89% of digital health leaders think the industry is risky + 4 report findings

Digital health leaders feel optimistic about the digital health industry despite nearly 9 in 10 feeling their business operates in a moderate- to high-risk environment, according to a Beazley report.

A March 29 news release said 376 global business leaders in the digital health and wellness sector participated in the survey.

Five things to know about the report's findings:

  1. Eighty-nine percent of respondents said they feel they are operating in a moderate- to high-risk environment.

  2. Ninety percent of respondents said they expect their business to grow in 2021, with only 58 percent who said their growth is due to COVID-19.

  3. Thirty-four percent said client complaints that treatment or advice was not as advertised or that professional competence or qualifications were unfairly represented is the biggest risk to the digital health industry.

  4. Other top risk concerns were cyberattacks, system failure and inadequate care for a client.

  5. Over two-thirds lack the proper insurance coverage for medical malpractice because of remote care provisions, data breaches or cyberattacks resulting in bodily injury.

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