Health innovations show emerging startup opportunities

Jun 22, 2015The Editorial Staff

With the emergence of great opportunities in health innovations, entrepreneurs stand the chance to benefit for investing in the health sector.

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Are there any untapped opportunities that we can explore for health innovations? We need to read a lot about healthcare innovation feasibilities and focus on growth opportunities now.

Reliable statistics show that the use of information technology in healthcare is 25-30 years behind the rest of the commercial world. Improvement of treatment, patient experiences with the service provider, and cost control are the biggest driving factors behind the growth of health innovations.

Health innovations offer consumer-friendly portals

Consumers will need some dedicated health portals from entrepreneurs that can help them make informed decisions. If this happens, then companies like Narrative Science will play a huge role in simplifying complex medical information and present it in a more understandable way to patients.

Entrepreneurs will benefit from investing in the health sector with health innovations

With such facilities and access to simple health statistics, consumers will connect easily to their respective healthcare providers and understand their own health and fitness complexities. Doctors will also provide more interactive and best care to the individuals with this healthcare innovation.

Using wellness monitoring apps ensures rebates on insurance premium

Insurance companies will incorporate a dedicated, innovative strategy to help patients. If consumers don’t wish to pay hefty premiums on their insurance, they just have to keep a track of their health status through wellness monitoring apps.

The insurance companies are ready to offer excellent premium discounts to the patients if they can keep a track of their health status with the help of these monitoring mobile apps. For example, patients can get discounts on their health plans if they go to the gym daily.

Children in schools can benefit from this as well as adults at various workplaces with an additional good health education program.

As wellness monitoring will move to the healthcare technology industry fast in the coming years, aspiring entrepreneurs might find promising opportunities to explore here.

Omada—the digital therapeutics at Omada Health

Have you heard of Omada, the “Digital Therapeutics?” Sean Duffy, a Harvard dropout, established this company in 2011. This company caters to the digital health industry.

The team at Omada Health says their interactive online platform provides behavioral therapy to people who wish to get over severe medical problems through natural and behavior management. It’s a great health innovation for people who wish to get instant recommendations and advice on lifestyle changes from their personal health coach.

Sean Duffy’s amazing health innovation drew $23 million capital from a Silicon Valley based venture capitalist.

Accountability for care organizations invites health innovations

As more doctors, hospitals, and healthcare providers join the accountable care organizations, we can expect a significant change in the compensation model for these professionals.

Here, these professionals will need to provide more information on patients to get reimbursements from medicare. And to get more data on patients, they will need to rely more on innovations and healthcare technologies. Therefore, entrepreneurs thinking of health innovations will have more potential opportunities in the coming years.

The Editorial Staff

The Editorial Staff at The Business Frontal is a team of writers dedicated to bringing seasoned news stories and how-to business articles to our readers and patrons to help maximize their entrepreneurial potentials.