Business Strategy

The danger of being comfortable: Healthcare

The world of healthcare can instantly conjure up images of paper forms, waiting rooms, frustrated patients, high bills, and overworked medical staff. Rarely does the thought of going to the doctor inspire thoughts of high-tech experiences or cutting-edge practices. How does a hospital or medical practice of any kind climb their way to the top of the endless mountains of data collected over the years, usually through archaic systems? There is no easy answer to this question.

However, there are a few companies out there taking on this monster problem. Sometimes the industries with the biggest challenges offer the greatest opportunities for disruption. Healthcare is ripe for the hunt.

As wearable technology becomes a commonality, these devices are growing more capable of housing critical information about the owner. This offers a valuable solution for healthcare providers when it comes to quick communication between doctor and patient. As patient data becomes accessible through something as simple as a wearable device, true progress can be made on the front of the overall patient experience.

The world of wearables inevitably intersects with mobile in what’s commonly called mHealth, a term used for the practice of medicine and public health supported by mobile devices. The mHealth field has emerged as a sub-segment of eHealth, which is the use of information and communication technology (ICT), such as computers, mobile phones, communications satellite, patient monitors, etc., for health services and information.

Here are some healthcare disruptors paving the way to a more positive human experience in the doctor’s office.

An exciting up-and-coming player in the wearable world is Biovotion, a startup based out of Switzerland that provides solutions for continuous, non-invasive physiological monitoring. Biovation’s wearables embed multi-sensor technology in mHealth environments for optimal information analytics and data. These devices measure specific variations in physiological parameters leading to critical situations for the patient, allowing for educated decisions that help assist in overall health. Biovotion won the Best Medical Wearable category as part of the Wearable Technology Show 2015.

Validic is a perfect case study for healthcare disruption (as so named by Forbes in 2015). By integrating digital health data into one common platform for action, Validic enables next generation patient engagement and care. Their core focus is providing a one-to-many connection that allows healthcare companies to access mobile and digital health data across many devices and platforms. With access to this information, Validic’s clients can accelerate their strategic healthcare initiatives – from patient engagement and population management to care coordination, wellness programs, and more.

CareCloud creates patient engagement tools that make physician-patient collaboration easy. As a practice management system crafted to simplify operations, they ranked #28 on the Forbes “Most Promising Companies” list and debuted at #127 on the Inc. 500 Fastest Growing private companies. They boast an EHR (electronic health records) system with rapid charting, E&M (evaluation and management) coding, and meaningful use reporting. CareCloud also provides the ability to outsource medical billing, featuring an expert back-office team to boost revenue for practices.

In the near future when we think of going to the doctor, a whole new visual will be attached. It might even be a place we fondly regard as highly efficient, fast, and insightful. Wouldn’t that be a welcome change of pace? If you have an idea that could simplify or improve the healthcare industry, we’d love to talk more.

By Jen West