Thank god we have left 2020. I thought it was never going end. On and bloody on.
So what was it like as a healthtech entrepreneur?
Having written a book 10 years ago called “Confessions of an entrepreneur”, I thought that I would now start confessing what it’s like to be a healthtech entrepreneur today. I am the founder of digital health company, Living With, and we are right in the think of this Covid pandemic
I am going keep it short and sweet. So to kick us off, here’s my top 3 loves and 3 hates of digital health in 2020.
2020 Top 3 loves
- Finally remote monitoring became an everyday occurrence not an aspiration. Patients get treated when they need to be. Clinicians save time and cost on how they manage their patients. 2020 has kicked the healthtech industry into the future. It’s like the dotcom boom of the late 90’s. Anything is possible.
- Everyone can see that rapid innovation is critical. Yes everything still needs to be evidence based for widespread adoption. But we’re all working together to implement solutions that will make a difference. Patients and clinicians have reframed their view of healthcare. This has enabled us at LivingWith to get new digital health products to market faster. And we can see the immediate positive impact that they can have on patients’s lives. My 2020 highlight is our Living With Covid Recovery product which is helping patients treat and improve their Long Covid symptoms. #livingwithcovidrecovery
- The healthcare system has some truly amazing human beings working in it. The difference that they are making to the world and to patients through their clinical magic is awe inspiring. It makes most industries and most people in those industries look parochial and money grabbing.
2020 Top 3 hates
- The deep bureaucracy that exists within the healthcare system. It makes it so damn hard for companies like ours to get digital products into use. We see this most frequently through Information Governance. We spend days every month trying to navigate the same Information Governance (IG) questions at every NHS Trust and private company we talk to. However hard we try, it doesn’t seem to get any easier.
- Corporate decision making remains slow and tortured. Covid has made it much worse, even in areas where they want to implement something
- Everyone expects a free trial for everything in healthtech. It doesn’t matter how much or how little the investment required. It has to start free until each new prospect feels the evidence works for them.
It’s going to be another rollercoaster of a year but it will be an exciting one for healthtech. Bring it on.