Modern technologies penetrate every sphere of our lives, and healthcare is not an exception. Health Tech, also referred to as digital health, utilizes technologies like mobile applications and databases to improve healthcare quality and increase the development and sale of medical products. It can also be described as any IT tool or software utilized in the healthcare industry. Health Tech includes such sub-sectors as:
- Services working with consumers
Healthcare Tech aims to improve two key spots: efficiency and quality. Modern technological advances provide broader access to healthcare, improve many hospital operations, store and protect data, as well as decline patient waiting times. There are even websites that help you to get in touch with web designers for healthcare.
In this article, we discuss the best Health Tech companies to keep an eye on this year and explain their advantages over competitors. We don’t dig deeper into modern technologies in healthcare; however, if you want to learn more about it, read these articles: AI in Healthcare Highlights & Milestones and Conversational AI in Healthcare.
Johnson & Johnson
Johnson & Johnson is one of the most famous Health Tech companies. Established in 1886, Johnson & Johnson managed to significantly improve the Healthcare Tech industry during the more than 130 years of its existence. The company has more than 130 000 employees and constantly grows to be able to make appropriate healthcare available for everyone.
The company has three main directions for the development of its products. They include:
- Consumer Health
- Pharmaceutical Products
The MedTech category of the company’s focus involves diverse healthcare expertise, modern technology, and scientific innovation to address many illnesses and make people’s lives easier. Johnson & Johnson is a global leader in joint reconstruction, orthopedic trauma treatment, and spinal care solutions. In addition, the company creates various devices, such as orthopedic sports medicine devices, power tools, and craniomaxillofacial devices (specific products for surgeons).
Also, Johnson & Johnson uses AI and Machine Learning for drug discovery and development. In this case, AI and ML drive high-value biological insights and targets, reduced cycle time, accelerated clinical trial operations, enhanced diversity, and many other operations.
An interesting fact is that Johnson & Johnson is one of the first companies who developed a vaccine against COVID-19. The company even published a series, The Road to a Vaccine, on its website to show the creation of this vaccine, the latest medical advances, and collaborations.
Founded in 1969 in the United States, Danaher Corporation managed to grow to more than 80 000 employees. The corporation consists of over 20 operating companies working in the fields of diagnostics, environmental and applied solutions, and life sciences.
Danaher Corporation publishes annual reports and sustainability updates that share information on the company’s functioning, mission, and vision. For instance, the Sustainability Updates explain the developments in Danaher’s sustainability program, including environmental issues projects (e.g., water risk assessment and the Environmental, Health, and Safety (EHS) Audit Program) and foundational elements (medical device product quality, marketing, advertising, and sales).
Some of the most known corporation’s technological projects are Integrated DNA Technologies (IDT) and Videojet. IDT produces products implemented in cancer and infectious diseases diagnostic tests. Moreover, IDT helps develop crop varieties that will be able to withstand droughts, pest outbreaks, and diseases. In addition, some of the projects implementing IDT products research the role of bacteria in limiting greenhouse gases and consequently sustaining biodiversity in groundwater.
Boston Scientific Corporation is a firm working in biotechnology engineering and medical device production. The company’s products include defibrillators, single-use scopes, spinal cord stimulator systems, coronary stents, and many other medical inventions.
Boston Scientific is well-known for its Taxus Stent, which is a drug-eluting stent used for opening clogged arteries. Some of the most popular products also include CRT-Ds and CRT-Ps, short for Cardiac Resynchronization Therapy Defibrillators and Cardiac Resynchronization Therapy Pacemakers correspondingly.
A great part of Boston Scientific’s website is its page for investors. Here, the company publishes all of its financial reports, updates its stock prices, and arranges various events. Moreover, potential or current investors can monitor the fluctuation in stock prices on the same page and track the most recent tendencies.
To learn more about AI in Finance, watch this podcast episode: Artificial Intelligence in Finance & Accounting with Shivam Arora.
Athelas is a fast-growing Health Tech company that aims to create healthcare products that will change people’s lives. The company suggests such products as:
- Athelas One
- Blood Pressure Cuff
- Weight Scale
- Pill Track
- Total Care
- Doctor App
- Remote Monitoring
- Revenue Cycle Management
- EHR Integration
Although most of the products’ purposes are clear from their names, I’ll cover the primary aspects of their utilization. Athelas One is a device aimed at immunosuppressed patients or those who were prescribed clozapine to enhance the blood monitoring process. Thanks to this device, the blood can be tested through a simple finger prick and does not require venous draws. Athelas Blood Pressure Monitor is a device for tracking blood pressure. Its most important advantage is the ability to remotely transmit the patient’s blood pressure reading to their physician. The same functions possess the company’s Glucometer and Weight Scale.
Athelas PillTrack is designed to help patients take their medications on time. The device remembers up to eight medication times and reminds people to take their pills through text reminders and light indicators. The company’s TotalCare Program includes all the aforementioned functions and suggests customized nutrition plans and diets. Being one of the greatest products, Athelas Doctor App is used to integrate all company’s services and allow doctors to keep an eye on their patient’s results.
Athelas Remote Patient Monitoring (RPM) provider is designed to gather the patients’ health data at home and improve their treatment outcomes. One more product, Revenue Cycle Management, helps health providers with their billings and reimbursements. And last but not the least, the EHR Integration function allows physicians to integrate their patients’ remote vitals with the existing clinical data and, based on more accurate information, improve diagnoses and treatments.
Osmind is a relatively young company aiming to advance the science of mental health. The company created a platform that makes mental health treatments easier and brings patient experience to a new level. The company can help its customers with scheduling meetings, charting, billing, reimbursements, and patient engagement improvement. The described platform improves ketamine, psychedelic-assisted therapy, and psychiatry EHR.
In addition to the presented platform, Osmind conducts research in the field of evidence-based mental health. The company’s research team includes leading specialists in mental health and neuroscience. Moreover, Osmind publishes various informative articles based on their research results and overall problems concerning mental health in its Blog section.
Quit Genius represents itself as the first digital clinic in the world which provides medication-assisted addiction treatment. The company focuses on three main addiction areas, specifically tobacco, alcohol, and opioids. Based on the description Quit Genius provides, I can see that the company is employer-oriented. It means that Quit Genius suggests to employers its addiction treatment program for their employees.
On each of the addiction pages (Alcohol, Tobacco, and Opioids), the company shows some statistical records concerning the discussed addiction type, as well as the approximate amount of money an affected individual spends on their drug. In addition, Quit Genius explains the main aspects of their Medication-Assisted Treatment.
For instance, in the case of alcohol addiction, the company suggests unlimited 1:1 psychological therapy, Cognitive Behavioral Therapy (CBT) modules, physician-led clinical care, and remote monitoring, as well as Quit Qenius Rx. Quit Qenius Rx means that the prescribed naltrexone will be discretely mailed directly to the patient’s home.
Helium Health is a relatively young company with its headquarters in Laos, Nigeria. Helium Health positions itself as the number one Health Tech provider in Africa. The company’s numbers are fascinating- the company is trusted by over 300 healthcare providers, is used by more than 5 000 health professionals, and manages nearly 165 000 patients per month.
Helium Health suggests various options for providers (e.g., managing electronic medical records, telemedicine, administration, financial management, etc.), payers (e.g., introducing data, transparency, and cost efficiency to health financing), patients (e.g., accessing their healthcare providers, personal health records, etc.), and partners (e.g., providing information, insights, and tools to gather evidence and make decisions).
Moreover, the company suggests such products as:
- Electronic Medical Records
- Virtual Hospital Visits
- Healthcare Financing
- Revenue Cycle Management
- Personal Health Records
- Public Health Management
Bodyport is a Health Tech company based in San Francisco that focuses on complex chronic conditions and their treatment. A significant part of the company’s attention is paid to heart health. Bodyport introduces a noninvasive biomarker platform designed to simplify heart disease management. Moreover, the platform integrates personalized patient experience and a robust clinical dashboard to provide patients and their caregivers with more insightful information about the patient’s health conditions. These comprehensive insights can help physicians prevent hospitalizations, worsening health conditions, and possible complications and improve patients’ life quality.
Bodyport introduced a cardiac scale that measures a variety of hemodynamic biomarkers that help assess heart functioning and the current status of the disease. The device functions thanks to advanced sensors that detect signals from people’s feet and immediately send them to the patient’s care teams.
CareMessage is designed to help safety-net organizations in helping underserved populations. The platform created by the company centralizes and automates communication and, in this way, provides personalized support.
CareMessage’s platform has three global aims:
- Improve patient access and communication
- Increase efficiency and the number of completed appointments
- Enhance clinical quality and reimbursements
The company reaches these goals with the help of various tools, such as workflow automation or evidence-based programs. CareMessage provides some interesting statistical reports on its website. For example, according to the statistics, the wealthiest Americans live 10-15 longer than the poorest American citizens.
With more than 400 customers, CareMessage also has many integration partners, including Athenahealth, Greenway Health, and Epic Systems.
Pardes Biosciences is a Health Tech startup founded in 2020 and located in Carlsbad, CA. 2020 is well-known for the outbreak of the coronavirus pandemic. Hence, the startup was established with the mission of stopping the COVID-19 crisis and preventing the next pandemic.
Padres Biosciences created a reversible covalent chemistry platform that helps discover new medicines for diverse viral diseases from COVID-19 to a simple cold. Moreover, one of the company’s greatest potential products is an oral coronaviral protease inhibitor, PBI-0451, which is currently tested in Phase 1 clinical trials. After its development, the drug will potentially be able to prevent the virus responsible for COVID-19 (in the scientific world, known as SARS-CoV-2).