While technology breakthroughs have always driven advances in health care, a new wave of innovation is redefining the way hospitals, clinics, and medical professionals deliver care. Powered by an enormous flow of venture capital and private equity investment, five areas of healthtech innovation are occurring in parallel: Alternative/Virtual Care, Digital Health Devices, Population Health, Health Care IT, and Life Science Health Tech.
These new categories and business models had strong momentum prior to COVID-19, but have been greatly accelerated by the pandemic. Technology-driven telemedicine, for example, has been critical in maintaining well-being and productivity during the outbreak. The widespread use of remote health care is just one illustration of the vast potential of expanding access to health care, while controlling costs.
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