The limitations of our analog, siloed health systems have been exposed by the crisis, which means digital health solutions will be hot in 2021, especially if they can leverage a modern tech stack that is optimized for interoperability and value. Digital health solutions were hot in 2020 ($14B invested across 440 deals according to Rock Health, up from $7.4B in 2019). In 2021, platforms that create a shared source of truth across an ecosystem will be critical to solving the hairy foundational problems that can’t be solved by any single company on its own. And we are increasingly recognizing that solving our cost and quality issues requires collaboration across networks.
Virtual healthcare requires technology that is optimized for virtual-first services, value-based payments, and patient-centered care. For virtual care to thrive, we must introduce new business models for supporting functions like provider identity (credentialing, directories), care coordination, and value-based payments. The use of sensors, remote monitoring tools, wearables, and other connected devices are enablers of an “always-on” triage system.
The majority of our health is a result of what happens in the real world outside the clinical setting. The combination of real-world data and traditional clinical and business data is a critical enabler for next-generation solutions. Innovative solutions (ex. Signal Stream) establish a chronological shared source of truth for business, clinical, and real-world data. This new data layer creates a development platform for a variety of clinically-integrated business workflows and programable financial solutions.
For value-based care and the ability to take risk, it’s all about the ability to acquire, share and trust a combination of clinical, business, and real-world data in as near real-time as possible. Real-time data combined with artificial intelligence and machine learning can improve consumer engagement, manage population health, improve drug development and facilitate pro-active patient engagement.
Distributed ledger technologies (and derivatives thereof) are a part of the stack that introduce trust and powers transparency. These new systems allow us to fuse the clinical data layer, the business data layer, and the banking layer into a new chronological, clinically integrated fintech rail that can free us from our addiction to poorly designed payment and incentivization structures.
Similarly in Supply Chain, we expect to see a focus on moving from systems of record to systems of collaboration.