Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
The Coronavirus pandemic impacts many parts of the economy including healthcare.
For healthcare startups, we’ll see changes in the following ways:
Increased use of telemedicine. The pandemic highlights the challenge of centralizing all healthcare functions in one place. There are many apps on the market today and after several years of mobile phone usage, the population is familiar with conversing with others through their mobile device.
AI will find increased application. It will be used to sort through the massive amounts of data for controlling the pandemic, as well as running clinical trials.
We’ll see greater access to medical records for research. It will be interesting to see how privacy issues are regarded during pandemic outbreaks.
Personal-monitoring devices will continue to take over basic monitoring functions by providing alerts when things go outside the norm.
These tools are well in place and growing in use. The COVID-19 pandemic will accelerate their adoption and use.
As a startup, you may want to take note of these trends and plan your business strategy accordingly.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.