What Is FinTech? The Basics
What is Healthtech and how does it work?
Healthtech, also known as digital health, is the intersection of healthcare and technology. It is a rapidly growing industry that aims to improve patient outcomes and streamline healthcare delivery through the use of digital tools and platforms. From telemedicine and virtual reality to artificial intelligence and blockchain, Healthtech is transforming the way we think about healthcare.
Healthtech refers to a wide range of digital technologies that are used to enhance healthcare delivery and improve patient outcomes. This includes everything from electronic health records (EHRs) and telemedicine to wearable devices and virtual reality. Healthtech also encompasses the use of big data and artificial intelligence (AI) to improve patient care and medical research.
Electronic Health Records (EHRs): Allows doctors and hospitals to store patient health information digitally and share it with other healthcare providers.
Wearable Devices: Allows patients to track their health and fitness data, such as steps taken and heart rate.
Virtual Reality: Allows patients to experience simulations of surgeries and other medical procedures, which can be used for training, research, and therapy.
Artificial Intelligence: Allows doctors to analyze large amounts of data and make more accurate diagnoses.
Blockchain: Allows patients to control their own health data and share it with healthcare providers.
Some of the biggest companies in HealthTech include:
Teladoc is a multinational telemedicine and virtual healthcare company headquartered in the United States. Primary services include telehealth, medical opinions, AI and analytics, telehealth devices and licensable platform services.
Cerner is an American supplier of health information technology services, devices, and hardware. As of February 2018, its products were in use at more than 27,000 facilities around the world. The company had more than 29,000 employees globally, with over 13,000 in Kansas City, Missouri.
Athenahealth is a private American company that provides network-enabled services for healthcare and point-of-care mobile apps in the United States. The company was founded in 1997 in San Diego and is now headquartered in Watertown, Massachusetts.
Epic Systems was founded in a basement in 1979 with 1½ employees, Epic develops software to help people get well, help people stay well, and help future generations be healthier.W
Koninklijke Philips N.V., commonly shortened to Philips, is a Dutch multinational conglomerate corporation that was founded in Eindhoven in 1891. Since 1997, it has been mostly headquartered in Amsterdam, though the Benelux headquarters is still in Eindhoven.
Medtronic plc is an American medical device company. The company’s operational and executive headquarters are in Minneapolis, Minnesota, and its legal headquarters are in Ireland due to its acquisition of Irish-based Covidien in 2015.
GE HealthCare Technologies Inc., trading as GE Healthcare, is a global medical technology company headquartered in Chicago, Illinois. It was spun-off from GE on January 4, 2023, with GE retaining 20%.
Siemens Healthineers is a German medical device company. It is the parent company for several medical technology companies and is headquartered in Erlangen, Germany. The company dates its early beginnings in 1847 to a small family business in Berlin, co-founded by Werner von Siemen
Johnson & Johnson is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods.
Boston Scientific Corporation, incorporated in Delaware, is a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices used in interventional medical specialties.
What the Future Has in Store
Investing in Healthtech startups:
If you are an HealthTech , there are many potential opportunities for investment from venture capital firms, angel investors, and other potential investors. As HealthTech continues to grow and evolve, startups in this space may be attractive to investors looking to invest in companies with promising technologies and business models. As a startup, it may be helpful to actively seek out investors who are knowledgeable and experienced in the HealthTech industry and can provide financial support, strategic guidance, and connections. Ultimately, finding the right investors can be a crucial step in helping your HealthTech startup succeed and grow.