How the Pandemic has Impacted the HealthTech Marketplace

The following is a guest article by Tray Chamberlin, Principal at Alexander Group. Industry Growth Requires New and Improved HealthTech Commercial Models  As the COVID-19 storm settles, the HealthTech industry has seen a shift to positive growth. The influx of investment into the sector saw a flurry of new technologies and market entrants.  As HealthTech companies raced to unite piecemeal offerings into comprehensive solutions through mergers and acquisitions or disrupt existing markets by shifting end-user expectations, they invariably needed to reconsider their organization’s commercial model.  Recent research shows more than 60% of HealthTech companies polled cited integration as their greatest challenge.  Whether integrating disparate sales and marketing resources, or redefining the buyer journey, HealthTech companies must ensure they understand how best to reach, influence, and prioritize their intended customer base. Reach a Large and Diverse Market with Limited Funds  The way we receive healthcare is changing and causing the market to become increasingly disaggregated. In the past, addressing health concerns involved either seeing a doctor or going to the hospital depending on the urgency of the condition. Now, we have numerous access points to healthcare such as retail clinics, community centers, at-home care providers, telehealth options, and behavioral clinics. Research suggests the number of Telehealth companies will increase by 29% by 2025.  To successfull...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Communication and Patient Experience Healthcare IT Telemedicine and Remote Monitoring COVID Pandemic Healthcare Customer Service Healthtech SaaS Staff Turnover Telehealth Tray Chamberlin Source Type: blogs