HealthTech trends to keep an eye out for in 2018
Venture Cup is proud to announce the launch of our new Nordic HealthTech Talents Program in collaboration with the Novo Nordisk Foundation. The aim of the program is to identify and elevate the best upcoming HealthTech solutions in the Nordics. The program will focus on both business development, personal leadership and on establishing the network needed to create successful serial entrepreneurs of tomorrow in HealthTech.
The program is aimed at university students or recent graduates who have innovative HealthTech ideas that they want to turn into world class companies. The 20 lucky participants who are accepted into the program will go through a two-track development journey including personal leadership training and business development.
Read on to find out more about the HealthTech trends to keep an eye out for in 2018 and maybe you will find inspiration for an innovative startup idea in the HealthTech sector and then you can apply to be a part of the program!
1. Digital Health Interventions
The ultimate goal with digital health is not that technology should be replacing human interaction. Instead, technology can help streamline processes or improve patient engagement. An example of how technology could help improve is through provider-centric solutions. For example, health care workers are often overwhelmed with documentation, meaning they don’t have the possibility of focusing on things that really matter, which is the patient. The solutions look for streamlining documentation practices and thereby reduce documentation workloads.
2. Big Data & Analytics
At the moment, most companies have so much data that a model with the risk factors associated with a given patient or procedure could be started. For example, using big data, predictions can be made as to what the chances are of a patient being readmitted. With the use of algorithms, faster diagnoses can be made, but also research initiatives and clinical trials. This results in improvements of healthcare delivery to individual patients and entire demographics, but also reducing costs.
The digital health transformation will become more and more mobilized with things such as fitness trackers, mobile health apps, and other wearables. This means consumers can be better informed about health. Furthermore, due to things such as telehealth and telemedicine, elderly people are enabled to age and live better lives in their own homes.
4. Artificial Intelligence
Artificial intelligence is built into systems in which individual patient data can be added to all other similar patient data. This creates a loop between patient and provider and allows for patterns to emerge. The artificial intelligence can then ‘learn’ from this and can provide research data. Artificial intelligence also starts to head towards better diagnosis with predictive analysis, for example in the form of cancer diagnostics, pathology, and image recognition.
5. Electronic Medical Records
Electronic records will become more accessible due to patients having access to their records and health history. Electronic health records allows for diagnosis and predictive analysis, but can also address things such as burnout of physicians. Electronic health records also increases security measures through cloud technology.