Forward looking flashback: 3 #Healthcare news bytes of 2014
Note: Below was written on December 22nd, 2013, but “publish” button was never pressed.. The My Basis acquisition announcement triggered my memory. The idea was to publish this after all the new year’s resolutions, recaps of 2013 and predictions for 2014 were over…
“We are well past last year’s recaps and 2014 bold predictions season: what technologies to watch, hottest trends, investment forecasts, people who will make a difference and much more. So my flashback of Healthcare in 2014 is an attempt to jump into the digital health time machine and pick out top 3 trends and events that will shape the future of 2015 health innovation on December 31st, 2014 – please note the complete fictional characteristics of this post.)
Sitting near a fireplace, it is nice to reflect on 2014 and all the innovation that pushed digital healthcare forward this year to make an impact to us, the healthcare consumers, so without further adieu my top 3 :
Consumer genetic tests get a boost with FDA clearance
I am sure you all remember the big news last December, when the FDA arbitrarily issued a warning letter targeted at 23andme to stop marketing it’s genetics kit that has been on the market since 2007. Since early in the year, only ancestry information was possible with the kit, 23andme made a smart move in lowering the price to $49.95 with a promise to “turn-on” full genetic analysis once the FDA cleared the pathway. This was a smart move to bring a great amount of consumers to the platform. The promised collaboration with the FDA was successful and 23andme resumed the analysis of new kits as well as a backlog of hundreds of thousands of ancestry kits giving the company a greater pool of consumers to analyze for the humanity’s social good. In other news, an innovative Saas EHR, Dr.Chrono integrated 23andme data (with consumer consent of course) to help physicians make sense of the genetic data in a clear and concise format.
Medical Body area networks and quantified self moved even closer to mass adoption
We made a lot of progress in this space and the 2014 QS conference was a huge success with the most attended delegates ever! To paraphrase my good friend and a fellow Health 2.0 (London) Chapter organizer, Maneesh Juneja says – “our bodies produce a lot of data, we just can’t capture it all yet but the potential is there”. Well this year we have seen at least a dozen new fitness trackers including the one from Sony at CES, that joined the early leaders in the space: FitBit, Basis Science and Jawbone UP. Intel which is a big investor in Basis , purchased them outright in May to continue their foray into wearables science. They also led an investment round into TicTrac to consolidate the data for their investments and beyond. Cleveland Clinic registered the 2360-2390 MHz FCC approved hospital band and partnered with Cisco Systems to pilot their Connected Patient platform.
Investors continue rushing into Digital Health
Over $2B was pumped into digital health space by investors in 2013 but this year the industry saw even a larger increase, reaching $3.13B. Corporate venture arms poured money into the market as a way to acquire technology and talent to fast forward their internal innovation processes (yep internal innovation – is there such a thing?). The long tail of the investment community, who was sitting on the sidelines, also has jumped significantly bringing new logos to the investor’s board. Big Data Clinical Analytics and Wearbles for the first time individually surpassed EHR Software investments showcasing the need for body-producing data captures and actionable analysis focused on preventative care.
That’s all folks.