Is there any untapped opportunity that can be explored for health innovations? It seems obvious that we need to read a lot about healthcare innovation feasibilities. Why don’t we focus on growth opportunities now.
Reliable statistics show, that the use of information technology in healthcare is 25-30 years behind the rest of the commercial world. Improvement of treatment, patient’s experiences with the service provider and cost control are the biggest driving factors behind the growth of health innovations.
Health Innovations Might Offer Consumer Friendly Portals
Consumers will need some dedicated health portals that can help them make informed decisions. If this happens, then companies like Narrative Science will play a huge role in simplifying complex medical information and present it in a more understandable way to patients.
With such facilities and access to simple health statistics, consumers will be able to connect easily to their respective healthcare providers and understand their own health & fitness complexities. Doctors will also be able to provide more interactive and proactive care to the individuals.
Wellness Monitoring Apps Can Help Consumers Get Rebates on Insurance Premium
If consumers don’t wish to pay hefty premiums on their insurance, they just have to keep a track of their health status through these apps.
Insurance companies are willing to integrate this proactive business model. Insurance companies are ready to offer excellent premium discounts to the patients if they can keep a track of their health status with the help of these monitoring mobile apps. For example, patients can get discounts on their health plans if they go to gym daily.
As wellness monitoring will be moving to the healthcare technology segment fast in the coming years, aspiring entrepreneurs might find promising opportunities to explore here.
Omada – The Digital Therapeutics at Omada Health
Have you heard of Omada, the “Digital Therapeutics?” Sean Duffy, a Harvard dropout established this company in 2011. This company caters to the digital health industry.
The team of Omada Heath says their interactive online platform provides behavioral therapy to people who wish to get over severe medical problems through natural and behavior management. It’s a great health innovation for people who wish to get instant recommendations and advice on lifestyle changes from their personal health coach.
Sean Duffy’s amazing health innovation drew $23 million capital from a Silicon Valley based venture capitalist.
Increasing Popularity for Accountable Care Organizations Invite Health Innovations
With an increasing numbers of doctors, hospitals and health care providers joining the accountable care organizations, the compensation model of these professionals can be expected to change quite a lot.
In this case, these professionals will need to provide more information on patients to get reimbursements from medicare. And to get more data on patients, they will need to rely more on healthcare technologies. Therefore, entrepreneurs thinking of health innovations will have more potential opportunities in the coming years.