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The Innovator's Prescription: A Disruptive Solution for Health Care by Jason D. Hwang, Jerome H. Grossman, Clayton Christensen

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Introduction

In 1970 the cost of health care in the United States accounted for approximately 7 percent of gross domestic product. In 2007 it accounted for 16 percent of America's GDP. Normally, we view it as good news when an industry gains "share of wallet" in such a manner because it indicates that enterprises are making products or services that customers value and seek to purchase. At one level, therefore, we ought to be treating the fact that Americans are spending more of their income on health care as good news. They value good health. They're certainly better off spending it on health than many other diversions. But at another level this news is terrifying. We note just four frightening factors.

1. The growth in health-care spending ...

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