Disruptions in Healthcare Digital Space Can Have Adverse Impact on the Industry

Published By : 04 Aug 2015 | Published By : QYRESEARCH

Entrepreneurs are gearing up to give the healthcare industry a much-needed boost of innovation. The enthusiasm of the healthcare industry surrounding new ideas and technologies are evident from the exponential growth of funding in digital health companies during 2010-2014. 

In 2014, the digital health companies received a whopping US$4.1 billion in funding, and over US$600 million during the first quarter of 2015. The landscape of the healthcare industry is incredibly changed by innovators who brought about solutions that has made treatment and diagnosis of even the most chronic diseases less expensive, integrates, engaging, and accessible to the patients. The latest discoveries and innovation in the field are construing a plethora of exciting ideas for the healthcare industry to overcome risks. 

Managing Director of RockHealth, Malay Ghandi, speaking to the media has explained that with gradually decreasing barriers to launch and market mobile app, the barriers to entry has dramatically fallen, thereby allowing an increasing number of unethical companies to reach consumers and potentially harm them. Achieving pure “disruption” is a complicated goal to achieve for companies in the digital health space and it can significantly impact an individual’s life. This mission to positively disrupt the digital space in the healthcare sector must be coupled with a strong commitment to evaluated outcomes and evidence-based practice. It should also adhere to legal and ethical standards. 

So now the question is how is it possible to balance innovation with sound ethics? The answer is by committing the companies to a scientific foundation. This can help digital companies in the healthcare industry in suggesting standards and outcomes of their innovation, while guaranteeing the consumer’s safety at the same time.  

Furthermore, to achieve this entrepreneurs can also capitalize on science to ensure more consistency in product development. For instance, the approach will bring scientists hailing from human-subject research background to lead the team and ensure that companies not only delivers but also protects its promises to consumers. 
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