Its clear to me that the greatest opportunities for investment into tech is where there is a confluence of tech, government and regulation. Healthtech in the UK is one such area where there is a huge market need for the adoption of digital delivery models to enable the incumbent healthcare provider (that's the NHS) to delivery the 21st century service long promised. No doubt the private healthcare providers will adopt these digital models, which will support VC investment, and there will be demand from clinicians to adopt the latest models so they can deliver the service benefit - is the NHS agile enough to allow quick, mass adoption which we release the full benefits of the coming investment in Heathtech?
Immersed in complex regulatory systems, obtuse payment mechanisms and with practitioners steeped in the concept of ‘doing no harm’ rather than incentivised to change, adoption of any technology in healthcare is notoriously slow. Add in a more complex data ownership environment and a smaller, more fragmented European market and it’s no wonder investment in digital health in the UK is miles behind the US, barely reaching three-figure millions per year. US health customers see value in data analytics and so they buy analytics capability. In the UK, health customers are only just beginning to understand the promise of data and what it can do for them. Until they do, their ability to free up budget to pay for it will take some time. Is this the time when healthcare properly and quickly embraces change?