disruption and innovation in the top-three digital health markets

For More Information — 972.490.1113 | [email protected] | www.parksassociates.com

Harry Wang, Senior Director of Research

July 28, 2016

Digital Health Webcast:Disruption and Innovation in the Top-three Digital Health Markets

For More Information — 972.490.1113 | [email protected] | www.parksassociates.com 2

This was a live Parks Associates presentation on July 28.

To download the entire presentation, including the audio recording, visit:

http://www.parksassociates.com/health-2016-ss

Download Full Presentation



About Parks Associates

Expert Analysis and Forecasts

Business Models

Competition

New

Prod

ucts

Value Chain

Consumers

New

Serv

ices

The company's expertise includes• Internet of Things (IoT) • Digital Media & Platforms• Entertainment Services • Streaming Media Devices • Augmented Reality/Virtual Reality• Home Networks• OTT & Pay TV services• Cloud Services• Privacy and Security • Big Data• Digital Health & Wellness• Mobile Applications and Services• Tech Support Services• Consumer Apps• Consumer Electronics • Home Control Systems and Security• Smart Home and Energy Management


›Connected Health Summit: Engaging Consumers spotlights health technologies as part of the Internet of Things (IoT) phenomenon and the transformational impact of these connected solutions on the U.S. healthcare system.

›This focus provides strategic insights into consumer engagement, care accountability, service innovations, and platform design to determine successful approaches in the deployment of connected healthcare products and services.

›ConnectedHealthSummit.com

›Sample Confirmed Speakers From…


Parks Associates Digital Health Research Service

Customized Research: Full Assortment of Market

Research Services

Quantitative SurveysFocus GroupsForecast ModelingMarket AssessmentsEntry Strategy

EvaluationsIndustry InterviewsStrategy WorkshopsWhite PapersWebinars

Connected Health Tracker Service

Consumerism of Healthcare:• Effective Engagement through Segmentation

& Personalization (Q1)• Trends, Technology Impact, and Case Studies

(Q3)Digital Disruptions in Healthcare Service

Delivery:• Innovator Leaderboard and Winning

Strategies (Q2)• Innovators Redrawing Healthcare Landscape

(Q4)Consumer Analytics (Quarterly Deliverables)

• “360 View: Empowering Healthcare Consumers”

• Three “360 View Updates”


Background: Venture Funding

IPOed

Acquired


Innovations and Disruptions

Doing new thingsVertical progress

Horizontal Progress

Copying things that work

510(K) cleared devices

Healthcare


The Disruption Formula

Find a broken industry

fraught with …

Leverage technology to

create a solution with better…

Scale Up

Squeeze Incumbents and become

dominant

Look for the next growth

opportunities

Success Stories In other industries

Strivers in healthcare Industry


What We Learned

Innovations may not be disruptions

Innovations may as well fail


Evaluate Innovators for Potential Sustainable Disruption

Innovator Leaderboard—Sustainable Disruption Matrix

Disruptiveness of Innovation

Gro

wth

Sus

tain

abili

ty

HighLow

Hig

hLo

w

Disruptive Front-Runners

Visionary Mavericks

Growth Masters

Differentiation Executors

Innovations don’t equal to disruptions

Technology breakthroughs can lead to disruptions only if the underlying business model is financially sustainable

Sustainability of revenue models should be considered along with innovation merits

Key Takeaways:


Three Leading Innovation Frontiers

Digital Health Solutions Definition Buyer Profiles

Consumer Fitness & Wellness

Digital products, software, and services that help consumers achieve fitness goals and improve overall wellbeing.

Health Optimizers & Savvy Engagers

Virtual Care SolutionsTechnology, solutions, and services that help care providers deliver care without requiring patients to meet in-person

Hospitals, health systems, and some payers

Patient Communications and Education Solutions

Technology and solutions helping care providers improve in-bound/out-bound communications with patients & their families and engage them for education purpose

Hospitals, health systems, particularly those with a high percentage of business tied to shared risk contracts or fully capitated contract


Demand Drivers:

Quantified-self benefits

Lowered product price

Growing integration of fitness/wellness tracking devices into wellness management solutions


Industry Trends:

Growing integration of other wellness tracking functions: e.g., sleep, stress, posture

Growing use of video to aid fitness training:

Wellness coaching as a premium service:


Consumer Fitness & Wellness: Market Landscape

Device App or Service only

Multi-Function

Single Function

Integrate with other sensors

Expand into other smart device categories

Adding software & digital coaching service

Add device support and social features

To Differentiate…

Device + Service

Integrated wellness experience


Fitness & Wellness Solution Adopters & Targets

49% 54%Current Heavy Users Next Good Targets


This was a live Parks Associates presentation on July 28.

To download the entire presentation, including the audio recording, visit:


Download Full Presentation
