IoT in Healthcare
May 18, veteran and newcomer entrepreneurs shared their perspectives garnered through launching IoT businesses with the local healthcare community at the annual Healthcare.mn + IoT Fuse event, on the heels of the IoT Fuse conference.
The event, hosted at Spyder Trap, began with an introduction by IoT Fuse Meetup leader Patrick Delaney. Jared Sieling, the founder of Chanl Health, and Tyler Skluzacek, the mind and drive behind NightWare Inc., gave background on their businesses and discussed the challenges and lessons learned launching an IoT data platform and PTSD-therapy app/partner wearable, respectively.
An Inflection Point for IoT
Following the pitches, Al Baker, of activity assistance tech startup Reemo; Paul Hines, Dose Health founder, and Jared Seiling took the stage to collectively discuss the adoption challenges and trends inherent in building and scaling IoT technology.
Al Baker sees the industry at an inflection point for IoT devices, spurred by the understanding that third-party solutions have evolved to a place of sophistication where entrepreneurs aren’t required to build the hardware — only integrate with it.
For Al, evidence of value claims and benefits continue to serve as a challenge for entrepreneurs breaking into and raising awareness for the potential energy waiting to be released by the greater influx and adoption of IoT devices.
The Impact of Value-Based Care
Paul Hines noted, the shift from fee-for-service toward value-based care, marks a departure that renders IoT tech a more appealing option for providers, especially considering the cost efficiencies that can be gained. As a traditionally risk-averse industry, the challenge for IoT entrepreneurs operating in healthcare is understanding and designing within the existing workflows of large organizations.
Complete solutions around data management and security, which have emerged in the last 1-2 years, as highlighted by Jared, have increased the ease of building (for entrepreneurs) and adoption (for buyers).