The report offers practical advice and unique industry perspectives for early-stage founders aiming to engage with health systems
Forum Ventures, an early-stage B2B SaaS fund, accelerator, and venture studio, released a new report entitled The New Landscape Of Healthcare: What Healthtech Startups Need To Know To Win. The report offers an exploration of the intricacies of the modern health system, helping early-stage healthtech startups build their businesses around solving healthcare’s most pressing challenges.
The United States healthcare landscape is a diverse ecosystem comprising over 6,000 hospitals, each playing a crucial role in providing essential care and services to millions of Americans annually. In the midst of enduring challenges such as financial strains and staff shortages, innovation remains pivotal for advancing the industry.
“We believe that technology has the power to transform healthcare and improve outcomes for patients across the globe,” says Michael Cardamone, CEO & Managing Partner at Forum Ventures. “We aim to equip healthtech startups with the knowledge and insights they need to navigate the complexities of the industry, establish product-market fit, and drive meaningful change.”
To shed light on the most pressing needs and challenges facing health systems today, Forum connected with innovation and technology executives at four of the largest U.S. health systems: Mayo Clinic Ventures, Hackensack Meridian Health, Cone Health Ventures, and University Hospitals Ventures. By tapping into the insights of these top-tier industry luminaries, the report provides an in-depth perspective on the critical areas where innovation is most needed to impact both patient outcomes and the bottom line, including:
- Operational efficiencies
- Remote and hybrid care
- Accessibility to care
- Early detection or AI-driven diagnostics
Each section of the report includes actionable insights and current innovation examples from these four health systems, providing early-stage healthtech founders with invaluable guidance on where to focus their efforts for maximum impact. The report also explores the earliest use cases of AI in healthcare and reveals how health systems are starting to navigate their own use of AI in innovation. Healthtech venture funding is expected to skyrocket by the end of 2023, highlighting the growing appetite for disruptive solutions in the industry. From AI-driven diagnostics to remote care initiatives spurred by the COVID-19 pandemic, there’s no shortage of opportunities for startups.
“Innovation is critical in healthcare at this particular juncture, from integrating AI and advanced technologies to developing new operational models and engaging with startups,” explains Sandra Powell-Elliott, Chief Innovation and Commercialization Officer at Hackensack Meridian Health. “We are looking to innovation as a means to improve patient care, enhance operational efficiency, and address the complex challenges we are facing today, while staying mindful of hospital system constraints and budgetary limitations.”
The New Landscape Of Healthcare: What Healthtech Startups Need To Know To Win is available for free download today on the Forum VC website [pending hyperlink to gated page]. Additionally, explore Forum’s early-stage healthcare market map highlighting the fastest-growing Pre-Seed to Series A stage healthtech startups, with live search and filtering at https://www.forumvc.com/marketmap.
