Growth Driving Revitalization
March 19, 2012 § Leave a Comment
Everyone in the industry knows mobile health (mHealth) is experiencing explosive growth. A recent report out by Massachusetts-based BCC Research forecasts the market to grow by more than 130 percent over the next four years. This results in a global business of $27.3 billion by the middle of the decade.
While venture capitalists and entrepreneurs are all looking for major payoffs that result from this type of heady growth, something far more fundamental is at play–how the health care industry interacts with the patients they serve.
Over the past five years, we’ve worked with some of the world’s leading life science companies and initially, mobile apps were viewed as cosmetic add-ons; pure brand programs that had all of the clinical value of a new logo or ad campaign. But now, strategies are evolving as the clinical power of mobile technology is becoming apparent. The power of mobile health–and ultimately its success–is in delivering care to people wherever they are and in ways that can transform their lives and make health care more cost effective.
For instance, the CARD application, which Preventice developed in collaboration with Mayo Clinic, makes it easier for people with skin allergies (also known as contact dermatitis) to manage their allergies and avoid unwanted trips to the doctor by giving them immediate, anytime access to the world’s most complete list of known allergens via their iPhone or iPad. CARD addresses a real clinical need in a way that is user friendly and accessible to anyone with access to a smartphone or tablet.
So, while it’s easy to be impressed by the financial and economic potential of mobile health, the ultimate measure of success will not be our ability to deliver financial dividends, but our capactiy to address clinical needs and reduce health care spending in ways that fit the reality of how we live, work and receive care. At Preventice, we know this outcome will not come easy, but we’re prepared to earn it every day. We welcome this challenge because we believe that, in conjunction with our strategic partners, we have the potential to do great things for people around the world.