Digital health is rapidly growing. Since 3-4 years we have seen a dramatic improvement in healthcare industry. It is a blooming industry attracting not only the new players but also the well established healthcare organizations. This has attracted the VCs to invest more and more under this industry.
As per the source (Rock Health), the total investment made by VCs across the world was less than $1 billion which grew to $1.9 billion in 2013. But there came a period where we saw a sudden and rapid growth in 2014 and 2015 viz. $4.3 billion and $4.5 billion respectively.
Goldman Sachs forecasts the market in near future exceeding $32 billion and this had excited investors to keep an eye over this industry. Well, the question is why was there a sudden outbreak in digital health terminology. Here’s are few reasons:
Digitization of healthcare data: Use of EHR for keeping the records is being implemented in almost every healthcare organizations irrespective of the size of the organization.
Public going mobile: With widespread adaption of smartphone apps and wearable, it has been possible to provide actionable data.
Access to information to all: Along with doctors, patients can get more information on their health records. This helps doctors to create a personalized healthcare information.
Increased efficiency and decreased cost: With digitization it gives better health record storage capabilities and better communication among the staffs. And increased efficiency at any level decreases the cost.
We believe the healthcare industry is surfing on the wave of IT adoption, and for that now is the time for all healthcare organization as well as individual physicians to go all in on digital strategies. Patients are online and mobile, so why don’t we take business from where the patients are!
And that’s what we believe in #BeSmartGoDigital.