Exciting new startups are changing the face of the healthcare industry in many different ways. Take a look at four of interesting new startups in the healthcare sector:
Doximity: Celebrated Medical App
Six years ago, Nate Gross, a medical student taking time off to pursue his MBA, had a chance meeting with Epocrates co-founder Jeff Tangney. They instantly hit it off and created Doximity, a program that’s now being touted as “the hottest app in the history of medicine.” More than half of the physicians in the United States use the physician networking app to share patient information, advertise for consulting work, document their education, consult with other medical professionals, and even send and receive faxes on the go.
Gross credits his MBA, which had medical-specific programs such as courses in value-based healthcare and healthcare entrepreneurship, with giving him the insight into modern healthcare and healthcare business practices necessary to launch a successful startup.
Teladoc: Connecting Patients with Doctors
While Doximity helps doctors connect with one another, Teladoc helps them connect with patients. The start-up employs a network of U.S board-certified doctors with expertise in family medicine, internal medicine, and pediatrics. It’s the first (and currently the only) telehealth company in the United States with a provider credentialing system certified by the National Committee for Quality Assurance.
Teledoc’s physicians are available via phone or video chat 27 hours a day, seven days a week. They can resolve many patient queries remotely, more affordably and more conveniently than doctors offering in-person consultation. The app should help people facing financial hardship or living in remote areas receive better health care.
In 2014, Teladoc raised $50 million to aid further development.
MedWand: Multipurpose Medical Device
The multifunctional MedWand device has the potential to take telehealth conferences to the next level. With a MedWand device, mobile doctors won’t need to simply rely on patient testimony. The device functions as an in-ear thermometer, a digital stethoscope, a heart rate and blood oxygen sensor, a camera, and a disposable specula.
All patient data recorded by the MedWand is documented in a Health Insurance Portability and Accountability Act-compliant electronic health record (EHR). The device can also send an automatic notification to the user’s physician if his or her data exceeds normal limits. This function ensures patients receive prompt medical intervention before a problem becomes acute.
The Las Vegas-based start-up is currently taking pre-orders for its revolutionary device.
Biobots: Innovative Regenerative Medicine
Biobots has been hailed as “the future of regenerative medicine” by Global Healthcare, who also named it the most innovative healthcare startup to watch in 2015. The firm has created a compact high-resolution 3D bioprinter capable of creating functional, three-dimensional living tissue. More than 120,000 people in the United States are waiting for donor organs. Others experience chronic problems resulting from the long-term effects of post-transplant immunosuppression. The Biobots printers have the potential to help all of these people in the United States, as well as the many others with similar needs around the world.
Exciting startups like these are driving innovation and moving the healthcare industry forward. Students who earn an MBA in Healthcare are poised to be at the forefront.
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