Silicon Valley has spent US$3.5 trillion on the healthcare industry. In 2018, the investors from the Bay Area and Boston have poured billions of dollars for the improvement of healthcare. Also, they are investing in many start-ups, which may help improve access to healthcare. The trend of using virtual care solutions, medication management apps and tools, and wearables is growing from past few years. Uptake of these systems allows physicians to engage patients and access their data during visits to hospitals.
Adoption of software helps develop a number of industries. But, in case of healthcare, use of software makes no difference. According to a report by the Centers for Disease Control and Prevention (CDC), survival rate of patients is decreasing over time.
Alcoholism, suicide, and opioid consumption are the primary factors blamed for an increase in people suffering from several diseases. Also, the number of overweight people especially millennials is leading to increase in prevalence of chronic diseases.
Despite many anti-tobacco campaigns, smoking is still a problem, which is leading to deaths. Smoking might be one of the key factors leading to an increase in incidences of chronic diseases.
Early adoption of Wearable
Digital health started before flourishing from a few years ago and started replacing pens and diaries of doctors. High investment in digital healthcare and high start-up funding is improving the products and boosting its adoption over conventional methods. Additionally, notifications on smartphones have some limitations. Behavior changes in medicine are hard and challenge these apps to solve.