Insights

How COVID-19 is changing the face of the digital health space

Michael Marx, Vice President of Innovation, UST Innovation Israel

The COVID-19 pandemic has accelerated the adoption of many digital health and wellness technologies by improving stakeholder awareness and credibility while driving favorable lasting shifts. However, while the digital health and therapeutics landscape is filled with promise and potential, the pace of change poses challenges for companies to get viable solutions into the market.

Even before COVID-19, this trend was apparent as the global digital health market was projected to reach $380 billion by 2024, growing 26 percent annually. In addition, more than 300,000 digital health applications currently exist on the market, with approximately 200 more being added each day from a numbers perspective.

Source: American Medical Association, Digital Health Study, Sep 2016; IQVIA Institute Analysis, Sep 2017

The pandemic has pushed advancements in digital health, causing deployment of solutions that address urgent needs during, from immediate outbreak response to post-pandemic contingencies.

Around the world, we see a race to launch useful applications. As an active innovation hub in digital healthcare, Israeli start-ups, in particular, are coming up with new solutions to some of the problems the pandemic has brought to light.

Diagnostics.ai, has been working toward complete automation of PCR testing for COVID-19 using artificial intelligence (AI). Currently being tested at King’s College Hospital NHS London, the pcr.ai method would double the number of samples tested per day without additional personnel resources.

Another great example is Datos Health, which introduced a Coronavirus Telemedicine Program for hospitals and HMOs to provide online symptom-checking and video consultations to COVID-19 patients who don’t need hospitalization.

Vocalis Health, an AI health tech company, is pioneering voice-based tools that screen, detect, monitor, and predict health conditions, symptoms and outcomes. Based on clinical trials initiated in March 2020, Vocalis Health has identified a vocal biomarker for COVID-19 that enables highly scalable mass screening using voice. This product, known as VocalisCheck, is being utilized to allow for a safer return to work and guide PCR testing for COVID-19 globally.

Another excellent example of innovation during COVID-19 is Medorion. This SaaS solution enables healthcare organizations to create, manage, and measure highly personalized communication plans using behavioral science best practices and insights derived from clinical parameters in claims data. During the initial outbreak of COVID-19, a prominent health plan approached Medorion to help better communicate with high-risk populations about pandemic-related health risks. Their goal was to demonstrate that their reliability is consistent despite instability, reducing member anxiety during the health emergency.

Fostering digital health innovation to address actual needs and not perceived ones, mainly due to COVID-19, leads to significant improvements in integrating technological solutions, even from sources outside of traditional healthcare. Therefore, now more than ever, it is vital to leverage the knowledge and leadership of the Israeli industry to find innovative solutions and ventures such as these that will help save lives.

UST Innovation Israel is focused on addressing challenges in nurturing Israeli innovations and providing them with reach across the globe.

To learn more about growth opportunities with open innovation, contact UST Innovation Israel.