For years “ health care” and “technology” were two very different, mutually exclusive industries. Health care as an industry was viewed as service-centric and to many people’s dismay, was very slow to evolve. However, about a decade ago with the expansion of Internet access and the introduction of smartphones and tablets, a shift started to occur as forward-leaning health organizations recognized the power of including high-tech engagement tactics with high-touch interaction models. The result was the convergence of health and tech, spawning a whole new generation of consumer-focused health companies.
The proliferation of “health tech” has evolved to what is now is simply known as digital health. These organizations are taking the same tech-driven principles that are woven into all other areas of our daily lives and applying them to help consumers either manage their health or navigate the health care market.
While digital health has been an explosive area of growth and advancement, it is not always a slam-dunk. In the article “Six Truths Digital-Health Entrepreneurs Need to Know,” Beth Seidenberg, a general partner of Kleiner Perkins Caulfield & Byers, outlines key fundamentals every digital health company needs to be cognizant of to have the best chance of success. Her truths are:
- New tech solutions should cut costs, increase revenue or cut red tape
- A single app without an open API is an adoption and scale killer
- Customer leverage is key to success
- Build a revenue model before you build your service
- High-tech and high-touch are not mutually exclusive
- Tech and health care entrepreneurs need to join forces
As Beth concludes her article, “The fix for the health-care system and our country’s rising deficit is counting on savvy digital and life-science entrepreneurs to join forces, explore each other’s worlds, build important new businesses — and save our country from financial ruin.” We couldn’t agree more.
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