Interesting take on health care and reverse auctions - from someone who tried and believed he was too early for a market that today makes such good sense. I recently read a fascinating blog entry from Kintan Brahmbhatt (http://www.kintya.com/), a part-time tech blogger and entrepreneur whose "day job" is being a Product Manager at IMDb (Amazon.com). In this posting below, Kintan described how he and his business partner in a venture called Securamed - despite having a fantastic, award-winning business plan, were simply too early for applying the reverse auction model to the health care insurance marketplace:
The f words - fight, flee or flow
I think Kintan's post is wise on many levels. First, for all who believe that winning accolades - such as students winning business plan competitions (they won five!) - automatically translates into "real world" success, think again. As he stated, timing is indeed everything, and while they had a ground-breaking idea, the time was not right then. However, I would follow-up by saying that having spoken with many leaders in the areas of health care, business, and government in recent months, the time is precisely right now for such innovative ideas - and reverse auctions appear to be perfectly poised to fight the ever-spiraling costs in health care today.
Good luck Kintan and too all aspiring entrepreneurs in the health care area - we need every good idea out there to be tested and tried in order for insurers, businesses, and governments at all levels to continue to be able to provide the level of health care benefits and availability we have become accustomed to in the United States!
David
From the Reverse Auction Research Center: http://reverseauctionresearch.blogspot.com/
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