The amount of money that venture capitalists spend on healthcare is frequently viewed as a sign of where current and future technology necessities may exist in the healthcare industry. These requirements can drive various factors, such as patient requirements. And expectations, social reforms, technological advancements, and others. We are beginning to emerge from COVID-19 as an industry, and that should be no surprise. Investing more in mental health counseling, remote patient monitoring (RPM), telehealth, information security, digital fitness, and other related areas.
- Infrastructure 2.0
The electronic health record (EHR) serves as the primary infrastructure platform for healthcare. With virtually everything passing through it at some point. However, this year, we must anticipate the introduction of new infrastructure platforms and protocol suites. These infrastructure platforms will almost certainly include critical functions ranging from scheduling. To billing, as well as a plethora of other applications.
When it comes to scheduling and billing, the next generation of digital health companies will not build their systems. But instead, use off-the-shelf components to address those issues. By focusing on a smaller set of product features to develop. New companies can devote their resources to solving complex health care problems rather than re-engineering already functional tools. It hopes that this will make introducing new health information technology products easier.
- Investment in Diagnostics
There have been some fantastic developments in diagnostics, such as detecting disease earlier and with greater accuracy than previously possible. We’ve reached the point where early detection of a disease or change in health status must automatically trigger the following proper measures in order to add value to the overall situation. What is the most efficient way to get a current negative COVID-19 result or evidence of vaccination to a third party, such as board a flight or sending the child to school, to the adequate external parties?
- Invest in Mental Illness Services
We see an increase in the demand for mental health services of all kinds. Fifty million people in the United States are vulnerable to mental health problems. The number is rising rapidly due to the demands of the continuing pandemic, the recession, and social unrest. The company is an investor in Lyra Health, which allows businesses to provide mental health resources to their employees. We believe that increased access to behavioral healthcare and tech-enabled care for more complex mental health needs is a great opportunity. Staff turnover will be reduced due to enhanced access to and utilization of mental health resources. Which will result in lower overall health care costs.
- Investment Opportunity in Patient and Physician’s experience
Physician experience (PX) was almost considered a distinct classification within digital health just one to two years ago. Companies would even market themselves as “patient experience companies” or “doctors’ experience companies.” Companies gaining traction are tackling the most significant health challenges and incorporating customer experience into the core of their products, rather than simply selling experience as a particular product feature. To put it another way, companies that do not incorporate PX into the fabric of their platforms are likely to struggle to compete.