Top considerations for entering the healthcare market:

In today’s rapidly evolving digital landscape, where technologies such as data lakes, blockchain, artificial intelligence, machine learning, and IoT devices continue to emerge, the opportunities for health innovators to develop and launch new products with the potential to improve healthcare for consumers and providers alike seem limitless. However, unlike the consumer sector where such products have already gained a foothold, the healthcare market presents a unique set of requirements and challenges that Health IT innovators must face before their promising applications can be brought to market, adopted, and used in clinical settings.

The first step is ensuring your innovation is well designed to address your target market’s top priorities – whether they be health consumers, independent providers or facilities, or large healthcare systems. As well, since your innovation will be managing personal health information you must be familiar with and adhere to all applicable privacy requirements and regulations – whether government or customer driven. Finally, if your innovation will be considered a medical device (and even if it’s not), you must ensure appropriate processes and controls are in place to guarantee that your product will be safe, effective, and secure once it is released into the hands of health consumers and care providers.