Healthtech is the emerging field of digital health. It includes technological applications, databases, and devices that are used for healthcare purposes. There are many reasons why healthtech matters to all of us.
The first reason is that it can be used to diagnose health problems without having to visit a physician’s office first. This saves time on the patient’s end as well as the medical professional’s end. The second reason is that it can help monitor your health-related habits on a daily basis, which can help you stay healthy more easily.
Thirdly, it can help create interactive content of different types for people who are looking for information on certain diseases or ailments they are experiencing themselves or their loved ones are experiencing. And fourthly, it can be used by medical professionals.
The health tech industry has seen nothing short of explosive growth over the past five years. Venture funding increased at a rate of 200% between 2011-2015, reaching US$11.7 billion from over 30,000 investors in the space.
The global industry in 2015 was valued at over US$7.2 trillion in the US alone
The combined value of Europe-based healthtechs has grown over 6x from 2016 to 2021 — from $8bn to $41bn. Telemedicine, operations software and insurtechs were the key leaders in this trend.
Digital health is the idea of taking electronic technology and applying it to healthcare. Digital health can be categorized by types, such as wearable devices, hospital information systems, and medical apps.
The possibilities for digital health are endless. There is a large potential for growth in this industry because of the pervasive use of mobile phones and computing devices in our society. A few examples of digital health applications include fitness trackers, smartphone apps that measure blood pressure or weight, and online databases that collect data from a wide range of sources to compile a patient’s medical history.
Digital health is not just about using technology for medical treatment or monitoring. It’s about using digital tools to improve people’s health – which can happen on their own time, at home without ever interacting with a doctor or hospital setting. Digital health can be used for prevention as well as diagnosis.
The key is to select the most important problems whose solution will significantly change the life of the target user. Thanks to such an approach, already at the stage of Discovery and Design, it will be possible to build a successful product on the market much faster. It is always worth asking yourself the question “what value does the feature give to our user? Is it worth the investment?”
The digital health industry is a sector of the economy that has been rapidly expanding in recent years. It includes a wide range of products from mobile applications to wearable devices, and from web-based applications to databases.
Digital health solutions can be broadly categorized into patient-centric and provider-centric solutions. These categories include digital tools, such as electronic medical records, online appointment booking systems and virtual visits via a computer or a mobile device; and wellness solutions, such as weight loss programs, exercise trackers and personal coaching services.
The Internet of Things (IoT) is transforming the way we live, work and play. It is an internet-enabled network of physical objects that are embedded with sensors, software, and network connectivity – enabling these objects to collect and exchange data.
The HealthTech industry is no exception to this development. The IoT has established itself as a key component in the digital transformation of healthcare systems globally.
Blockchain has the potential to provide improved efficiencies in recording, storing, managing, and using information about individual patients. There are many opportunities for how blockchain can be used in healthcare today.
The most significant opportunity for blockchain in healthcare is by applying it as a shared ledger system where each participant maintains their own copy of the ledger with all record updates being timestamped and cryptographically signed off on by multiple parties.
Third party integrations are becoming an integral part of any digital health company’s strategy. This is because these third parties provide access to databases, applications, API’s that can be leveraged for healthtech programs.
Third party integrations allow companies to extend their capabilities by enabling them to offer new services and functions without having to build these themselves. This helps them reduce costs as well as time needed for development.
I have worked with the GMI Group on many projects over the last 4 years. I have always been satisfied with the quality of the commissioned works, which were made by Mikołaj Lehman and his entire programming team.
GMI has unique skills to translate ideas into reality. They are very efficient, discreet and, above all, trustworthy.
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From the beginning, GMI was able to anticipate possible risks and interruptions. The design environment was adapted to our working mode and was simple enough for the product owner to meet his requirements and those of the development team.
Thanks to the great attention to the quality of the code, the project was delivered on time and there were no internal complications associated with the product development. However, there were external complications (service providers), which GMI helped to solve with us.
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With the greatest pleasure and full responsibility, we recommend GMI as a professional contractor for web applications and CMS systems. We chose GMI primarily because they approached our inquiry very professionally. Very fluent contact at an early stage of talks announced that the implementation would be equally efficient and it actually was.
If there is an opportunity in the future to jointly implement another project, we will definitely use the services of GMI again.
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