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Healthcare investors, entrepreneurs, and providers alike are gathered in Chicago today at MedCity INVEST, a national healthcare investing conference hosted by MedCity News and the Mid-America Healthcare Investors Network.
Among the many topics of conversation was the current state of the digital health industry. This space has exploded over the last several years, but as healthcare technology continues to advance, more and more investors have been left wondering where to find the best value in digital health.
In a panel moderated by Steven Collens, the CEO of Chicago-based healthcare startup incubator MATTER, several players in the digital health space chatted about the most effective methods for unlocking value in the industry.
The panel included Deborah Kilpatrick, the chief executive of healthcare data analytics firm Evidation Health; Marti Nyman, a vice president at UnitedHealth Group’s (UNH - Free Report) Innovation Center of Excellence; Mark Tomaino, a partner at Welsh, Carson, Anderson & Stowe; and Jim Weisman, the CEO-in-Residence of BioEnterprise.
Overall, the conversation seemed to focus primarily on promoting efficiency, quality of care, and collaboration throughout the digital health space. There was also plenty of advice given to those looking to find value and quality in the busy world of digital health.
When asked about what tends to work in this field, Tomaino responded by saying that the companies that succeed “are focusing on productivity and revenue.”
Of course, this is also a results-driven field from a health perspective. As Nyman pointed out, investors have to question whether there is a legitimate health outcome or not. “We have a high standard,” he said.
Kilpatrick argued that digital health companies have to ensure that they are properly focused. Citing cases where companies attempted to reach as large of an audience as possible--by marketing a public mobile app to a non-specific group, for example, Kilpatrick highlighted the difference between certain approaches.
Kilpatrick said that it was more effective for digital health companies to target specific, well-defined groups, which she described as a “very healthcare thing to do, but not a very technology thing to do.”
Weisman also spoke to the importance of a focus in digital health, arguing that there was an identifiable value in providing efficiency. He said that BioEnterprise has found success with companies that have identified a specific inefficiency and designed a method to improve upon it.
The panel also addressed the current chaos in Washington, which promises to have some sort of effect on the overall healthcare sector. Nevertheless, the commentators at MedCity INVEST didn’t seem too concerned about the gridlock’s impact on digital health.
Tomaino said that the issues affecting the digital health space are “agnostic from the political party,” and Weisman said that the only real impact will be on the “speed with which” we see the impact of certain digital health ideas.
Another concern that was raised centered on the possibility that digital health solutions are too focused on the “incubator culture” and are therefore disconnected from patients and healthcare providers. The panel seemed to be in universal agreement that this was a legitimate concern, but it was also pointed out that the best incubators and accelerators are aware of this problem and are actively look to engage with patients and providers.
In the end, the panel resonated optimism for the future of digital health. Unlocking value for investors is certainly important, but the experts in this field seem confident that the best digital health companies have a unique ability to do just that.
Make sure to check back here for more coverage of the MedCity INVEST conference and all of the latest news in healthcare investing!
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
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MedCity INVEST: Unlocking Value in Digital Health
Healthcare investors, entrepreneurs, and providers alike are gathered in Chicago today at MedCity INVEST, a national healthcare investing conference hosted by MedCity News and the Mid-America Healthcare Investors Network.
Among the many topics of conversation was the current state of the digital health industry. This space has exploded over the last several years, but as healthcare technology continues to advance, more and more investors have been left wondering where to find the best value in digital health.
In a panel moderated by Steven Collens, the CEO of Chicago-based healthcare startup incubator MATTER, several players in the digital health space chatted about the most effective methods for unlocking value in the industry.
The panel included Deborah Kilpatrick, the chief executive of healthcare data analytics firm Evidation Health; Marti Nyman, a vice president at UnitedHealth Group’s (UNH - Free Report) Innovation Center of Excellence; Mark Tomaino, a partner at Welsh, Carson, Anderson & Stowe; and Jim Weisman, the CEO-in-Residence of BioEnterprise.
Overall, the conversation seemed to focus primarily on promoting efficiency, quality of care, and collaboration throughout the digital health space. There was also plenty of advice given to those looking to find value and quality in the busy world of digital health.
When asked about what tends to work in this field, Tomaino responded by saying that the companies that succeed “are focusing on productivity and revenue.”
Of course, this is also a results-driven field from a health perspective. As Nyman pointed out, investors have to question whether there is a legitimate health outcome or not. “We have a high standard,” he said.
Kilpatrick argued that digital health companies have to ensure that they are properly focused. Citing cases where companies attempted to reach as large of an audience as possible--by marketing a public mobile app to a non-specific group, for example, Kilpatrick highlighted the difference between certain approaches.
Kilpatrick said that it was more effective for digital health companies to target specific, well-defined groups, which she described as a “very healthcare thing to do, but not a very technology thing to do.”
Weisman also spoke to the importance of a focus in digital health, arguing that there was an identifiable value in providing efficiency. He said that BioEnterprise has found success with companies that have identified a specific inefficiency and designed a method to improve upon it.
The panel also addressed the current chaos in Washington, which promises to have some sort of effect on the overall healthcare sector. Nevertheless, the commentators at MedCity INVEST didn’t seem too concerned about the gridlock’s impact on digital health.
Tomaino said that the issues affecting the digital health space are “agnostic from the political party,” and Weisman said that the only real impact will be on the “speed with which” we see the impact of certain digital health ideas.
Another concern that was raised centered on the possibility that digital health solutions are too focused on the “incubator culture” and are therefore disconnected from patients and healthcare providers. The panel seemed to be in universal agreement that this was a legitimate concern, but it was also pointed out that the best incubators and accelerators are aware of this problem and are actively look to engage with patients and providers.
In the end, the panel resonated optimism for the future of digital health. Unlocking value for investors is certainly important, but the experts in this field seem confident that the best digital health companies have a unique ability to do just that.
Make sure to check back here for more coverage of the MedCity INVEST conference and all of the latest news in healthcare investing!
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street.
They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>