Medtech Consulting
Landscape Assessment
Understanding digital health, data, and the patient
Tags: Digital Health, Strategic Foresight, Strategy, Market Intelligence
The Engagement
Assess the digital health opportunities to monetize data
The Client
A Fortune 500 global MedTech company that makes devices designed to gather extensive data from both patients and their devices.
The SOW
Uncover the digital health trends related to patient data and MedTech devices and potential product extension opportunities.
The Challenge
Explore ways to tap into market growth by making the most of patient data collected from devices.
After the acquisition integration, the Global Marketing team found itself short-staffed. Both the upstream and downstream product marketing groups needed help navigating the digital health and remote patient monitoring landscape and figuring out if data from therapeutic and diagnostic devices could be offered as a service.
On a practical level, they needed to understand how the healthcare industry typically uses blinded patient data, how to market to that space, and explore potential strategies and partnerships.
The Game Plan
A global healthcare company was integrating a cardiac and cardiovascular acquisition, which also included other therapeutic devices and direct-to-consumer nutrition products. Both implantable and external diagnostic devices gathered large amounts of data, which could be combined with other sources to give doctors and patients valuable insights.
The first step was to gain a better understanding of the digital health landscape. Since the company’s devices were only physician-facing, it needed a clear view of the trends and factors influencing decisions. Research had to extend beyond current capabilities to understand where the industry was headed and what investments would be required to participate. The assessment required a deep dive into both healthcare and the broader data industry, ultimately defining the strategy and identifying ideal partners.
The assessment featured a written report and an executive-level presentation showcasing the current state of digital health and remote patient monitoring, while providing strategic insights into the future of healthcare and data-as-a-service.
1.
Met with the client to understand their database and how it's used and the challenges to accessing data.
2.
Conducted extensive research into digital health, remote patient monitoring, and data management.
3.
Outlined the threats and opportunities of the digital health space and the level of investment.
4.
Conducted a thorough assessment of existing and emerging technologies, and competitors.
5.
Presented findings to the Executive leadership, R&D, Product Marketing, and the Digital Health team.
The Outcomes
The assessment wrapped up with a 60-page report and presentation detailing the current landscape and future outlook for digital health and remote patient monitoring. The main takeaway was clear—just delivering data isn’t enough. To seize future opportunities in healthcare, the focus needed to shift to the patient. This approach would require forming specific partnerships, which were identified along with suggested timelines and investment needs.
The Value Delivered
Comprehensive report and presentation with a data as a service strategy, timeline, and potential partners.
MedTech and medical device companies create products that not only provide therapy but also gather vast amounts of patient data. In this case, the client wanted to explore how anonymized data could be packaged into a service.
The trend shows that providers are looking for systems that make it simple to link data, gain insights, and generate easy-to-share patient reports. This meant shifting the focus from the data itself to the patient. That subtle change helped uncover potential partnerships and determine the best points in the healthcare continuum to deploy a solution. Simply delivering data isn’t enough.
Current State and Outlook for Digital Health
A comprehensive review of the use-cases, laws, and trends for digital health and the role of data.
Market Dynamics
The market size and growth potential of the cardiac and cardiovascular segments.
Investment Trends
The level of private investment in remote patient monitoring devices, data aggregation systems, and EMR/EHR platforms.
The next Evolution of Care
The role of tech giants in the concentric circles of patient data and how they accelerate turning information into patient insights.
Strategic Recommendations and Partners
Recommendations of how to push further into the space with potential partners and timelines.
HVG Executive Solutions
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