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Six in ten people told Kantar that privacy concerns like data breaches prevent them from using wearable tracking devices or using telemedicine services. While most consumers say technology enables us to be connected with our health care, trust is a barrier to digital engagement.
This new work-flow for clinicians led to fast-adoption of virtual care platforms – telemedicine, tele-conferencing with patients via apps like Zoom and Skype along with commercially-built telehealth channels, and the prescription and use of remote health monitoring devices placed in patients’ homes.
Healthcare stakeholders such as health systems, pharmaceutical companies, biotech and life sciences firms, and insurance companies serve patients as end users. Market forces drove acceleration in digital health, specifically telemedicine, which were sorely needed for several years.
While giants like UnitedHealth or biotech stars like Vertex Pharmaceuticals often dominate headlines, Doximitys niche focus and execution have propelled it ahead. Unlike broader telemedicine plays like Teladoc, Doximitys physician-centric model and subscription-based revenue95% from pharma and health systemsgive it a unique edge.
Telemedicine, remote monitoring, and other digital tools became crucial for patients and healthcare providers. However, as with any early-stage biotech company, there's inherent risk involved, and their long-term success hinges on the successful development and commercialization of their drugs.
With advances in telemedicine, meanwhile, and with rapid increases in the numbers of next-generation medical devices capable of harnessing artificial intelligence, both doctors and patients now have even more medical information available to them.
Telemedicine, remote monitoring, and other digital tools became crucial for patients and healthcare providers. However, as with any early-stage biotech company, there's inherent risk involved, and their long-term success hinges on the successful development and commercialization of their drugs.
The economic and healthcare system impacts of this were explored in the Post-Covid Healthcare Landscape , delivered by Fitch Solutions’ Jamie Davies and Beau Noafshar, leaders in the Pharmaceuticals, Healthcare, and Medical Devices groups.
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