The circumstances surrounding COVID-19 have forced many of us to take advantage of digital health tools for the first time or at least in new ways. Even early adopters and tech natives are experiencing new telehealth services, monitoring devices, or wellness apps. An unexpected global pandemic and corresponding quarantine have accelerated the pace of digital health offerings and adoption. An already hot market seems to have gone into turbo mode with founders, investors, and legacy healthcare companies alike leaning into the digital transformation. The outcome? Digital health startups are on pace for a record-setting level of funding in 2020.
When I talk to folks who have been in the healthcare space for a long time about the digital health revolution, their tone usually strikes more of cautious optimism or even business-as-usual than one of unadulterated hope and wonder. Yes, COVID-19 has pushed healthcare into the digital space in an unprecedented way, even loosening regulations around things like video conferencing between clinicians and patients. Yet the fact remains that the success of digital health initiatives and startups still face quite the uphill battle. Digital health startups are almost twice as likely to fail in their first 5 years than the general startup population.
The healthcare ecosystem is a notoriously complex one that requires longer timelines, bigger teams of advisors, more partnerships, and acute knowledge of incentives and regulations. A breakthrough idea or novel technological application barely scratches the surface of your company’s journey.
How do digital health innovators navigate this landscape and craft a strategy that propels them towards success? I thought I’d take a page from the healthcare startup playbook and put together our own team of subject matter experts to help you figure some of this out.
On September 24th from 12 - 1pm ET, I’ll be moderating a live panel with industry leaders who eat, sleep, and breathe digital health startups.
- As an Innovation Strategist, Samantha focuses on supporting the resident companies participating in the TMC Innovation Accelerator program. She is responsible for encouraging innovative development of the member institutions in the Texas Medical Center by providing participating cohort companies with resources, strategic connections, and guidance through the TMC.
- Michael is a passionate healthcare executive turned digital health evangelist and entrepreneur. In addition to co-founding DHIT, Michael has served as Entrepreneur-in-Residence for the Center for Health Innovation at UNC Chapel Hill, where he has designed and developed their Digital Health Program in support of UNC’s Digital Transformation strategy.
- Adam serves as the Managing Director of Dreamit Healthtech, a leading venture-backed accelerator. His career has focused on building early-stage venture-backed health tech companies. He co-founded five health tech companies, is an active angel investor, and has served on the boards of several health companies.
- Nick is the Managing Director for MassChallenge HealthTech, a digital health accelerator program. Prior to MCHT, he was co-founder and CEO at VerbalCare, which had a successful exit in 2015. Nick also serves as the co-chair of Together.Health and guest lectures at Boston University.
We’re accepting presubmitted panel questions right now, so be sure to register and submit a question or two.
This discussion is ideal for entrepreneurs, product leaders, and software developers who are:
- In the early stages of working on a digital health idea
- Scaling a digital health company
- Spearheading an internal innovation or digital transformation program at a larger organization
- Passionate about the promise of digital health solutions