The Engage Mobile team has been home from HIMSS17 – the largest health-focused IT trade show in the world – for a week now. There were over 40,000 attendees and 1,200 vendors packed into the Orange County Convention Center in Orlando – HIMSS is a really big show.
After attending several educational sessions, talking to hundreds of people, walking the floor and looking at every booth, here are my four primary observations from HIMSS17:
Takeaway 1 – The Consumer is Taking Control of Their Healthcare
The consumer is taking more control of nearly every aspect of their own care. The days of just going to the closest doctor are over. Consumers are factoring distance, wait time, cost, quality, reputation and a dozen other factors into the decision of where they go to get care. They are using wearables, apps, social media, websites and other tools to make their own diagnoses. This change is a seismic shift and the impact will be felt for the foreseeable future.
Takeaway 2 – Innovation Will Be the Key to the Next Decade of Health IT
While there has been tremendous innovation in healthcare over the last decade, the pace of innovation will only increase going forward. There were multiple sessions at HIMSS on innovation for everything from population health to consumer mobile apps. Every company is looking for a competitive edge. The companies that are most effective at innovation will win over the long-run.
Takeaway 3 – Fragmentation of the Healthcare Industry Gives All Companies a Chance to Disrupt the Market
Healthcare spending in the US is a $3.2 trillion market representing almost 18% of US GDP. While the industry is one of the largest in the country, each segment of the healthcare industry is incredibly fragmented. For example, the largest EHR vendor represents only 11.6% of the total market. This fragmentation represents an opportunity for smaller players to grow and larger players to gain a foothold in nearly every healthcare market segment.
Takeaway 4 – Data Can be Incredibly Valuable… If it Leads to Better Outcomes
Nearly every company at HIMSS had some type of data component to their pitch. If a company wasn’t collecting or storing data, they were trying to use data to make better decisions. See my earlier post on the topic – data is big and getting bigger.
More than any single takeaway, however, the sheer magnitude of HIMSS17 made two things abundantly clear: mobile technology has become a vital part of the American healthcare industry, and the mHealth sector is evolving at an amazing pace. By the time HIMSS18 rolls around, mHealth’s role in day-to-day patient care will undoubtedly have advanced in efficiency, prominence, and profitability.
Engage Mobile builds custom health and enterprise strategy and software solutions that leverage mobile and cloud technologies to solve unique business challenges.
For more information about Engage Mobile’s role in the mHealth industry, please contact us.