4 Ways Entrepreneurs Bring Innovation to the Healthcare Space

Think about the last time you went to the doctor. Now think about how technology made your doctor’s job more difficult. They spend the majority of their appointments staring at computer screens. They get frustrated as they try to find the right place to record your diagnosis and prescriptions. Plus, most offices still have computer systems from the late twentieth century. This technology problem is causing a lot of problems with doctors. In fact, many hospital staff members are unhappy with the technology they have to work with. The result is that doctors are further strained as they are forced to add more patients to their workload and deal with outdated systems.

This is one area where start-up entrepreneurs can use their innovation to start a business that will succeed in the healthcare industry. However, this is not going to be a cheap or quick endeavor, and many entrepreneurs are going to need help from investors. Using the funds they got from a reputable venture capital firm, like Xfund, entrepreneurs can start to work on the different solutions they can use to provide a better healthcare experience. Here are some ways you can make your ventures more innovative and more likely to be successful.

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1. Think Outside the Box

Today, even more doctors are using electronic health record systems to record their patients’ data. This is due to a medical stimulus that helped physicians and hospitals pay to purchase these systems. However, this left offices to rely on a small number of distributors because these systems are complicated to develop and sell. In response to this crisis, people engaged in entrepreneurship have tried to develop add ons that doctors can use to enhance their experience using these systems. While this is something you can try, it has already been attempted by a lot of people, none of whom have been successful. This is because the companies producing the recording systems have done their best to keep a monopoly over their programs, and they are incredibly complex, so plug-ins rarely work.

To provide a solution for this dilemma, you are going to need to think outside the box. Obviously, the standard response to the problem is not working to remedy this technological conundrum. Therefore, each entrepreneur who tries to tackle the world of complex systems will need to be able to offer a completely different solution. Perhaps you create a mobile app that doctors can use from a tablet while they work with patients. You could also try including a speech-to-text solution, so doctors don’t have to spend as much time looking at screens and typing while they work.

2. Look at Other Industries for Inspiration

On a different note, you will probably need to look to other industries for inspiration, simply because healthcare technology is so far behind. One sure place you can look is the banking and investment industry. Modern banks have created virtual systems that have almost completely removed them from interacting with customers. While doctor’s visits are obviously something that cannot be conducted virtually every time, the industry could benefit from apps that work with mobile devices and offer friendly competition between offices. Aside from the financial world, several other industries can offer a more modern system for entrepreneurs to find inspiration.

3. Innovation Beyond Sick Care

Insurance companies are now shifting their focus to keeping their clients healthy. In other words, the healthcare space is striving to figure out why people get sick and how to prevent these triggers. This means that our healthcare is shifting from sick care to health care. If you are wondering how to start your own business that will become a hit in the healthcare space, you should consider these trends. Think about the potential for apps and other systems that can be developed to track the causes of illnesses. Another option is to consider the different systems you could use that tackle the prevention of illnesses.

4. Tap Into the Quantified Self

Patients are the primary source of information about their own health. Most people are combining exercise trackers, nutritional apps, and scales to keep track of their overall health easily. An entrepreneur with enough innovation could figure out how to connect the data that patients are collecting through these devices to doctor’s offices. Combining the data from outside of the office with information gathered through testing and visits can lead to more personalized healthcare plans that are more effective than the standard actions taken with only data gathered by doctors.

While several healthcare areas can benefit from an entrepreneur’s innovation, they all seem to focus on keeping people healthier and making doctors’ jobs easier. By focusing on these areas, you can find ways to improve a doctor’s ability to perform their job and the healthcare experience a patient endures. This is one way that you can ensure your success as an entrepreneur.


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