Cheaper health-care goods and services will be created in the developing world, then sold in the U.S. That’s a big idea that Jeff Immelt, the CEO of GE, has been pushing lately.
He explained it at great length in a recent Harvard Business Review piece that used the phrase “reverse innovation” to refer to creating new products in developing countries, then exporting those innovations to the developed world. (Here’s an example of how the company did that with portable ultrasound machines; here’s a WSJ article on how wider use of ultrasound in India has been fraught.)
WSJ: GE CEO: Innovation in India Can Lower Health Costs in U.S.
