CNBC recently released their list of the top 100 startups to watch, and the yearly list has some noteworthy implications for the healthcare landscape.
Amid the usual tech and financial startup candidates, there are 14 different healthcare companies featured. These companies are going to bat with the major players who have traditionally had a monopoly on where patient and benefit provider dollars are spent.
The abundance of startups rethinking the healthcare model prove that a lot of other companies agree with what we know at Captiva: the status quo of ridiculous pricing structures, low accountability and unchecked cost increases hasn’t been working.
Although these startups vary in their structure, purpose and mission, there are also a few common threads that prove an indicator of where healthcare might be headed.
Tech and Data-Driven Treatments
Many of the companies featured aim to revolutionize the way that care is provided through applying technology and big data to healthcare — themes we’ve talked about before.
Aira Tech is using rapidly developing augmented reality technology to create glasses for blind and low-vision individuals. Keeps is engineering new ways to prevent hair loss and male pattern baldness. SciBack is creating new drugs that can combat diseases that resist antibiotics.
On the data side of things, Viome is analyzing patients’ genetic sequencing and microbiome to determine what nutrients they might need. RDMD takes patient medical records and analyzes them to develop new treatments.
One of the most clear and direct uses of big data comes from DocSync, a tool that directly analyzes data to increase healthcare practice effectiveness.
Telemedicine is one of the most formidable forces in 2018’s healthcare landscape, estimated to be an industry worth $66 billion by 2021.
The startups making a mark through digitally provided distance medicine start with Buoy Health, an app-based diagnostic tool. Solv allows patients to cut back on wait time by booking same day appointments.
Some of the new initiatives hone in on specific kinds of treatment. Curology centers on skincare via online consultation, HabitNu offers digital programs for diabetes treatment and Nurx provides reproductive health services and education.
Streamlining Healthcare Provision
A few of these startups are focused on solving the big question that Captiva has already been answering for businesses: how can we streamline the process of providing healthcare for employees?
Carrot Fertility aims to come alongside employers to create plans specifically for fertility benefits for their companies. Their approach is centered around smart data and personalizing the process to better target care.
The reality is, a lot of these startups are tapping into aspects Captiva already knows work: concierge-style service. Sound data analytics. Elimination of the big corporate middleman, wherever possible.
If you’re ready for your company to join the cutting edge, Captiva can help. Contact us to hear how we can improve the way your business provides benefits.