How the pandemic changed the way health tech is developed

Good afternoon! Last week marked the two year anniversary of the World Health Organization calling COVID-19 a pandemic, so we asked the experts to reflect on the way health tech products get developed and go to market has changed in that time. Questions or comments? Send us a note at [email protected].

Angela Yochem

EVP, Chief Transformation and Digital Officer at Novant Health, and Chief Operating Officer (COO) at Novant Health Enterprises

Prior to the pandemic, health care companies and their software vendors were not generally known for rapid development of new functions, granular levels of responsiveness, fluid roadmaps or in some cases even iterative or agile creation methods. Because the consumers of their products were slow and careful adopters, there was no reason to optimize for speed.

The onset of the pandemic compelled these organizations to rapidly build new functions into their products and platforms, as they were forced to incorporate pandemic-related workflows, data sets and functionality in response to the emerging challenges. This tested their appetite for rapid roadmap evolution, their ability to quickly deploy, pivot and deploy again and their ability to make decisions quickly, while still maintaining highest degrees of quality.

Meanwhile, with change comes opportunity — and many new entrants joined the health care ecosystem during the pandemic, creating an environment of greater competition and increased fragmentation. So the general sense of urgency continued to expand, even as the pace of delivery caught up with the demands created by pandemic response.

As a result, speed is now top of mind for all health tech creators. Some have adopted a more rapid and iterative approach to product management, others have streamlined their path to launch of new functions or components and still others have significantly edited their planned roadmap for the next few years. But the most interesting change I’ve seen is the willingness to co-create solutions with a variety of entities across the health care ecosystem. Coopetition is the new way forward, particularly in the face of such enhanced competition, and my belief is that jumping on those co-creation opportunities with unconventional partners will be the way that every product company in health care (and other industries) will compete in the coming years.

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Amit Phadnis

Chief Digital Officer at GE Healthcare

Yes.

Hospitals are under immense capacity and financial pressures. They need rapid plug-and-play tools that combine different data streams from different points of care to drive productivity and improve patient outcomes.

The rapid increase in patient volume from COVID-19 necessitated hospitals have a holistic picture of the resources they had available — beds, PPE, staffing, etc. In fact, at GE Healthcare we’ve had hospital CEOs remark that they’ve made more progress on digitization than they ever thought they would in the next five or seven years.

Looking ahead, the process of developing new technology is focused around utilizing the vast amounts of data that exists, refining it and making it interoperable so it can be combined with other data sets and third-party

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Urban progress director sees alternatives for expansion in technologies, overall health care in Vegas

Business enterprise homeowners who transfer to Las Vegas usually praise the city as “business-welcoming.”

And that is not just code for favorable tax structure.

“One of the significant issues that Nevada has past a favorable tax structure is governmental help at all amounts,” claims Ryan Smith, performing financial and city enhancement director for the Town of Las Vegas. “If you are a corporation searching to expand into Nevada, the access to government both of those at a point out and regional amount is unparalleled.

Ryan Smith

“We generally also act as a liaison amongst companies and developers with other departments in the town. We try to locate a realistic way to ‘yes.’ ”

Vegas Inc caught up with Smith to check with about cultivating themed business enterprise districts, the methods offered to business enterprise homeowners at city corridor, COVID-19 and extra.

A ton of companies experienced to close down simply because of the pandemic. Are they mostly reopening now, or staying replaced? And if they’ve been replaced, how is that switching the come to feel of the neighborhood?

I believe that it is a combine of both of those. The pandemic experienced important impacts on the business enterprise neighborhood, but a single of the bright places is the entrepreneurial spark that was a outcome of it. In accordance to information from the Census Bureau, Americans submitted paperwork to begin 4.3 million organizations previous calendar year. There have also been a flood of new people and enterprises that have been attracted to Vegas owing to distant do the job and not having to be tethered to classic large-price-of-living, extremely-congested parts. In August, submitting destinations counts amplified yr more than yr by 12.6% in Clark County.

Explain the city’s job in encouraging to shape the business enterprise landscape.

The metropolis has a wonderful workforce that acts as a springboard for companies. Las Vegas is a metropolis whole of business owners, and as the government, we want act as a resource box for them to create their business enterprise. Our group will work with corporations to aid with numerous features these as business licensing, permitting, incentives inside our redevelopment spot and other regions of municipal guidance.

Give us the Cliff’s Notes version of what it usually takes to get a small business up and jogging in the metropolis.

Las Vegas is a melting pot of cultures and option. There may not be a small variation of how to get your business up and managing in the city, but there is a multitude of means to support with the procedure, ranging from condition means these types of as Nevada’s Section of Small business and Business to UNLV’s Compact Business Growth Center. These sources support company by means of incorporation, business licensing, funding and scaling.

We have an Arts District and Brewery Row. What is the following topic we can seem ahead to the metropolis cultivating?

Two large alternatives are well being treatment and know-how. We have our Clinical District and Innovation Middle, but lots

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