AI, data and precision healthcare will be big in 2020
Michael Kisch, CEO and co-founder of Beddr, precision sleep health company, shares his view on what he thinks will be big in 2020.
Technology powering precision healthcare will be on the rise. It’s undeniable that smartwatches and fitness trackers have changed consumer health by increasing awareness and providing access to certain types of baseline data. Unfortunately these types of devices only offer generalised, ‘one size fits all’ capabilities. For example, a smartwatch may offer many different features, but it is ill equipped to provide the specific analytics or solutions to enact true change. In 2020, we will see a shift in consumer appetite for personalised care and precision treatments beyond a basic tracker that are tailor made from data insights.
Care will be supported with AI and machine learning insights. The current model of healthcare is mainly focused on after-the-fact reactive treatment. However, innovations in AI and machine learning are making it possible to utilise data to create predictive models that not only help doctors and their patients make quicker, real-time decisions but detect issues at an early enough stage to provide true preventative care.
Investor focus on data and results-driven startups. Lacklustre IPOs and scandals will make investors wary of investing in healthcare startups touting rapid growth stats. Instead, there will be an intensified focus - especially in the healthcare space but also in tech overall - on businesses that build a robust, customer (or patient) centric offering with proven outcomes and strong business performance.
Appetite for holistic solutions providing more than just technology. There is a theory that healthcare visits will increase as a result of persistent health related notifications from wearables, like Fitbit. Unfortunately, the health tracking and notifications in these unspecialised wearables still have a considerably high false-positive rate, which means they are likely to send someone to a doctor without real cause. In 2020, companies will expand offerings beyond just technology and will instead seek to combine the power of clinical data (gathered by devices), self-reported app data (to capture behavioural data) and human-led services like telemedicine and coaching, in order to provide efficient and personalised solutions.