Even as funding has accelerated for digital health startups, a 2015 report from Accenture forecasted that half of digital startups are likely to fail within two years of launch.
Unfortunately, this is a reality that digital health startups – originally willing, and eager to revolutionize the healthcare industry with your groundbreaking products and/or services in 2015 – are now facing in 2017.
While there are many reasons for business failure in the digital health arena, there’s one cause that is rising to the surface, which is data block. This is the pure obstruction of interoperability efforts, which makes the process of getting data out of physician EHRs, or pushing information back into those systems, extremely cumbersome.
For young businesses, this barrier of EHR interoperability into the legacy systems of clients and prospects costs time and money well beyond what startups can endure. Mobile and digital health startups must confront interoperability and data access issues head-on to accelerate growth – and ensure survival.
This was the key theme of a recent HIT Consultant guest article by Buff Colchagoff, CEO of RosettaHealth, which also offers a “cure” for data block.
For example, cloud-based solutions exist that provide a tremendous opportunity for digital health startups to acquire comprehensive data exchange capabilities quickly, allowing for focus on what’s important: innovation.
SaaS providers offer low-risk, low-labor, and low-cost alternatives to building an internal, expensive messaging infrastructure. These exchange platforms deliver a near-instant onset of exchange capabilities, provide scalability for the ever-growing demand of data, and eliminate the need to obtain/retain experience in all of the different disciplines required for effective HIT interchange.
Now, safe, secure, and simple data transport solutions exist to help fast-track growth – and ultimately increase startup survival odds.
To learn about how your digital health startup can find a cure for data block, please read the full HIT Consultant articlehere.In addition, if you would like more information about the RosettaHealth platform, which breaks down HIT interoperability barriers, please contact Buff here.