underestimated how long it would take to get to market. Today, people say “you guys were way ahead of your time.” In entrepreneur speak, that means two things: that it was visionary but you should have recognized the inning you were in, and aligned capital needs accordingly.