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Optimism Remains

Despite flattening growth curves, optimism remains.

43% of the firms surveyed are planning growth, and 100% of the companies plan expansion into domestic and foreign markets, but in a post-COVID world, executives are cautious.

“Expansion takes skill, money and patience. If you want rapid growth, you go where you’re comfortable and where it’s cheapest, fastest and lower risk.” 

Evan Smith
Product Leader, Global Healthcare, Specialty Risks

Nothing is off the table

Business leaders are hedging their bets by expanding face to face and remote working capabilities, while also exploring a broad range of other growth priorities.

  • Back to the future

    In our experience, as the digital health industry matures, the number of pure remote care businesses is contracting. Digital businesses are adding physical face to face elements to their business to enhance oversight, improve patient confidence and to enable growth to continue. Increasingly online prescribing is driving some face to face encounters to improve accuracy and confidence.

    “The equal focus on face to face and remote working isn’t so much back to the past as back to the future. To grow, telemedicine providers need to stay flexible, increase choice and take every opportunity to enhance confidence and reduce patient risk.”

    Evan Smith
    Product Leader, Global Healthcare, Specialty Risks

  • AI leads the charge

    A sizeable majority of digital health & wellness companies are planning to increase their use of generative AI in the twelve months to May 2025, with over four fifths focusing on its use in both diagnosis and treatment.


    The focus on generative AI is both a growth strategy and a means to enhance existing business models – which will undoubtedly benefit from being less dependent on physical supply chains and people – the two big headwinds impacting growth.

     

     

“AI is very much squared on fulfilling business requirements when it’s hard to hire. Machine learning algorithms can plug the gap by determining what risk factors are present, indicate likely clinical pathways and support clinical decision making.”

Evan Smith
Product Leader, Global Healthcare, Specialty Risks

AI is also extremely efficient in terms of ‘network navigation’ helping clinicians to select the best available specialist within a benefits package, ensuring faster and more efficient treatment.

3 ‘Somewhat agree’ and ‘Strongly agree’ answers combined. 
 

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