Chronic disease management is expected to cost USD 42 trillion by 2030. According to the Centers for Disease Control and Prevention, 90 percent of the US healthcare budget of USD 3.3 trillion is spent on treating people with chronic and mental health conditions. Complicating matters, a global shortage of healthcare workers is expected to reach 15 million by 2030. Many people in the healthcare industry believe that there is a clear need for technological intervention to drive efficiency gains.

With COVID-19 fueling the need for remote patient engagement and mental wellbeing,Digital DTX solutions, with their ability to provide evidence-based personalised interventions and care, can play a significant role in addressing the growing shortage of medical personnel and efficiently managing chronic conditions.

Organizations interested in investing in digital healthcare can take one of several approaches:

Partner: Several organisations have already made significant progress in developing digital solutions that address specific needs in the healthcare market. Happify, for example, offers digital interventions to help improve mental health, Cognoa specialises inDigital DTX solutions for autism treatment and diagnosis, and Omada Health focuses on chronic disease management, among other things. One of the quickest ways for enterprises to build a powerful digital healthcare ecosystem is to partner with such startups and leverage their existing client base and service experience, acting as an aggregator in providing services to a broader range of end customers.

Invest & Acquire: Investments in well-being and care delivery innovators increased rapidly between 2018 and 2019, with health tech companies and innovators leveraging technologies such as AI, Deep Learning, and the Internet of Things (IoT) to pique investor interest. According to reports, investments in health tech innovation exceeded USD 7.4 billion in 2019, and this figure is only expected to rise in the coming years. Leading technology companies and service providers may consider investing in suitable health tech innovators, or even outright acquisition, in order to quickly expand into the digital healthcare market.

Start Afresh: Despite the fact that numerous organisations are working to identify digital health solutions for various medical areas, this emerging technology-driven sector still has significant gaps in the market.

As different medical fields, such as psychology, neurology, physiology, and so on, require varying personalised therapy programmes and clinical content capable of addressing specific pain points, there is tremendous opportunity for enterprises looking to enter this market.

However, when developing a newDigital DTX solution, organisations must ensure that they meet a variety of industry standards, including solution design and quality, usability, clinical evaluation, regulatory compliance, data privacy, and security.

Conclusion:

Digital DTX, in conjunction with other digital health platforms, are poised to transform the healthcare system by enabling physicians to provide evidence-based clinical interventions that will aid in improving patients’ overall health outcomes. Digital DTX improve care efficiency, personalization, and accuracy by integrating data from multiple sources and applying advanced analytics.

Organizations that establish the necessary infrastructure, build the required technology base, and identify the right partnerships will have an early mover advantage in the market and will be positioned to reap significant future benefits from investments made today.