1 Episode results for "Jed Constance"
Medical tech is the new gold rush for investors during the pandemic
"I'm just in Ho with marketplace, the economy is changing so fast it's hard to keep up. So our latest podcast is here to help it's called the marketplace minute give us just sixty seconds and we'll bring you the latest on what's happening in the economy three times a day market updates business news in hell the numbers affect your personal economy. We'll tell you what you need to know and why it matters just ask your smart speaker to play the marketplace minute or find it wherever you get your podcasts. This marketplace podcast is supported by ebay luxury watches shopping for a rare vintage or new timepiece. Find the exact watcher looking for on Ebay and trusted. It's the real deal. Thanks to ebays authenticity guarantee. No thanks no frauds. No doubt. Get your dream time piece from the trusted sellers at Ebay Dot com slash luxury watches today for domestic sales only. Medical. Attack is the new gold rush for investors during the pandemic. What could go wrong? From American public media, this is marketplace tech I'm Ali would. More and more people are seeing their doctors added distance during the pandemic in this long awaited to telehealth has investors intrigued there was already a boom in biotech investing before covid nineteen hit. But now investors are rushing to put money into all kinds of ways to modernize medicine from Boston W.. G. B. H. Radios Aaron Schachter has more personal. Medical Technology isn't especially new push your fitness further with fitbit charge to a heart rate and fitness wristband that helps you make the most of all day workouts and beyond. And the wearables are just one facet of health tech. The pandemic has shown that much of health care can be delivered at a distance and there's been a boon in telehealth platforms, online fitness classes, and Internet connected devices that are vital signs. Harry LARRIKIN IS CO author of moneyball medicine thriving in the new data driven healthcare market before Cova. Did you really have to look at these things and figure out where the world was GONNA go how fast it was going to go there all of a sudden now you're giving people i. don't WanNa say no choice but now they. Need these things and tech investors want in venture capital entities have invested nearly five and a half billion dollars in medical tech from January through June that's according to rock health a company that helps digital health startups. But there are those urging caution about the direction. These investments take all too. Often the technology has attempted to reengineer the process of care rather than leverage. The most efficient process of Care Jed constance is a healthcare consultant. For example, he says, it took years for the developers of medical records technology to get it right because early versions made it difficult for doctors to Talk to patients and fill in the required computerized forms. Constant says there's a history of companies creating what's flashy instead of what's practical and so the venture capital investor backed efforts have found them to be largely ignorant. There are also concerns that new health technology could exacerbate disparities in healthcare between rich and poor communities doctor. My mom is the former chief innovation officer. At Medicare's innovation center she says that smartwatch are fun but the kinds of devices that help most people stay healthy are often more mundane. Can you develop a tool that will help them track their medications with things? That automatically dispense medication for them and or something that will give their physicians more real time data on which medications they're actually taking according to rock health much of the venture money handed out this year went to companies developing online platforms for more telemedicine, digital pharmacies, fitness classes, and more efficient ways to deliver mental health counseling at a distance that's w. g. b. h. Aaron, chapter, and Boston consulting firm McKinsey says the speed of telehealth adoption everything from video visits to digital records means up to two hundred and fifty billion dollars in healthcare spending could soon be going towards virtual care. And now for some related links. On the other side of the Gold Rush, there's actually a story from the medical news publications stat news from just last week saying that although telemedicine is likely here to stay telehealth visits are actually dropping fast from the start of the pandemic in the spring. In April sixty, nine percent of doctors visits were virtual by mid July that number had dropped to twenty one percent. So doctors offices are having to recalibrate their scheduling and says the piece. This is exactly the sort of shifting landscape that presents a lot of risk for some of those enthusiastic tourists investors, and could be a potential red flag for the eighteen and a half billion dollar proposed merger between the telemedicine giants Tele Doc, and healthcare company Longo or the planned IPO's of telehealth companies Amwell an MD live. I, guess we'll. See. I'm Ali would and that's marketplace tech. This is a PM.