As the digital health industry continues to grow and evolve, it’s essential for startups to focus on building sustainable and patient-centric practices. However, recent indications suggest that funding for digital health startups in Q4 2022 has dropped significantly, returning to levels last seen in 2019.

While the dollar amounts may seem alarming, it’s crucial to remember that growth is not just about funding; it’s also about how you grow as a company. In this article, we’ll explore a framework for digital health startups to achieve long-term success and maintain quality control while prioritizing patient care.

The Importance of Clinical Expertise

A company built for the long term should have clinical experts as part of its leadership team. This ensures that care is always based on the patient’s medical needs, and maintains quality control throughout the organization. Here are some key reasons why clinical expertise is essential:

• Patient-centric approach: By having clinicians involved in decision-making processes, startups can ensure they’re prioritizing patient needs over business goals.
• Quality control: Clinical experts can help identify areas where care may be compromised and implement changes to maintain high-quality standards.
• Innovation: Clinicians can bring a unique perspective to product development, leading to more effective and user-friendly solutions.

Bringing Clinicians into Senior Leadership

The best-case scenario for a digital health startup is to have a clinician as a co-founder or senior leader. This brings several benefits, including:

• Clinical expertise: A clinician co-founder can provide valuable insights and guidance on product development and patient care.
• Collaboration: When clinicians are involved in leadership decisions, they work closely with non-clinical leaders to ensure everyone is aligned on patient-centric goals.

Practicing What You Preach

Non-clinical leaders, including founders and executives, should practice what they preach by:

• Looping in clinical partners: Regularly involve clinicians in business discussions to ensure their perspectives are considered.
• Prioritizing quality control: Make patient care a top priority, even if it means making sacrifices on growth or profits.

The Benefits of an Active Clinical and Non-Clinical Partnership

An active partnership between clinicians and non-clinical leaders leads to several benefits, including:

• Improved collaboration: Clinicians and non-clinical leaders work together to achieve common goals.
• Identifying indirect clinical impacts: Clinicians can identify areas where their expertise is needed, even if it’s not directly related to patient care.

The Role of Clinicians in Product Development

Clinicians play a vital role in product development by:

• Providing insights: Share their knowledge and experience to inform product design and functionality.
• Ensuring usability: Ensure products are user-friendly and meet the needs of patients and caregivers.

A Framework for Success: Prioritizing Patient Care

To achieve long-term success, digital health startups should focus on building patient-centric practices. Here’s a framework for achieving this goal:

1. Involve clinicians in leadership decisions: Have clinical experts involved in decision-making processes to ensure patient care is prioritized.
2. Prioritize quality control: Make patient care a top priority, even if it means making sacrifices on growth or profits.
3. Foster collaboration between clinicians and non-clinical leaders: Regularly involve clinicians in business discussions to ensure their perspectives are considered.
4. Invest in clinician-led innovation: Support the development of new products and services led by clinicians.

By following this framework, digital health startups can build sustainable and patient-centric practices that prioritize quality control while driving growth and success.

Conclusion

The future of digital health is uncertain, but one thing is clear: prioritizing patient care and involving clinical experts in decision-making processes are crucial for long-term success. By adopting a patient-centric approach and fostering collaboration between clinicians and non-clinical leaders, startups can build sustainable practices that drive growth and innovation.