Is it true that new “Standalone” technology is the critical success factor for health care startups

There are many tools and applications dedicated to healthcare professionals and patients to deal with, but most of them don’t satisfy their requirements. This factor limits the transition of digital healthcare where the startups need to work on.

I interviewed many Doctors who either run or visit clinics and small hospitals regarding their requirements of digital solutions, most of them talked about the applications and tools that already exist in the market. I was a bit surprised to see that they were not aware of it even if they were using some solutions.

Most startups are always caught up in an assumption of creating a new “stand-alone” technology to the pool of systems and applications that healthcare professionals and patients are already dealing with. But you are not alone in this healthcare universe, most of the healthcare companies which were a startup before have already done this. So it is important to understand that creating new technology won’t solve all the problems.

Many doctors are following the trend of digital health care transition and seeing the opportunity many companies have capsized on it. So today many solutions are available in the market but diversification in the medical domain makes it difficult to serve all the doctors. Each doctor has their own specialty in practice and specific requirements for their practice, so one solution can’t serve all of them. It is important for startups to understand customization is crucial.

If the startups focus on one key feature which is considered a critical success factor by their entity, that alone can’t drive the product. This forces them to bring many new features into the pipeline which increases the cost. The adverse effect of increased cost will end up as an expensive product in the market.

Therefore, It’s better to approach to analyze what’s limiting the use of existing technologies and come up with a solution to solve it. Since healthcare professionals and patients are already used to existing technology integrating your solutions with existing technologies can prove crucial to your success.