Digital therapeutics for healthcare (DTx) firms have dramatically altered the healthcare sector for the better in less than a decade. DTx is addressing both physical and mental health disorders that were previously exclusively treated in an office after being cleared by the FDA and arriving in patients’ pockets, hands, and care plans. DTx is more inexpensive, capable, and patient-centric than ever before, thanks to the technology underpinning these solutions that is constantly developing and inventing. And the public is ready.
We convened a virtual discussion with leaders from fast-growing DTx startups to discuss the acceleration of DTx solutions, which has become even more critical in the wake of the epidemic. Our conversation, which included Abby Mercado, CEO and Founder of Best Shot, Robert Niichel, CEO and Founder of SmartTab, and Ed Likovich, CEO of Nymbl Science, focused on the numerous sides of digital therapeutics for healthcare
There is a clear demand for care outside of the hospital or doctor’s office, with companies developing lifestyle modification apps, symptom management, and feasible treatment programmes. The role of patients in healthcare is evolving as more data is available and improved tests are available. This trend, which we’re dubbing Dr. Consumer, means that patients can seek out detailed information about their health, and now it’s up to us to figure out what to do with it. Patients’ involvement in their own health and wellness is becoming increasingly important.
Ed Likovich argues, “It has accelerated the concept of consumerization of healthcare.” “We’re empowering people to learn, comprehend, and act on their own by placing tools in the hands of people who are interested in their health.”
The entire care distribution model will be fundamentally changed in five years, and DTx firms will be at the forefront of this transformation. While going to a doctor’s office, waiting for them to tell us what to do, and then following what the doctor says is currently the most common way to care. While this traditional strategy is unlikely to change, it does keep our health-care systems apart – a system that frequently fails patients.
By bringing care to the patient’s home, DTx is reshaping the healthcare industry. Patients now have the power and data to advocate for themselves as a result of the collaborative aspect of the programme. The more we move in the direction of virtual and digital therapeutics for healthcare as a companion to traditional care, the less patients have to go to the clinic or hospital.
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