Digital health providers, who used to provide single-point solutions in order to be successful, are now having to change their strategies to be considered for purchase.
At the beginning of the pandemic, digital health solutions were bought in an opportunistic fashion on an ad-hoc basis. Now though, most companies have realized the full potential of digital health offerings, and are more strategic in their decision-making on which to buy.
“In the early days, they took that call when it was a digital health start-up that was new,” Charles Rhyee, a healthcare analyst at Cowen, told CNBC. “Now employers are looking for end-to-end solutions to provide multiple services and we have seen this continued consolidation.”
Now, the digital health providers are expanding into areas like data and navigation and primary and chronic care — and possibly even into pharmacy and follow-up care — to be considered for healthcare companies, according to the report.
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