SUMMARY: The future of healthcare involves digital transformation but moving too fast in a matrix management environment can cause problems and set digital back months.
Digital Health
SUMMARY: According to Harvard Business Review, “digital health solutions and technology will play a crucial role in the difficult work of optimizing processes and systems for greater efficiency, financial viability, and enhanced outcomes. While this is true digital health won’t go anywhere unless there is a renewed effort on the user experience.
IN SUMMARY: According to the HBO documentary on Theranos “there’s a lot of lying in Silicon Valley.” The lying is still going on when it comes to digital and mhealth, and the venture capital money is again flowing. The internet has allowed the hype to take root and there aren’t enough people asking the hard questions.
KEY TAKEAWAY: [inlinetweet prefix=”” tweeter=”” suffix=””]Personal anecdotes of experiences with a particular drug or other form of treatment may have little relevance to whether that treatment fits another person[/inlinetweet]. The truth is that some patients delay health care for too long, or opt out of evidence-based treatment in favor of something of dubious benefit that’s talked about in social media or other, less than credible, website. Apps and the Internet are no substitute for a trained medical professional.
KEY TAKEAWAY: The digital health market continues to grow due to a lot of low interest cash and the promise that one day digital health will become the “norm” for consumers. However, the market will continue to see a lot of companies come and grow as consumers, and HCP’s, chose the winners.
KEY TAKEAWAY:Rob Coppedge is CEO of Echo Health Ventures in Seattle and has been investing and working in health care for 20 years. He recently said “I believe the digital health party is over and why those of us focused on long-term systemic transformation should be happy to put this hype cycle behind us”. He is partly right.
KEY TAKEAWAY: Some of the ideas around digital health are pure BS and don’t take into account a patients’ need and want to be seen as an individual.
KEY TAKEAWAY: Digital health is getting bigger every day, but when patients rely on digital health instead of seeing a health care professional it could lead to more serious conditions and higher health costs. Digital health should empower patients, but it isn’t a replacement for good, sound, medical consultations.