Beddr and 2020 Health Predictions
We trust you've had a chance to read Beddr's 2020 Sleep Predictions. These are four things I see on the horizon for health teach. Some of these are just starting and others are continuations and extensions in the current marketplace.
- Technology powering precision healthcare will be on the rise. It’s undeniable that smartwatches and fitness trackers have changed consumer health by increasing awareness and providing access to certain types of baseline data. Unfortunately these types of devices only offer generalized, “one size fits all” capabilities. For example, a smartwatch may offer many different features, but it is ill equipped to provide the specific analytics or solutions to enact true change. In 2020, we will see a shift in consumer appetite for personalized care and precision treatments beyond a basic tracker that are tailor made from data insights.
- Care will be supported with AI and machine learning insights. The current model of healthcare is mainly focused on after-the-fact reactive treatment. However, innovations in AI and machine learning are making it possible to utilize data to create predictive models that not only help doctors and their patients make quicker, real-time decisions but detect issues at an early enough stage to provide true preventative care.
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- Investor focus on data and results-driven startups. Lackluster IPOs and scandals like uBiome’s FBI raid and eventual bankruptcy will make investors wary of investing in healthcare startups touting rapid growth stats. Instead, there will be an intensified focus - especially in the healthcare space but also in tech overall - on businesses that build a robust, customer (or patient) centric offering with proven outcomes and strong business performance.
- Appetite for holistic solutions providing more than just technology. Forrester believes that healthcare visits will increase as a result of persistent health related notifications from wearables, like Fitbit. Unfortunately, the health tracking and notifications in these unspecialized wearables still have a considerably high false-positive rate, which means they are likely to send someone to a doctor without real cause. In 2020, companies will expand offerings beyond just technology and will instead seek to combine the power of clinical data (gathered by devices), self-reported app data (to capture behavioral data) and human-led services like telemedicine and coaching, in order to provide efficient and personalized solutions.
Mike Kisch likes to make the complex simple, engaging, and accessible to more people. He is passionate about applying this philosophy to healthcare. Previously, Mike was the founding CEO of Soundhawk, a wearable hearing enhancement company that developed the first connected hearing device. He led the company from concept to commercialization and multi-million dollars in revenue. He holds an MBA from Washington University in St. Louis and a BA from University of Wisconsin-Madison.