Digital healthcare sphere has readily accepted the Silicon Valley model for startups. However, even though many have proclaimed innovation as a key focus, actual creativity is not at place. The startup model prescribes to develop a product and pitch first. Then, to raise money and succeed (TechCrunch article is a great metric for this). And last, to enjoy and quit.
The reality turns out to be not so flashy in the reality, though. CNBC provides a great example: Jim Riley’s story about his founding a health technology company, iCare. At first interesting software adventure, it turned out to be hard work with plenty of obstacles. Healthcare executives have even invented a term for this: “pit of despair”. Before entering the promising digital healthcare market, the one has to understand how many hidden pitfalls it has, like standards, regulations, intense competition, cultural resistance, long sales cycles, etc.
So, when embarking on the health software market, entrepreneurs should conduct a thorough market research and define its crucial needs. Amelia Edwards has offered an interesting solution: narrow your target audience. She advises concentrating not on boutique health applications, but on the ones that will be useful and will impact, for instance, low-income households and increase the level of healthcare services they get. It is the way to develop a niche on one’s own, become useful and on-demand, and, finally, succeed.
The income of all American people is not the same as Silicon Valley wealth level. And healthcare software should be designed, developed, and promoted with this fact in mind. Social programs are a great way to extend the idea. And in case you need consultation about your healthcare software idea, we are always ready to help you!