HEALTH 2.0 ANNUAL CONFERENCE | SAN FRANCISCO, CA | SEPT. 16-18, 2020
By Heather Munro, freelance writer focusing on emerging technology.
Whether they’re driven by a personal experience with poor healthcare or simply an opportunity to disrupt the industry, healthtech entrepreneurs are churning out digital health solutions at a rapid pace. And while more consumers are adopting these tools, that alone is no guarantee of long-term success for the companies behind them.
Even though 2018 was a banner year for digital health funding, the failure rate in general for startups remains high, with nine out of ten folding. In order to stick around long enough for a second round of funding, healthcare startups need to meet the needs of all stakeholders—patients, plus physicians and healthcare providers. Successful ones also consider what can help insurance companies, hospitals and other providers, which is why 61% of digital health companies that start with a B2C model pivot to B2B.
At the same time, entrepreneurs can’t ignore the importance of healthcare’s human element. Tammy Kwiatkoski, director of clinical informatics for the HIMSS Office of the CTIO, explained why during HIMSS19. To find out more, watch Technology is more effective when usable at the patient bedside.