Why Healthcare Innovation Must Serve Both Sides of Care?

Here's a HealthTech secret that you need to know: 93% of companies are focusing on the wrong target audience entirely. I just watched two promising startups make this exact mistake at VIVE conference, and it's costing them millions in lost growth opportunities.

I had a wake-up call at VIVE conference this week that I need to share with you. While interviewing dozens of healthcare technology leaders, I noticed a critical blind spot that's causing many companies to miss out on massive growth opportunities.

Here's the thing: Most HealthTech companies are so focused on patient-centric solutions that they're overlooking a $347B opportunity right in front of them. Let me explain through two eye-opening conversations I just had.

The First Reality Check I spoke with a HealthTech founder who had developed an impressive mental health app generating 8-figure revenue. They were excited about breaking into the pharmaceutical market, leveraging their large user database for clinical trials.

But there was a problem. They hadn't considered the complex ecosystem of care surrounding each patient. Their data, while extensive, wasn't capturing the critical role of caregivers in patient outcomes. Despite having significant funding and a solid product, they were focusing on the wrong growth channel entirely.

The Second Wake-Up Call Another executive had created an early dementia detection tool that already secured insurance reimbursement. Sounds great, right? Yet they were struggling with adoption because they'd overlooked one crucial detail: integration with caregiver workflows.

Even with insurance coverage and no out-of-pocket costs for patients, the solution wasn't gaining traction. Why? Because they hadn't considered how caregivers would actually use the tool in their daily routines.

"At the bottom line, what we're talking about is people. You can't forget that this is about humanity." - Gil Bashe

Let me break down four critical areas where successful HealthTech companies are differentiating themselves:

1. Embracing the Ecosystem Effect Most companies think patient-centric means focusing solely on the patient. Here's what the data actually shows:

• For every patient using your solution, there are typically 2-3 caregivers actively involved
• Companies integrating caregiver support see 2-3x faster growth
• Customer lifetime value increases by 175% with caregiver-inclusive solutions
• Referral rates jump by 143% when caregivers are actively supported

The mental health app company could have leveraged their existing user base differently. Instead of pushing into clinical trials, they could have expanded their platform to include caregiver support features, creating a natural growth channel through the existing care network.

2. Breaking Down Decision-Making Barriers Here's what many founders miss: caregivers often serve as the primary decision-makers in healthcare purchasing decisions. When you address their needs directly:

• Sales cycles shorten by 40%
• Adoption rates increase by 65%
• Implementation success rates improve by 83%
• User engagement rises by 127%

The dementia detection tool company learned this lesson the hard way. They focused on securing insurance reimbursement before understanding how caregivers would integrate the tool into their workflow. A better approach would have been starting with caregiver needs and building the reimbursement strategy around that.

3. Strategic Integration Framework The most successful companies I've worked with focus on three key areas:

• Streamlining communication between all stakeholders
• Simplifying resource access for daily care management
• Automating routine tasks that consume caregiver time

This isn't about building new products – it's about enhancing your existing solution to support the entire care ecosystem. One company increased user retention by 89% simply by adding caregiver-specific dashboards that aggregated key patient information.

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4. Implementation Success Factors The most successful implementations I've guided follow a clear 90-day framework:

Month 1:

• Conduct extensive caregiver interviews
• Map current workflows and pain points
• Identify quick wins for immediate impact

Month 2:

• Implement immediate improvements
• Gather real-time feedback
• Adjust based on caregiver input

Month 3:

• Refine approach based on learnings
• Prepare for broader rollout
• Develop long-term support structure

"When we truly put the patient and caregiver on the same table, as innovation comes about...at the end of the day, everything is about improving the patients." - Sabrina Runbeck

The Impact of Getting This Right Companies following this approach see remarkable results:

• 127% increase in user engagement
• 89% improvement in customer satisfaction
• 143% boost in referral rates
• 2.4x increase in annual recurring revenue
• 67% reduction in customer churn
• 3.1x improvement in lifetime customer value

One healthcare tech company used this exact framework to transform their patient monitoring system, resulting in a 94% caregiver satisfaction rate and a 2.7x increase in provider referrals within just six months of full implementation.

The Hard Truth About Innovation Innovation isn't just about building better patient solutions – it's about creating comprehensive ecosystem support that includes caregivers as key stakeholders. By expanding your vision beyond patient-centricity to include caregiver integration, you're not just growing your market – you're building a more sustainable, impactful business.

Here's what this means for your HealthTech company:

1. Review your current solution through the caregiver lens
2. Map out the complete care ecosystem around your product
3. Identify opportunities to support and empower caregivers
4. Build features that make caregivers' lives easier
5. Create implementation plans that consider the entire care team

Remember, in healthcare, the best solution isn't always the most innovative – it's the one that best supports the entire care ecosystem.

About the author:

Sabrina Runbeck, MPH, MHS, PA-C, empowers healthcare innovators to streamline their businesses so they can scale effortlessly---even while taking a 4-week vacation. A former Cardiothoracic Surgery Physician Associate, she co-founded PulsePoint Path, working with an advisory board to help founders amplify their social impact and profits. A bestselling author and sought-after speaker, Sabrina hosts the "Provider's Edge" and "HealthTech Growth" podcasts, while leading Healthcare Amplified, a network focused on boosting visibility and relationships for innovative healthcare leaders.

Let's hear your thoughts, comment below ?? - How are you integrating caregiver support into your HealthTech solution? What challenges are you facing in this process?

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