Date: February 19, 2019
The healthcare industry is constantly growing and introducing new ideas. MedCity News reported how “innovation in healthcare delivery, the use of data analytics to unlock new clinical insight, disruption of the existing pharma business model and the continued shift to value-based care” are the reasons why investors are putting more money in the healthcare industry than ever before.
Healthcare has seen high investments across all sectors. Specifically, MedCity News stated that “one of the biggest magnets for investment in New York has been insuretech start up Oscar Health.” However, there wasn’t as much growth within digital startups. MedCity News blamed this on “volatility in the public markets.”
MedCity News elaborated on a few more drivers contributing to the growth in investment. The direct-to-consumer health companies that provide “streamlined and personalized consumer experience” are large influencers. San Francisco-based One Medical is also furthering innovation by providing “telehealth to in-home visits to concierge medicine, and often all in one package.”
MedCity News described these companies as creating a shift towards better patient engagement and care navigation, and for good reason, according to Cedar CEO Florian Otto.
“Health insurance is an area that can be much more patient friendly.” Otto was quoted in MedCity News. “Understanding patient benefits should be easier and insurers could be a more active partner in how patients consume healthcare.”