Rock Health: Wearables - fastest growing digital health market
A very attention-grabbing data is reveled in “Digital Health Consumer Adoption: 2015”, a report by Rock Health, digital health venture capital company. While this documents covers the issues regarding various aspects of digital health, there is some crucial information that shows emerging trends in wearables. Here is a short summary:
There are a number of digital health companies (established and otherwise) working to redefine the way consumers interact with the healthcare system. These companies are attempting (or have attempted) to establish direct to consumer business models and fall into six overarching categories: online health information (e.g., WebMD), online health reviews (e.g., ZocDoc), mobile health tracking (e.g., MyFitnessPal), wearables (e.g., Fitbit), consumer-driven genetic services (e.g., 23andMe), and telemedicine (e.g., Doctor on Demand).
- Often-heard digital health memes, including that the only users in these categories are young, educated, rich, and healthy turn out to be false. Instead, our study found that an individual’s attitude towards healthcare (responsibility, self-management, and willingness to pay out-of-pocket) was a major indicator of adoption.
- … the unhealthy are adopting faster than the healthy.
- … digital health adoption closely mirrors general technology adoption
The demographics of wearable owners have begun to shift: recent purchasers are more likely to be unhealthy, including high rates of hospitalization, countering the popular narrative of only healthy individuals purchasing wearables.
READ THE FULL STORY & PURCHASE THE REPORT HERE
Here is the story from MIT Technology Review
Tech Companies Are Not Trusted with Health Data
A survey finds that consumers are not eager to give health information to Google, Apple, or Microsoft, but Facebook fared worst of all.
By Antonio Regalado on November 16, 2015
The American public does not trust technology companies with personal health data, according to a survey from Rock Health, a venture capital firm focused on digital health.
Venture investors have poured record amounts into health apps, electronic medical records, and wearable devices, including $4.3 billion last year. But Silicon Valley’s touch with consumers hasn’t yet translated into many big successes.
Rock Health—which has invested in 13 startups this year, including the telemedicine company Doctor on Demand and Chrono Therapeutics, which makes a programmable nicotine replacement patch—decided to launch a large consumer survey to find out why. “A lot of digital health companies are struggling to sell to consumers, and we so we wanted to understand better what the state of adoption looked like,” says Teresa Wang, strategy manager with the investment company.
The survey, of 4,017 people, found that only 8 percent said they would share health data like medical records and lab results with “a technology company.” There was a huge gap between that figure and the number who said they would hand their health history over to a research institution (36 percent) or to their own doctor (86 percent). When asked whom they would share their DNA data with, the responses were similar.
Facebook, Microsoft, and Samsung—all fared poorly, with approximately 5 percent of people saying they’d share with these companies. The outlier was Facebook, which people were about half as likely to give their data to. Only 2 percent said they’d share health or DNA data with the social network.
READ THE FULL STORY HERE
Image by Rock Health