￡21m AI funding boost to cut NHS wait lists, HealthTech 50, ringfenced HealthTech funding and more.
Hi,?Kevin McDonnell?here. Thank you for reading my latest newsletter. Every week I share my round-up of the most interesting stories from the world of Digital Health so you can find the ideas, people, innovations and technologies that are shaping the future of healthcare. I hope you enjoy them! Happy reading! Don't forget to?follow me?or?our page?for more insights every day.
Intended Purpose for SaMD: What HealthTech Entrepreneurs are Overlooking - Many entrepreneurs take a cursory approach to regulatory approvals, leading to ambiguous, all-purpose, and poorly justified intended purposes that need to be revised to hold up to regulatory scrutiny. When function creep occurs, additional features skew the evidence and blur the intended purpose, making the situation worse.
AI's Cold Comfort: The Unspoken Empathy Crisis in HealthTech - Healthcare is undergoing a silent revolution, but it's not what you might expect. Contrary to popular belief, this revolution is not driven by ground-breaking scientific advancements, cutting-edge technologies, or the spectacular development of artificial intelligence (AI). Instead, it is distinguished by the striking absence of empathy, a fundamentally human quality.
NHS to switch over to new web-based system for accessing patient summary records - The National Health Service (NHS) in the UK is planning a significant transformation by transitioning to a new web-based system for accessing patient summary records. This move signifies an evolution in the digital health landscape as healthcare providers seek to harness the power of technology to improve patient experiences and outcomes. The new system promises faster and more reliable access to patients' medical history, enhancing diagnosis, treatment, and patient safety. It also underlines the growing need for data protection, with advanced security features expected to be an integral part of this system.
Artificial intelligence ￡21m funding boost to help cut NHS wait lists - In a landmark move, the NHS has secured a ￡21 million funding injection aimed at employing artificial intelligence (AI) to reduce wait lists. With the potential to revolutionise patient care, AI is expected to streamline the triage process, enhance patient flow, and optimise resource allocation. This development signifies a significant shift towards embracing innovative digital solutions for systemic challenges in healthcare. However, this change will require careful navigation through associated ethical and regulatory hurdles surrounding AI use in healthcare.
Revealing UK's HealthTech 50 and MedTech 50 for 2023 - BusinessCloud's announcement of the UK's top 50 HealthTech and MedTech companies for 2023 reflects the country's vibrant and evolving digital health landscape. The list encompasses a diverse array of companies leveraging cutting-edge technologies to drive improvements in patient care, diagnostics, and therapeutic interventions. It also highlights the role of innovation and entrepreneurship in addressing some of healthcare's most pressing challenges.
Total Funding In Healthtech Plunged 55% In 2022 To $1.4 Bn - In a startling revelation, the total funding in healthtech globally plunged by 55% in 2022 to $1.4 billion. This downturn indicates a potential cooling-off period after the healthtech investment boom catalysed by the COVID-19 pandemic. Despite the downturn, the sector continues to hold potential for significant returns and innovation. As the sector matures, it may become increasingly important for startups to demonstrate clear value propositions, business sustainability, and a focus on high-impact areas of healthcare.
Thorne HealthTech announces blood sampling device - Thorne HealthTech has unveiled an innovative blood sampling device, underlining the growth and potential of home-based healthcare solutions. This device allows patients to conduct self-administered blood tests, promising to transform the landscape of diagnostics by increasing accessibility, reducing reliance on healthcare facilities, and empowering patients in managing their health. It also reflects the shift towards personalised medicine and preventative care.
Government will ringfence money for health tech, says Health Secretary - The UK Health Secretary has confirmed plans to ringfence government funding specifically for health tech. This announcement recognises the critical role technology plays in the modernisation of healthcare and the potential for innovation to drive improved outcomes and efficiencies. However, it also implies the need for strategic oversight and effective implementation to ensure that these funds are used to generate meaningful impact on the health system.
Vast majority of Americans want to 'age in place', assistive technologies are helping them pull it off - The desire among Americans to 'age in place' is leading to a surge in demand for assistive technologies. These innovations, spanning from wearable devices to home automation tools, are enabling seniors to maintain independence, enhance their quality of life, and manage their health conditions more effectively. This trend also underscores the potential for technology to respond to demographic shifts and emerging societal needs.
Software as a Medical Device: Why Companion Apps Are a Growing MedTech Trend - The rise of Software as a Medical Device (SaMD), particularly in the form of companion apps, is a burgeoning trend in MedTech. These apps, designed to complement and enhance the use of medical devices, highlight the merging of digital and physical spheres in healthcare. They are increasingly being seen as an essential component of comprehensive care, from improving device functionality to promoting patient adherence to treatment plans.
7 MedTech Trends You Need To Know About - In a rapidly evolving field, staying abreast of the latest MedTech trends is crucial. These trends include the rise of remote patient monitoring, increased focus on mental health technologies, and the integration of AI and machine learning in diagnostics and treatment planning. Each trend underlines the industry's drive to leverage technology for improved healthcare delivery, signifying opportunities for investment, research, and development in the sector.
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