Below is strategy #6. Anything is innovation if it goes up and to the right, y-axis be damned.
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A big concern is how frequently models should be updated. Structure of data can change, diagnostics can get better, etc. How often will these models have to be re-evaluated?
More teams, companies, academic research centers, etc. are examining the intersection of AI and healthcare resulting in lots of new open-source tools. This is making it easier for people to create their own models.
The issue of AI as a “black box decision maker” came up several times, but an interesting point raised by a physician in the audience was that we already put our trust in things like lab testing equipment and assume the results from them are correct to help guide diagnostics. AI will likely be something similar.
If you are a plug-in AI solution to another IT infrastructure, you are at their mercy. If the EMR switches midway through your project, all of your work is *poof*.
Consolidation in the space means that the back-end infrastructure and processes are a Frankenstein-esque mess. Most of the issues raised on the panels had to do with getting system to talk to each other and having standardized data.
The last two points are the opportunity for new, fully vertical companies with tech at their core (e.g. Oscar as a tech-enabled insurance competitor vs. a company selling population health analytics solutions to insurance carriers).
Owning the data generation and data warehousing points instead of plugging into someone else’s system is key if you want to be a “tech-enabled” or “AI-first” business.
We’re continuing our body series with our deep dive into the women’s health market. You can read the full report here.
For Expert Intelligence clients, we dove deeper into fertility more specifically and the new technologies, startups, and opportunities in the space. Egg freezing in particular seems to be picking up in adoption but is still prohibitively expensive for most. If the technology decreases costs and risk of the procedure is reduced, then these companies that are building out the infrastructure and front-end user experience are positioned well. Clients can see the report here.
Smarties
Are you tired of me trying to guess healthcare trends and want to hear from smarter people? Me too.
We asked 15 smart people in healthcare about the technology or business model innovations that are going to change the sector in the next 5-10 years. We analyzed their answers in this report. Check out the answers from DeepMind, Johnson & Johnson, Oak HC/FT, and more here.
P.S. BTW, at TRANSFORM, I’ll be there along with the rest of our Intelligence Unit analysts. You can book meetings with me or the other analysts using the event app to talk tech trends, competitive insights, emerging business models, startups or anything else on your mind.
