As part of this bill, the ONC adopted a “secure, standards-based API certification criterion” to ensure that healthcare data was made accessible to permissioned parties using a common technical framework known as FHIR (Fast Healthcare Interoperability Resources). With more patient data living in digital systems, digital health platforms gained the potential to pull in a more comprehensive record of patient health data to personalize and target care effectively.Īnother pivotal piece of legislation, the 21st Century Cures Act, was passed in 2016 and addressed key issues around information blocking and interoperability in a clinical setting. From 2009 to 2015, the percent of hospitals utilizing a basic EHR grew 7x. The HITECH Act established financial incentives for the “meaningful use” of certified qualified electronic health records (EHR). In 2009, the US government acted again in a sweeping manner to digitize the healthcare industry by signing the Health Information Technology for Economic and Clinical Health (HITECH) Act into law. With the groundwork laid for compliant patient data interoperability, new digital health platforms are empowered to capture, process, and share healthcare data as part of their care delivery services. Among several landmark provisions, HIPAA established a set of standards for the privacy and security of electronic health information including the Security and Privacy Rules which outlined requirements for confidential data sharing and patient data ownership. Healthcare technology regulation has evolved meaningfully over the past 30 years, starting with the passage of the Health Insurance Portability and Accountability (HIPAA) Act in 1996. Regulation stimulates technology adoption and enables open and secure data access. So, what has given rise to the digital health movement?īefore we dive into the market of digital health infrastructure technology, it is worth exploring why we believe digital health platforms have gained traction in the US over recent years. In fact, we’ve already seen an explosion in digital health-specific infrastructure software platforms addressing every step of the patient journey and completely transforming the internal and backend processes for healthcare organizations. As the ecosystem matures, we believe the need for specialized infrastructure technology focused on enabling the next generation of digital health platforms will continue to grow. We believe the digital health model of care delivery is here to stay and is poised to accelerate over the coming decade. Individual, technology-first (or at least technology-enabled) platforms instead specialize in a certain domain of care (i.e., Livongo* targeting diabetes, SWORD Health* targeting MSK, Hello Heart targeting heart health, Lyra Health targeting mental health, etc.) while chasing a much larger target population nationally. However, with the emergence of digital health companies over the past decade that has pushed care into the home and virtual settings, we’ve seen this model of healthcare get disrupted time and again. As patient population growth has not been a meaningful lever for overall growth for hospitals, maintaining comprehensive coverage of nearly all health conditions has been critical. Hospitals, which are regionally constrained by design, have long been required to invest in physician capacity and technology to treat conditions for both chronic and acute patients. While the traditional brick-and-mortar facility-based model of healthcare has served our communities well since the dawn of institutional health systems, the shift of care beyond the “four walls of the hospital” has accelerated in recent years, resulting in increased adoption of digitally-enabled care delivery services. Aggregate investments in US-based digital health companies nearly doubled from a previous all-time-high of ~$15B in 2020 to ~$29B and despite the cooling macroeconomic environment in 2022, digital health funding through H1 2022 tracked to well above normalized 2020 levels with ~$10B poured into the sector in the first half of the year. Rise of the Digital Health Enablement Stack: How Technology is Accelerating Innovation for Modern Care Deliveryīy all measures, 2021 was a record year for digital health fundraising.
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