Last month, J.P. Morgan hosted its 41st Annual Healthcare Conference. This conference is the largest and most informative healthcare investment symposium in the country. It has become one of the country’s premier healthcare investment gatherings, bringing together members of the investment community and industry executives from hundreds of companies that range from emerging fast-growth companies to technology innovators and large, established for-profit and not-for-profit entities.
- HEALTHCARE DATA ECOSYSTEM
The rapid move to have an interconnected data-driven health system is based on several factors that include; data analytics, custom software development, and Artificial Intelligence that will help in the move from a fee-based model to a value-based model. Patients will be more informed and have a model that is based on proactive care rather than reactive. This will also help to decrease health inequality.
2. DIGITAL THERAPEUTICS
The increased amount of data available in the healthcare industry is changing patient care. The continued evolution of remote patient monitoring and diagnostics through wearable devices is changing the healthcare industry. Patients can see real-time data enabling the best course of treatment. This technology in combination with telehealth is creating a more integrated manner of care and like the healthcare data ecosystem, empowering patients to take better care of themselves.
3. CHANGES IN VENTURE FUNDING
Current market conditions have caused the overall deal size to drop by 30% and no longer is there a “blank check” policy for an idea of a product. There are so many similar product ideas addressing the same issues that VC organizations are requiring validation of product performance and proof of reimbursement potential. This makes it very important for startups to have a quality FDA Advisor, as well as an IT partner with the correct ISO certifications in place to make sure the pathway to approval is clear.