The digital healthcare revolution has already begun to pick up steam in 2022
FREMONT, CA: As clinicians and patients explore for new and better ways to improve healthcare, the digital healthcare revolution has already begun, and it will pick up steam in 2022. Companies with great offerings, management teams, and balance sheets stand to gain a lot of profit.
In the first nine months of 2021, healthcare deals were huge. According to Rock Health, they raised 21.3 billion dollars in venture capital across 541 agreements, shattering the previous record of 14.6 billion dollars achieved in 2020. However, with the usage of AI, IoT, and data analytics, startups will continue to lead the way in innovation, especially as data becomes the fundamental currency of healthcare.
According to McKinsey statistics, virtual visits increased over 40 times during the pandemic, demonstrating how telemedicine could revolutionize the way one thinks about care interactions. The majority of these encounters revolved around acute care. However, in order for telemedicine to reach its full potential, patients must be engaged more regularly, especially in the case of chronic diseases. As the baby boomer generation ages, chronic care costs are expected to climb, putting more burden on the healthcare system. Diabetes is one chronic ailment where telemedicine will play a bigger role. That's why Teladoc Health, a market leader, paid 18.5 billion dollars for Livongo last year.
Entrepreneurs and investors are expected to expand telemedicine into more chronic care areas, such as cardiology, by 2022. A heart attack occurs every 40 seconds in the United States today, and heart disease costs the country 219 billion dollars each year. Cardiovascular disease can be diagnosed and treated through telehealth, which is a convenient and cost-effective option. Patients in remote or rural areas, for example, can use telehealth to connect with cardiologists and receive therapy without having to travel long distances.
Overall, in 2022, telehealth players are expected to significantly expand their offerings across the chronic care landscape.