In Q1 2017, $1.6 billion in Venture Capital (VC) funding went to digital health and IT, the second highest quarter ever, according to the Mercom Capital Report as reported by hitinfrastructure.com. This recent VC funding for the digital health sector nearly doubled IT capital since Q4 2016 creating a positive impact for companies providing DAS and small cell services to the medical community.
“Digital Health funding is off to a fast start this year and there was no visible ‘Trump effect’ on investments in the sector, at least in the first quarter, and publicly-traded Digital Health companies actually fared much better in Q1 than last year,” Mercom Capital Group CEO and Co-Founder Raj Prabhu said.
IT health funding went to both practice-centric and consumer-centric companies; $574 million and $1 billion of the overall total, respectively. Since Internet of Things (IoT) devices are being more frequently integrated into health IT, wireless DAS and small cell networks are needed to provide necessary extended bandwidth. Below is a breakdown of how funding was allocated to improve health IT in medical facilities from the Mercom Capital Report as reported by hitinfrastructure.com.:
- Booking received $315 million in Q1 to better engage patients and streamline processes.
- Mobile Wireless received $230 million in funding to improve the ability for clinicians to utilize mobile tools and provide better patient care.
- Data Analytics received $193 million of the VC funding as organizations begin to implement tools to sort through unstructured data, helping clinicians to better understand symptoms and conditions.
- Population Health Management saw $115 million as healthcare organizations use health IT to improve the use of patient data, specifically presenting it as one actionable record.
- Telemedicine received $112 million in funding. Healthcare organizations view this initiative as the “wave of the future,” saving organizations money by retaining patients and cutting down on operational expenses.
- The increased Q1 2017 funding will help healthcare organizations improve patient care and increase workflow through enhanced health IT; enabling them to scale back on overall costs while simultaneously advancing care.
April 20, 2017
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