As usual, a great blog posting from Laurie Orlov - this time about the breathless pace of new innovations and startups in the healthcare. Just look at this video to see what I mean.
Remember that most of healthcare spending is related to the older person.
Laurie concludes her blog by saying.
Parallel health tech universes are underway. On the one hand, we have the 59-second pitch of consumer-oriented Digital Health/wellness startups. On the other hand, we also have the multi-year approval cycle for drugs, medical devices, hospital and clinic equipment -- not to mention health IT systems from the long-time players.
Are these parallel lines going to intersect – and at what point? And is that what investors believe when they listen to a 59-second pitch or scan the list of upcoming and past pitch events?
In the UK we would add to the list of the slow and lumbersome IT systems the NHS.
Don't get me wrong, I love this new technology and its immense potential but unless the companies operating in this space realise that the NHS will change very slowly and probably for the worse as its funding is inevitably cut. There is that and the mentality/fear that infects the NHS to adopting new technologies that will change the way things are done.
My advice for medical tech startups is focus on the consumer or the private sector and forget all about the NHS. Dick Stroud