Beth Seidenberg of Kleiner Perkins recently stated that, “With billions of dollars at stake, the U.S. healthcare system offers entrepreneurs a tremendous opportunity to shake up one of the most complex sectors of the American economy.” In 2014, funding in digital health startups reached $3.5 billion, quadrupling its total from 2010. Even Jessica Alba is getting involved with funding a slew of digital health startups trying to heal the healthcare system.
Yet, to outlive the hype that comes with being Silicon Valley’s latest trend, and actually improve care for patients and consumers, health tech will require more than a just a funding pipeline. The good news is that all the pieces are in place — the problem, the appetite for a solution and the tech — to bring healthcare into the modern age.
The next step is to integrate efforts in cooperation with all of the players to put these cutting-edge technologies into action and transform care — a step often underestimated.
It also will require matching our maturing technology toolbox with macro trends that serve to hasten the evolution of our digital health future. We must take into account the ripple effects of the Affordable Care Act (ACA) and begin to prepare for the Silver Tsunami of retiring Baby Boomers, who will be on the forefront of adopting digital health tools. Read more