The Rise of Telehealth Represents Opportunity for Entrepreneurs

If you noticed the surge of Telehealth services that emerged during the pandemic, you might (understandably) perceive a fad that has reached the height of its popularity. However, the trend toward increasing Telehealth has only just begun. And for entrepreneurs, the development of new technologies and modes of delivering healthcare represents an enormous, still-untapped opportunity.

What’s driving the trend toward Telehealth? The pandemic served to highlight problems within the American healthcare system that had been plaguing it for years. This unexpected public health emergency only magnified the deficits. A shortage of healthcare professionals, lack of access to facilities, high costs, scheduling inconveniences for parents and workers, and several other factors combined make in-person healthcare less than ideal for the average person in the United States.

Telehealth provides the answer to many of those problems. Yet that wasn’t fully realized until the pandemic revealed widespread apprehension about going to the doctor, and staying home appeared to be the safer option.

Telehealth represents a lucrative opportunity for tech investors. The trend toward growing Telehealth services depends, of course, on the development of technology. The healthcare sector needs everything from reliable video chatting platforms, to secure data storage, to fast and convenient testing modalities. The commonplace use of smartphones paired with the expansion of public internet accessibility means almost anyone can access the healthcare platforms of their choice.

In 2021 alone, global investments in Telehealth technologies jumped 70 percent, to 17.6 billion dollars.

Novel ideas lead to rewarding start-up endeavors. An understanding of public needs combined with imagination could launch a new era of tech-startup success. Apps as simple as those tracking menstrual cycles and pregnancy data have already garnered millions of users and are still growing rapidly.

Numerous startups, based on simple ideas that provide for widespread need, have already flourished in the Telehealth environment. If you have a tech startup concept, an experienced attorney can help guide you through the complicated but promising path to development and launch. Reach out to our office for more information.

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Michael Kimball, Esq.

Mike Kimball offers practical, timely, and economical legal solutions that move projects along and allow you to focus more on your core business objectives. He has years of experience partnering with companies ranging from Silicon Valley startups to firms in aerospace, biotech, construction, and many more. Mike’s in-house experience includes Yahoo!, Krux Digital (acquired by Salesforce), and Commerce One. He has worked on transactions with Eurostar, Red Bull, Major League Baseball, NASDAQ, Goldman Sachs, Liveramp, Amazon, and NASCAR.