Mr. Park claims the Fitbit’s function is vastly different from the fitness technology released by its main competitor, Apple. The goal of Fitbit, said Mr. Park, is to encourage users to become more active through the use of the company’s devices, software and services.
The company’s stock prices, however, reveal a different story. Fitbit’s stock dropped nearly 50 percent this year. But things might be changing. The company’s stock prices have risen nearly 15 percent since June and delivered in-line guidance last quarter, according to the article.
Mr. Park’s decision to transition the company into digital healthcare may prove to be the right decision. A study conducted by a third-party source claims that companies that opt into the Fitbit wellness plan saved roughly $1,300, on average, compared with those who chose not to opt in. The study was released in a press release by the company.
More articles on health IT:
Brigham cardiologist lands $75M from Verily, American Heart Association, AstraZeneca for genetics research
UPMC invests in predictive analytics company RxAnte
Many male tech leaders barely follow women on Twitter
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
