Articles

HLTH. Day 1. Bose. DTx. And more.

28 October 2019

As HLTH kicked off, there were two topics hotter than the rest. First, the entrants of non-health companies into the health business. Bose and MasterCard both announced major health initiatives. MasterCard is bringing their expertise in payment security to bear on healthcare’s security challenges. They’re also offering a service to help payers identify potentially billions in fraud, waste and abuse.

Bose is applying their consumer electronics expertise to the areas of sleep and hearing augmentation. Phil Hess, CEO and president of Bose Corporation, said, “We bring a trusted brand, supply chain knowledge, and consumer electronics expertise. And at the intersection between Bose and the healthcare industry is ‘Audio as Treatment.’ For example, if you have hearing problems, it’s not just hearing that’s the problem. The problem is that you’re losing connection with your community. And we can help.”

These collaborations between health companies and experts in other industries has transformative power, and will be fun to watch over the next five years.

 

“At the intersection between Bose and the healthcare industry is ‘Audio as Treatment.’ For example, if you have hearing problems, it’s not just hearing that’s the problem. The problem is that you’re losing connection with your community. And we can help.”
Phil Hess
CEO & President, Bose Corporation

Topic number two is near and dear to our heart as digital therapeutics took center stage through multiple presentations. While the disruption that digital transformation continues to bring to healthcare can be a pain point for some companies, it’s also bringing tremendous opportunities as the powers of content, technology, and health IT combined.

For example, “Two-thirds of all people with mental illness never seek help for it,” says Acacia Parks, Chief Scientist at Happify Health. “Digital therapeutics are something that people can use in their house. They’re available quickly. They can use it instantly or almost instantly. There’s an important role for something else [outside of traditional therapy] in a world where so many people with mental illness don’t receive treatment. And there’s a really compelling case that digital therapeutics might be an answer to that problem.”

We agree, there is certainly a compelling case that digital therapeutics will emerge as a force for industry growth. That’s because it works. It’s also interesting that you see more and more presenters from the gaming industry speaking at events like these, as that sector has been developing data on behavior modification over the last decade. That concept of behavior modification can be applied in many ways and in many different populations to drive better outcomes. And if there’s one thing that gets the OptimizeRx corporate bees buzzing, it’s helping patients. Combine that with the relative affordability of digital approaches, and you’ve got a recipe for tremendous success.

See what our president, Miriam Paramore, had to say about digital therapeutics here. And if you’re at HLTH, let’s meet up!