Healthcare is one of the most profitable industries in the United States, with over $1 trillion spent on healthcare by American households in 2018 alone. This, coupled with tech innovations, has led the way for companies to think about new ways of providing and improving healthcare standards and procedures.
Many of these companies are focused on specialist issues, either for personal reasons or to fill a growing, neglected gap in the market. Let’s take a look at some of these companies and explore how they’re putting their skills towards solving specialist healthcare concerns.
1. Vet Comp And Pen
The issue of veteran compensation and healthcare is a hot button one in the United States, with many people being rightly upset with the lack of support many of those who served in armed forces receive when they get back home.
Physical disabilities and mental health issues suffered as a result of service have left many veterans struggling with homelessness, unable to get the disability compensation they require to kick start their lives out of the forces due to a lack of resources.
Businesses such as Vet Comp Pen were established with the aim of giving veterans the best opportunity to receive the benefits they deserve. A family business founded out of the principle of helping homeless veterans, it has grown into an evidence-based medical consulting firm with the specific goal of helping veterans connect their symptoms and diagnoses to their military service. Vet Comp Pen has a proven track record of helping veterans improve their VA ratings and win the disability bonuses they need and deserve.
With insurance so integral to acquiring healthcare in the United States, enterprises such as this which are just as much support systems as they are businesses. A veteran-run business with experienced medical professionals on board, this is a venture that not only earns monetary wins but identifies outstanding medical conditions for you.
2. Osso VR
Virtual reality is one of the great tech innovations of our time. While most people see it as a gimmick for video games it has actually become an innovative part of healthcare, and one with growing importance.
As surgical equipment becomes more complex to meet the demands of intricate procedures, our healthcare professionals need to dedicate more and more hours to training themselves when they could be offering their services to patients. These are not quick-fix skills that can be picked up without real-world training.
Osso VR has produced a solution to this problem. Founded by a former video game developer who changed career path after personal experiences with health issues in his family, Osso VR uses the technology that has been developed within the entertainment industry to provide the platform, content and tools to bridge the surgical training gap. VR technology allows surgeons to recreate exact complex scenarios and practice treatments.
Osso VR is also dedicated to offering a way to “increase the adoption of higher-value medical technologies and democratize access to surgical education around the globe.” Technologies such as VR may just be the first step in a new way of training future medical professionals.
3. Verge Genomics
Every year, billions of dollars are spent testing drugs that ultimately don’t work and don’t help the public at large. Verge Genomics is an exciting new startup laser-focused on not just streamlining the medical trial process, but making it much cheaper for the country as a whole.
While everyone wants the drugs they’re using to be safe and successful for the average person, the current barriers in place are hampering companies’ abilities to create solutions in the minds of some in the industry. Verge Genomics use artificial intelligence to employ a unique approach towards determining which drugs have a higher likelihood of success and which are ultimately going to be money wasters.
It’s not just testing that is costing drug firms either, it’s the estimated $1.3 billion dollars spent on securing R&D and FDA approval. This innovative way of looking at the process will help to streamline the pipeline from testing to approval by de-clogging it of drugs bound to fail. A creative startup that will surely pave the way for many future breakthroughs.
Product and tech innovations in healthcare are just as important to the future of the sector as training and financial security. New developments breed new solutions to complicated conditions. NeoLight is an innovative startup looking at how products can be used to make procedures simpler and leave professionals with more time to learn.
Focusing on “empathetically-designed baby-centered devices to treat infants with life-threatening conditions”, NeoLight is perhaps most well-known for their Skylife Phototherapy System. This portable, blue light-emitting device is already being used to treat neonatal jaundice in newborns. Easily adjustable and providing uniform light coverage with almost no heat emitted this is an exceptional breakthrough for a common, but potentially harmful treatment.
Companies light NeoLight will continue to stand out for the physical nature of their work, but it should not be understated how important the creation of these products is to streamlining procedures and easing the pressure off of professionals.
To survive and thrive throughout the rest of the century, healthcare needs to fully embrace the use of new technologies and big data. Some examples in this list have covered how individual companies are tackling individual problems, but Embleema looks to roll out a system that will change the long-term vision and picture surrounding American healthcare.
Making use of blockchain technology, Embleema has launched a HIPAA compliant network that aims to help patients access and share their medical records with healthcare researchers and physicians. This helps patients consolidate their data for the use of drug research and even earn a profit off of it (which can be paid in cryptocurrency).
Medical data is essential for taking the next step in medical advancements and creating a world where everyone has a clearer picture of their personal health and the care on offer to them. A breakthrough, forward-thinking technology.
These are just five companies looking at American healthcare issues in new and fascinating ways. From startups with tech aspirations to home businesses focused on humanitarian issues as structural ones, the future might just be bright for the sector after all.
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