Healthtech industry Update | Health Tech World changes in 2024 Investor outlook

Kurt Neubauer

Kurt Neubauer

At HLTH 2023 conference in Las Vegas, Bessemer investors Sofia Guerra and Steve Kraus detailed four predictions about where they think the digital health world is headed in 2024.

The Bessemer Venture Partners released at the conference a report that analysed the digital health sector’s performance over the past five years and offered words of wisdom for the next cohort of start-ups seeking to build resilient business models that can deliver long-term value.

Here the four predictions about where the digital health world is headed in 2024.

“Services-as-Software” will emerge as a new category of healthcare AI 

A new category of AI tools are emerging that deliver a service as the final product rather than providing a workflow tool where the end user completes an action. This new trend flips the SaaS model on its head. It is not a workflow tool that a user is interacting with to enable them to do work on the software, it’s going to be the work itself.

Healthcare payment companies will have to align incentives between providers and payers

There is a massive opportunity for software to connect the administrative processes of payers and providers, giving way to a more efficient healthcare payment system. For start-ups to succeed in building this software, they have to follow the money and align incentives between the two parties.

If you want to sell tech to providers, you may need to rethink your distribution model

Indirect monetization as a new distribution advantage emerging in the digital health world. Some start-ups are providing their software for free, shrinking their sales cycles and allowing them to utilize indirect monetization strategies early on.

The biopharma value chain must become more efficient

Start-ups that sell technology to biopharma research teams enable more efficient target discovery and facilitate faster and more efficient clinical trials.

According to this prediction, some big changes are expected, we will see whether everything will come true in 2024. But one thing is certain: without changes, our current healthcare system will no longer be successful possible for everyone, but there are many good approaches and innovations that promise effective healthcare, which we can develop further and transform our current system in a patient focussed, affordable platform for public health.

Here the detailed article from MedCity News:

picture – MedCity News Oct 12, 2023

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