Image source: Google
The COVID-19has dramatically boost up digital health in the U.S and facilitated how people consulted physicians and urgent care providers amid lockdown. According to a report by McKinsey, the healthcare expenditure of the US has been estimated up to $250 billion during this lockdown. Considering the new normal, the concept of digital health is undoubtedly here to stay, but the experience differs from provider to provider.
Delivering healthcare virtually across the country is not an easy task. It is not as simple as just sending out a Zoom invite for an annual checkup. The providers need to be very careful and alert at every step, from doctors providing care remotely to choosing a payment processor and health record organizer. Health care providers and startups can opt for white label solutions with companies who have been working publicly, like Teladoc and Truepill, for a long time and have some validation.
Starting a startup in this sector is the real challenge. You have to decide from a long list of things. From production to the end product, what to outsource, and what to build. Should you depend on others for your staffing? Is it better to use Zoom or build your own platform for video conferences?
In March 2021 SteadyMD, a telehealth startup, raised a $25 million Series B funding which was led by Lux Capital, to build an infrastructure that makes it feasible for other companies to offer telehealth services. He is working to address the pain point that is faced in the years earlier, for example, the complexity of launching telehealth services in all 50 states.
The company was developed in 2016 to provide high-quality and trustful primary care for physical stores. SteadyMD built a set of tools to work with integrations of EMR, doctor-patient communication platforms, digital hiring and forecasting software, and prescription referral and operations. This whole process took some time, but today it is known as an “AWS for Healthcare”.
It’s not about technology capabilities, Friedman says. “Very large companies that have a lot of resources are using them to help us increase our potential as a workforce.”