The battle for health care

One of the most interesting industries from a startup point-of-view is the health care industry.

Before the pandemic hit it was widely recognized that there are a lot of costly, structural issues afoot in the healthcare industry that technology can provide better and more cost efficient solutions for, but nonetheless newcomer struggled to really get inside the conservative system.

Covid-19 changed a lot of that for the sheer reason that suddenly the demand for telemedicine solutions and remote care skyrocketed. This meant that some of the old cultural barriers became if not irrelevant then at the very least less of a pain to startups.

I guess you could say that in a sense, digital health startups got their Covid-19 ‘vaccines’ early in terms of increased demand and opportunity to succeed in the market.

For startups operating in this space this is of course great news. And you could be forgiven for suggesting that we’re on the brink of a golden age for digital health to upend, uproot and improve our healthcare sector.

And you would probably be right. Because startups are not the only ones flocking to the health care sector to deliver new valuable solutions.

Big tech are there as well. Amazon is going in strong, and the same can be said about Google, Microsoft and Apple. And they have very good reasons to.

Forget for a second the market opportunity in itself. Big tech simply has to look this way. Why? Because the health care sector is among a very small group of sectors left, where big tech can drive the kind of top line growth they need to in order to sustain their hefty valuations.

Thus it is not as much an opportunity as a necessity for them to be in this space. And they need to win it.

This is not to say that startups shouldn’t look towards bringing new, exciting and value-driving digital health services and solutions to market. Of course they should. No doubt about it. They just need to be acutely aware that the battle for the market is going to be brutal, and that they are up against all the giants.

Realizing this before diving in and having the right frame of mind to take the competition on can make all the difference between success and failure.

No matter what it will be a super interesting space to watch.

(Photo: Pixabay.com)

The living room clinic

Have you ever tried going to a hospital for a consultation on something only to end up feeling it was a bit of a waste of time?

I certainly have. While I have the utmost respect for doctors, I find the format of a 20 minute chat that in essence can ruin an entire day somehow obsolete. And when I combine that with the financial strain the healthcare sector is under, I cannot help thinking that we should be able to do it in a much better way.

So here’s an idea:

What if we left the hospitals for the really sick? Those with such severe problems that they need to be there physically to receive the absolute best care. And then leave the doctors to focus on that?

What if on top of that we moved all the consultations – the chats, status updates etc. – to the comfort of peoples own homes. Moved the clinics into the living rooms so to say?

The technology is more or less there. And the readiness is getting there too.

On the technology side we have more and more point-of-care devices and services that we can use in the comfort of our own homes. Sensors get developed all the time enabling us to be always-on with the healthcare systems, if we need to be. And they are all getting easier to use effectively driving down the barrier of usage.

On the readiness side, the Covid-19 pandemic has been a blessing in disguise. We all now realize that we need to find new solutions that are not based on physical presence, and in those terms the past year has done more for acceptance of telemedicine than the past couple of decades combined.

Maybe such a move towards the living room might also have some other unintended positive consequences?

Maybe communication between patient and doctors would improve? Coming into the hospital clinic on the doctors home turf might be a challenge to patients who may leave after a consultation feeling that they didn’t get to tell, how they were really feeling or what really bothered them, because they were somehow stifled by ‘the system’.

Maybe being able to communicate from your own living room based on your own observations and own readings would level the playing field more and – ultimately – lead to better outcomes?

It is certainly worth to take this unique moment in time to investigate the potential positive impact of the clinic in the living room more.

(Photo: Pixabay.com)