The pandemic provided the healthcare sector with some challenging lessons. The undervaluation of primary care and the difficulty in obtaining general and specialist care outside of urban areas were among the issues that needed to be addressed.
As per a study, the global healthcare market will reach $665.37 billion by 2028. The healthcare industry has enthusiastically embraced the ongoing technology transformation, which is occurring across all professional sectors.
These cutting-edge healthcare organizations employed technology to scale and provide treatment in areas that would not otherwise have access to basic healthcare.
Companies Revolutionizing the Health Industry
To provide more individuals with access to basic healthcare, Walgreens and VillageMD partnered to place primary care clinics next to its pharmacies in underserved neighborhoods.
Apart from these companies, there is one fast-growing contract research and clinical biomanufacturing business called Scorpion Biological Services. Even tiny labs may now analyze the COVID-19 strains, and we have the technology to thank for it.
Here are some of the top innovative companies revolutionizing the health industry.
Walgreens
2020 will mark the year that Walgreens and Village MD collaborate to expand community care. Over the following five years, the first agreement called for the opening 500–700 co-located primary care clinics. Walgreens increased its commitment last October when its parent company invested $5.2 billion in Village MD to establish 1,000 co-located primary care practices by 2027.
Eighty-one of the co-located clinics have been launched by the companies so far. Value-based care is used by Village MD, which operates 230 standalone clinics in 15 cities. As a result, insurers pay a fixed charge for patient care rather than paying for each individual service that customers utilize.
Establishing a connection between the doctor’s office and the pharmacy can help guarantee patients with chronic diseases stay up to date on their meds is what makes this relationship so intriguing. When fewer Americans have a primary care physician, placing clinics close to Walgreens stores also means enhancing the accessibility and convenience of primary care.
Brightline
Brightline, a 2019 startup that is quickly growing, provides behavioral telehealth services to kids and families through online coaching programs and virtual counseling sessions. The previous year, the business added Florida, Illinois, Massachusetts, Texas, and Washington to its list of states where Brightline Care therapeutic services are now available.
This includes behavior therapy, assessment and medication assistance, and speech therapy, all provided by qualified professionals with experience treating children and adolescents with various conditions, including anxiety, depression, ADHD, disruptive behavior, and others.
Importantly, these services are now accessible through major health plans such as Primera, ComPsych, Blue Cross of Massachusetts, Blue Cross Blue Shield of California, and Cross of California.
The organization is extending its offerings for kids and teenagers who identify as LGBTQ and will begin offering services for kids with an autism spectrum disorder in 2022.
Naomi Allen, a former head of growth at the firm Livongo, a successful digital diabetes care solution, developed and currently serves as the CEO of this behavioral health platform.
Final Thoughts
Improvements in data gathering and communications accelerated outcomes in research and clinical trials, and enhanced medical equipment for patients are just some of the advantages brought about by the application of AI in the healthcare industry.
Startups in the health technology industry have fundamentally altered the approach taken to provide medical treatment in countries worldwide. They are altering the way that all of us live as well as the manner in which we take care of our health.
