A Predictive Analysis on the Future HealthTech Development and Company Growth for HealthTech Investment
As the aging population grows, the need for increased access to healthcare has also grown. To meet this need, healthcare systems have been moving from a brick-and-motor model only into virtual or digital health. With the launch of 5-G technology, information can now be exchanged in real time for personal health monitoring, health alerts and diagnosis of health problem. The growth of the internet of things in the 5-G environment has enabled digital health services to move from the semantic world into a ubiquitous pragmatic world. Health consumers will not only use e-patient records, e-payment systems but also employ social media for health consultation in the near future. Tele-medicine and other digital devices allow for health self-monitoring, checking and automatic alerts at anytime and anywhere. As a result, healthcare finance in large institutions will not only focus on the planning of the allocation of fund resources to a regional specific patient groups and health services, but also on future healthtech development, global e-payment exchange, crediting and globalization of digital health services.
Asia Financial Risk Think Tank, which is a non-profit organization that researches various companies’ potential financial risks around the world, partnered with Center for Business Development to initiate a research project on the future of healthtech finance. This project was divided into two phases. The first phase is to identify the current and future market need of the health technologies, its current and future health technology development and healthtech company growth. In our MIS 3350 Health Informatics course and HSA 6050 Marketing for Improved Health Service Delivery course, 20 students were asked to identify the top 5 healthtech companies and the top 5 current and future healthtech products, and to perform a gap analysis on the market needs, current health technology development and healthtech company’s growth. By using these data, healthtech company’s growth performance can be identified and predicted. Students used qualitative and quantitative approach to perform the analysis in the first phase of the study. The second phase of this project is to investigate the potential healthtech financial risks caused by the new healthtech development such as insurance claims across boundaries, distributed crediting across regions, financial regulations and law, data exchange across institutions, allocation and utilization of services, and global provider payment incentives. The target completion date of this project is the end of Winter 2020.
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