Taylor Hendricks Manager • about 4 years ago
Q: What is your suspicion as to where a business model might begin to emerge for developing tools for this population? Is it after an 8 month "does it work" trial or sales to free clinics, etc.?
A: As the field of digital health is still in its early stages, the timeline and business model for becoming a profitable company is still being determined. Some companies targeting low-income populations have started off with free pilots, which have helped them to gather evidence about the efficacy of their tool; these companies have often been able to leverage those pilots into paying customer relationships. Others have forgone free pilots and have immediately sought paying customers. Ultimately, for any product to be successful in this field, it will likely have to prove that it can improve the health outcomes and reduce the costs of this population, so any long-term business plan should consider how to capture, track, and analyze outcomes.
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