I am seasoned in writing software and product design. I know healthcare is a very promising field but I don't have good knowledge of the industry. Some similar consumer wearables in healthcare would be the fit bit, a glucose meter or a heart rate monitor.
Focus on apps/devices that make it easier to manage chronic diseases--asthma, COPD, diabetes, or other issues like infertility.
Managing these ailments can be cumbersome, and most patients fail at managing them. This is where mobile devices can offer the most benefit.
I am on the advisory board for a Company developing training for Older Adults with Dementia. The US age group called 'Baby Boomers' is now going to represent the largest aged population we have seen in the country for a long time. If you are going to get into healthcare peripherals, look into Geriatrics, and find an unexplored niche therein.
Think for a moment - what have I designed before? How has it been of help to people? In what way do I wish to serve others?
If you'd like to have a conversation, my approach would be to begin from your 'mission'. Not from the product. Message me and we can have a call to go further, and beyond!
Warmly,
Arjun
The first thing you need to ask yourself is why you do not have good knowledge of the industry and how do you get this? Once you have learned about the industry you will find that there are hundreds of glucose meters and heart rate monitor companies. What would make your device different? The next question to ask is what is a niche area that you can dominate? What sensors are currently available for wearables and what is a new way to apply them to generate value? Most importantly you need to ask yourself what problem you want to solve and why. Use the Feynman method: Find the problem first, think really hard, and then come up with a solution.
It's a hot space right now. The challenge is going to be in differentiation. What can you offer that isn't already being tapped by a major player? With the Apple Watch there's going to start to be a lot of consolidation with downward pricing pressures. Have you considered using your talents to instead look at middleware opportunities to connect and engage with people already on these platforms using APIs and other connection points? Perhaps there are app opportunities to run in existing ecosystems? It's always going to be easier to use someone's existing marketing and audience to drive your niche play. Just some ideas. Happy to discuss with you if you'd like.
LOWER THE COST OF TREATMENT THROUGH 2-WAY WEARABLES
Create an automated wearable that lowers the cost of treatment for healthcare providers and insurance companies alike. This applies to every niche covered by both kinds of businesses.
Find out if there are enough patients who fail to comply with the treatments prescribed, who could be better served by tailored treatments and other insurance options.
Check out this video plus article on treatment compliance, from the perspective of a chronic patient, (http://wp.me/p3tZZw-7Mm )
It is quite possible that someone will beat you to it, because it seems that you (or them) could reuse some existing technology, like the wearables that you listed under your question.
Schedule a call after watching the video so that we can start working on your marketing plan right away.
I spent a few years at Intel's Digital Health Group (we had a phalanx of PhD's and MD's on staff trying to answer your question). As others have mentioned, this is a very crowded and complicated space. Even more so if the device needs FDA approval. Since you lack deep domain knowledge, step 1 is finding a partner (ideally a clinician with many years experience) who has it, and also has a nose for business opportunity. Let them guide you toward a problem that needs solving.
As a physician and insurance company executive, I often see various medical devices come across my desk which are solutions looking for a problem. For example, I evaluated a device which can measure the level of carbon dioxide in the blood noninvasively using a novel technology based on light waves. Sounds interesting, but what problem does this solve, who wants this device and what is the market? Millions went into creating the device, but now the creators are scrambling to try to come up with a clinical study to demonstrate its value in managing a condition and improving outcomes.
My advice to avoid this type of situation is to employ the process of design thinking which starts with empathy and trying to truly understand the problems your clients are wrestling with. In this case, it could be a specific type a physician specialty you target. Have conversations with physicians about what challenges they face on a routine basis or what keeps them up at night. Define a very specific problem which affects a large number of physicians and in turn their patients. Then think of a solution to the problem which is based on a portable healthcare device. I would start with physician you already know and learn about their challenges.
It's fantastic that you're looking to venture into the exciting world of wearable healthcare devices! Considering your expertise in software and product design, you're well-positioned to make a significant impact in this promising field.
Given your background, exploring areas where consumer wearables like Fitbit, glucose meters, or heart rate monitors have made a difference could be a great starting point. You might want to consider health tracking devices for chronic conditions, remote patient monitoring solutions, or even innovative fitness trackers that integrate advanced health metrics.
To delve deeper into the integration of medical devices with Electronic Health Records (EHR) systems, I recommend reading this insightful article: https://www.cleveroad.com/blog/medical-device-integration-with-ehr/. It provides valuable insights into how seamless integration with EHR can enhance the overall efficiency and impact of healthcare devices.
Feel free to explore this resource as you embark on your journey into the healthcare technology realm. Best of luck with your new venture, and I'm excited to see the innovations you'll bring to the field!
