TripleTree, a leading investment bank that creates opportunities for healthcare innovation, recently hosted the eighth installment of its Market Insights Live series. The session, titled “Innovation That Delivers Impact,” featured four companies that received a TripleTree iAward on December 8, 2020.
Twistle was among this year’s iAward winners, along with SilverCloud Health, Clearwave, and Verata Health, and was represented in the session by CEO Kulmeet Singh.
The iAward winners were recognized for their work building innovative solutions that improve healthcare and transform care delivery to better meet patient, provider and payer needs. The ongoing pandemic of 2020 has only put a brighter spotlight on the need to accelerate transformation in a historically change-resistant industry and it has also enabled broader adoption of digital health tools.
What sparks innovation in healthcare?
Ryan Engle, a Partner at TripleTree and the discussion moderator, asked panelists to identify the “innovation spark” for their entrepreneurial endeavors. A common theme was lowering barriers in healthcare: expanding access to mental healthcare, scaling personalized care and communication to entire patient populations, and removing delays in care that routinely result from administrative hurdles like prior authorization requirements.
What’s next in terms of market momentum?
Patients continue to demand a more consumer-centric experience and providers must work to meet their expectations in order to activate patients in their care and drive higher satisfaction. Integrated experiences are also growing in importance – solutions that reduce the administrative burden on providers and improve the efficiency of each transaction will be more likely to gain traction and widespread adoption.
So is there an appetite for new technologies? Yes! The pandemic has transitioned a lot more healthcare to patients’ homes, warranting a significant focus on those experiences. Twistle CEO, Kulmeet Singh, pointed out a need for both telehealth and virtual care — virtual care is everything that happens outside of a telehealth visit. For a holistic digital health experience, manual or outdated activities (such as providing printed educational materials or making telephone calls to patients) must be replaced with streamlined, automated processes. Patients expect more: zero-contact check-ins for in-person visits, seamless access to appointment scheduling, hyper-personalized patient journeys, and more.
Is digital health here to stay?
Looking ahead to 2021, providers and patients have gone through a crash course in digital health. Patients have new expectations for their healthcare and it is essential that we provide them with meaningful ways to engage in their care. There is also a new view of working remotely which, despite concerns, has not impacted productivity for traditionally office-based staff. We must take advantage of this huge opportunity by leveraging technology to eliminate waste, improve efficiency, and reduce friction between providers, patients and payers for a more sustainable system.
Interested in learning more? Listen to the whole conversation!
Prior to the pandemic, our platform supported rapid innovation of new patient communication pathways, which allowed us to quickly deploy remote patient monitoring that empowered over stretched care teams to safely manage larger caseloads. We are now leveraging insightful engagement data to optimize and personalize pathways to provide step by step guidance tailored to each patient’s unique needs during any care journey.