Value, not volume

Posted by Dr. Yossi Bahagon, April 12, 2015

Everyone knows it, but few dare to disturb the hype.

No doubt, patient-centered digital-health solutions are a vital component of the evolving healthcare industry.

The Digital-Health industry is the fastest growing domain in means of investments when compared to the general software, biomedical and medical devices industries. By the end of Q3 2014, an astounding $5B were invested in Digital-Health initiatives in the U.S. only. Currently, the market is flooded with a massive VOLUME of Digital-Health initiatives promising to "revolutionize healthcare", but only a few will – those who will start building their EVIDENCE-BASED VALUE, TODAY.

Fast forward two short years into the future, when the hype dies down, healthcare players – governmental agencies, providers, insurers and pharma – will be looking for value-innovative companies i.e. those who actually show robust outcomes in clinical, financial and service aspects. Vague promises about patient empowerment, cost reduction, Big-Data, enhanced patient-physician relationship and enriched patient experience just won't cut it anymore.

Establishing robust outcomes in healthcare is far from being fun. It requires multiple early interactions with healthcare corporates, busy medical teams, patient groups and other essential players as to better understand what are each and every players exact NEEDS and what they consider VALUABLE. Moreover, it requires epidemiologic planning, Helsinki Committee approvals, coping with medico-legal, ethical, privacy, security and much more of those "none cool" components.

Don't get me wrong, Digital-Health platforms should undoubtedly contain gamification elements to produce better long-term engagement, but don't be misled by the hype – healthcare is nothing like the gaming / online marketing / viral apps etc. industries.

Comprehending this insight reflects a rare window of opportunities for Digital-Health companies: establish your evidence-based outcomes NOW, as it will take time and much attention. In two years it will be a prerequisite in Digital-Health – just like in any other healthcare intervention. Outcomes will make all the difference in getting you to stand out in the crowded digital-health space.

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