Navigating the Evolving Digital Health Landscape @HLTH 2023
30 October 2023
The digital health landscape is rapidly evolving, and nowhere is that more apparent than the floor of the recent HLTH conference. I enjoyed meeting with key industry stakeholders to discuss the importance of innovation, direct collaboration with healthcare providers, and a commitment to creating value for patients and the healthcare system as a whole. As we transition from a reactive to a proactive approach in healthcare, we can anticipate a future where the healthcare system is not only more efficient but also more patient-centered, empowering, and ultimately effective.
Here are my key takeaways from the event:
Digital health startups are seeing a highly competitive funding landscape. Where 2021 was a booming year for health investment, 2023 has seen some of the lowest funding rates in the past decade. Investors are seeking not only promising ideas but comprehensive and impactful solutions that cater to the industry's complex needs. Demonstrating profitability is important, but making a genuine difference in healthcare is equally critical.
Integration with healthcare providers has led to a “What’s in it for me?” mentality for HLTH attendees. I saw many booths focused on both patient and provider benefits rather than simply one or the other. Beyond the creation of innovative products, the emphasis must lie in improving operational efficiency and addressing the persistent clinician shortage facing the sector. The integration of technology should serve as a complement to healthcare professionals, ultimately enhancing the accessibility and effectiveness of the system.
By far the most talked about topic at HLTH this year was generative AI and the impact that it will have on the industry. Artificial intelligence is at the forefront of innovation, this next-generation AI promises to revolutionize healthcare with capabilities ranging from predictive analytics to personalized treatment plans. At MediKarma, we believe that when a patient is inspired to take charge of their own health, everyone wins. Generative AI and actionable AI are revolutionizing healthcare to elevate how patients are virtually engaged and enabled to be more proactive about their own health with preventative care.