What is Digital Health and Why do We Need It?
One year after the Covid-19 pandemic began, companies working in the US digital health industry produced over $6.7 billion in capital funding. The line on that number is going straight up. That is because investors such as Bill Malloy III see a future in digital health that can help people. Digital health is by no means a new idea. However, its growth in the last year has accelerated since the Covid-19 pandemic began. It has provided tools and improved efficiencies for both doctors and patients in a world that has lived six feet apart.
What is Digital Health?
Digital health was once an easier way of planning health care solutions and preventing health problems, and it is now a necessity. It’s not a neat thing on an app or on the screen in the waiting room at your doctor’s office or clinic, if you can get in. It’s now a way of life that is defined by the World Health Organization and the FDA.
The World Health Organization defines digital health as a series of solutions that revolutionizes how the world finds a uniformity in a health standard. It’s the digital way of saying, we’re all in this together. We are now today all following the same standards, all over the world, accessing the same services in order to be healthier human beings.
This goes beyond Covid-19 identification and treatment, although this worldwide health crisis has launched an expensive need for digital solutions. The FDA notes that digital health solutions comprise a number of categories that include mobile health units, health IT, wearable health devices, personalized medicine, and telehealth and telemedicine.
Today, there’s an app for that. Check your blood pressure, your heart rate, track Parkinson’s symptoms, record your blood sugars, or keep track of your fitness goals. For investors, the industry is growing, and the needs are significant, and that is why that number keeps climbing.
Digital Health Meets Many Needs Simultaneously
Digital health is growing every quarter because it serves everyone in a different way. From a computer platform or device application to the most expensive medical devices in the world, digital health helps people every day. It is used in every health care niche today, from wellness centers to the rarest radiology labs in the world. It is used to not only analyze and perform metrics on devices and humans, but also is used to invent and develop what we will need tomorrow.
What would have taken years to develop 50 years ago, takes a fraction of that time today with digital health. It has improved health care, and it meets multiple needs simultaneously.
Health Care is More Reliable
Gone are the days when patients are wondering if they are getting the same treatment everybody else is. Health care is more reliable, and it is more empowering for patients today than ever before. From the prevention and tracking apps on their devices to watching those screens in the waiting rooms, patients have never been more in control of their health care than they are today.
It is an uncertain time in health care, but through multiple applications, digital health helps us all to understand and see the process a little better. Many of us use it every day now whether we realize it or not.
We are screening the kids before they head off to school. We are checking off boxes before we’re allowed in the bank. We are randomly checking our blood pressure while in line for a prescription. We are all leaning on digital health to help us lead more reliable lives.
For investors, it’s an important and successful time to build a business in this growing field. Even so, it’s as important to be equipped with the right tools and advice. Not every blood pressure app on Google Play is going to work. Finding the digital health tools that are reliable today, and expected to be reliable tomorrow, will be the tools worth committing to.
Invest in Digital Health Today
Digital health is remodeling the way we examine and reflect on our own health are. It’s also redesigning the way we receive health care. The use of digital health has changed the world in a very short time, and now, health care will never be the same. That impact is only expected to grow. Those numbers are what investors such as Bill Malloy III look at every day. Investing in digital health with the right tools and the right advice is a smart choice today. It has never been more needed.