13 Fastest Growing Digital Health Companies in 2023
Updated on Aug, 06 2023
Written by Dr. George Laliotis
Healthcare stands out as a sector experiencing dramatic change as the digital revolution spreads across many industries. Using technology, digital health companies are introducing new approaches that improve accessibility and patient care, and democratize access to medical resources.
The twelve fastest-growing digital health companies that are reshaping the healthcare industry with astonishing speed will be highlighted in this article along with an examination of the meaning and significance of digital health today.
What is a Digital Health Company?
Digital health companies employ the latest technological advancements to drive transformation in the medical sector. Through the inception of top-notch digital solutions, encompassing telemedicine platforms and wearable devices, these companies don't just improve patient care but also democratize the accessibility to medical resources.
The main goal of digital health companies is rooted in empowering individuals with the vital tools to actively manage their physical and mental wellness, thus promoting comprehensive wellness. By reshaping healthcare to be more efficient, personalized, and hassle-free, these entities are setting the stage for an advanced standard of care.
In essence, digital health companies, through their innovative and patient-centric approaches, are progressively narrowing the equity gap in healthcare, making it a driving force in redefining medical care globally.
Why is Digital Health Important Today?
Nowadays digital health takes on escalating importance as it pledges care that is prevention-focused and consumer-centric. The scope exceeds just tools and tech; it embraces radically interoperable data, artificial intelligence, and secure, open platforms.
The fast-paced evolution of AI, big data, robotics, and machine learning is reforming digital healthcare. These transformations include everything from ingestible sensors and robotized caregivers to remote patient observation devices and applications.
In healthcare breakthroughs, AI is a linchpin, pushing the frontiers of scientific discovery, fostering novel therapies and vaccines, influencing diagnosis and treatment strategies, and facilitating smarter production and supply chain solutions.
Moreover, digital health novelties offer avenues to heighten time-saving steps, improve precision and efficacy, and integrate technologies in new ways, bringing together facets like the Internet of Things, Health, augmented reality, and blockchain.
A noteworthy instance is the Internet of Medical Things (IoMT), which merges medical devices with health IT infrastructures, leading to better patient-doctor communication and boosting data gathering at the user level.
From an economic perspective, projections show the worldwide digital health market growing at a compound annual growth rate of 27.9% from 2020 to 2027, hitting the $833.44 billion mark. Driving factors include the rising count of healthcare applications and increased smartphone adoption rates.
13 Fastest Growing Digital Health Companies in 2023
Docus.ai, an AI-powered digital health platform, was born out of the founders' personal experiences with medical misdiagnosis in Armenia. The platform uses cutting-edge technology like GPT-4, OpenAI Text Embeddings, and Vector DBs to address critical global health issues, including incorrect treatment plans and unnecessary surgeries.
Its AI Health Assistant generates personal health reports for users who can then have these validated by leading medical professionals in the US and Europe. The integration of advanced AI with a global network of doctors gives Docus.ai a competitive edge in healthcare. Docus.ai adheres to HIPAA and GDPR, ensuring user privacy and data security.
The platform aims to revolutionize healthcare by reducing consultation costs, improving accessibility, and providing accurate diagnosis and treatment plans. Docus.ai seeks to make quality healthcare a right for all, with plans to expand its network of medical experts and refine AI capabilities.
Cityblock, a stand-out among digital health companies, has redefines care delivery since 2017. Led by Dr. Toyin Ajayi, who has spent her entire career serving Medicaid patients, this fast-growing company centers its services around the principle of compassionate care.
Rejecting a system that prioritizes speed over patient satisfaction, Cityblock places a strong emphasis on individual needs, offering medical, mental, and social health services. Their comprehensive care includes addressing aspects like food security, housing, addiction, and childcare.
Members are assigned a dedicated care team and can access urgent care from their homes. The company makes extra efforts to alleviate financial burdens, often covering copay fees. This personalized approach has positioned Cityblock as a unique player in the healthcare field.
Oscar Garca-Esquirol and Cristian Pascual launched Mediktor, an AI-driven digital health platform, in 2011. Since then, it has concentrated on enhancing the pre-diagnosis and patient triage processes. Mediktor gives patients quick and effective healthcare assistance by employing an innovative algorithm, guiding them to the best medical facility.
Various global health organizations, including hospital systems, telemedicine platforms, insurance, and pharmaceutical corporations, have already expressed interest in the platform due to its capabilities.
Mediktor intends to increase its exposure in Europe and Latin America by 2023. Furthermore, they’re planning to introduce a qualified solution in hospital emergency rooms. Mediktor provides solutions to improve healthcare access worldwide from its position at the intersection of healthcare and artificial intelligence.
Founded in 2013 by Yonatan Adiri, Healthy.io leverages FDA-approved technology to transform smartphone cameras into at-home medical diagnostic tools.
Healthy.io, one of the fastest-growing digital health companies, provides kits for home urinalysis and digital wound care, allowing for conditions like UTIs, prenatal health, chronic kidney disease, and wound healing to be monitored and managed effectively from home.
With a satisfaction rating of 93%, Healthy.io's solutions have found resonance with millions of users globally and have gained support from organizations such as the NHS, Johns Hopkins Medicine, and the National Kidney Foundation. Its tech suite, combining colorimetric analysis, computer vision, and AI, ensures clinical-grade results. The company’s overarching mission is to democratize access to life-saving medical care.
Proximie, a notable digital health platform, was founded in 2016 by Dr. Nadine Hachach-Haram. Driven by her passion for innovation and education, she envisioned a platform that would extend the reach of a surgeon's expertise and help eliminate the disparity in global healthcare.
Proximity combines telepresence, content management, and data insights to digitize operating rooms worldwide, offering high-fidelity access to surgical procedures in real time. Hospitals and surgeons can capture and share video data, honing techniques and sharing expertise globally.
The platform's ability to integrate data from various sources generates incisive insights, drives productivity, and significantly improves patient care journeys. As of 2023, Proximie operates in more than 50 countries, serving 800+ hospitals and 16k+ users, including 40 medical device organizations, marking its place among the leading digital health companies.
Established in 2020 by Elizabeth Burstein and Sameer Madan, Neurahealth is a virtual neurology clinic providing specialized care for headache and migraine patients, regardless of the condition's rarity.
With the ambition to streamline access to quality neurological care, the clinic aims to maximize convenience, improve patient outcomes, and cut costs. The digital health platform offers an in-app headache tracker, a cutting-edge tool designed to pinpoint triggers and offer bespoke insights for recurring headache sufferers.
Unlike many competitors, the board-certified neurologists at Neurahealth aren't tethered to any specific brand, thus having the liberty to propose the best medication suited to each patient's specific needs. The breakthrough concept of Neurahealth signifies a new era in virtual healthcare, with comprehensive, tailored treatment for neurological conditions accessible anytime and anywhere.
Senseye, a leading player in the realm of digital health companies, was founded by CEO David Zakariaie, a distinguished Google Glass Pioneer and Office of Naval Research Award recipient.
The company is charting a new course in mental health diagnostics. With a seasoned leadership team and an advisory board populated with renowned PTSD researchers, Senseye is dedicating its efforts to transforming mental health management. Their groundbreaking product is a diagnostic platform that incorporates a new degree of objectivity into PTSD diagnosis by utilizing eye physiology as a reliable digital biomarker.
The platform leverages proprietary computer vision and machine learning algorithms to analyze patterns in eye movement, heart rate, and iris biomechanics, all derived from a quick 15-minute mobile test. With a mission to disrupt the current treatment paradigm of mental health, Senseye envisions a world where mental health conditions are as visible and treatable as physical ailments.
Their objective is to empower individuals to take charge of their mental health, paving the way for a new era of personalized care in the digital health sector.
Scan.com, an innovator among digital health companies, revolutionizes the field of imaging intelligence. Founded in 2017 by a team of visionaries from the UK – Dr. Khalid Latief, Mark Nissim, Charlie Bullock, Oliver Knight, and Joe Daniels, this platform sets out with a distinctive mission to democratize access to high-quality, affordable medical imaging.
Facilitating a smooth interface between patients and reliable scan centers, scan.com effectively addressed a substantial issue plaguing the British healthcare system for half a decade. Currently, these founders are broadening their innovative solutions to encompass the US market. At its core, Scan.com strives to uncomplicate the often intricate process of medical imaging by fostering simplicity, transparency, and ease in scheduling.
The platform enables users to find scan centers, evaluate prices, weigh up locations and services, and schedule appointments with a few clicks. Collaborating with over 200 locations and 4,000 affiliated radiologists, Scan.com is steadfast in its mission to streamline healthcare and make it more economical for patients.
Founded by Christian Dansereau, Ph.D., Perceiv.ai stands at the forefront of digital health companies, transforming the treatment of age-related disorders. It harnesses AI-driven precision medicine to produce prognostic forecasts that enhance patient care by physicians and expedite drug development for pharmaceutical companies.
Specializing in Alzheimer's disease, the company's multimodal platform integrates diverse data types such as imaging, genetic, phenotypic, molecular, and clinical variables for precise individual characterization.
Its unique capability allows for the rapid and accurate targeting of subgroups within heterogeneous populations, leading to the creation of highly specific, actionable digital biomarkers. Thoroughly validated, these biomarkers are ready for immediate application in any clinical setting. This multidimensional strategy underscores the innovative direction of the company since its inception.
Bruin Biometrics, situated in Los Angeles and maintaining a European office in Manchester, UK, stands out among leading digital health companies dedicated to innovating healthcare, particularly emphasizing prevention.
CEO Martin Burns guides the firm in harnessing cutting-edge technology to craft sensor-based medical devices, thus modernizing care pathways and advocating for early detection and management of chronic, preventable conditions. The company collaborates with researchers and healthcare institutions to deliver proactive, targeted, and customized healthcare solutions.
Recognized with a Frost & Sullivan New Product Innovation Award, their SEM Scanner is a handheld wireless device designed for PI/PU risk assessment. Additionally, they are in the process of developing OrthoSonos, an Acoustic Emission-based joint health monitor. With a firm commitment to innovation and evidence-based results, Bruin Biometrics emerges as a leader in the preventive care movement.
eHealth Technologies, established in 2006, has established a unique niche for itself among digital health companies. The company employs cutting-edge technology to speed up treatment and provide clinicians with actionable insights, thereby improving patient outcomes.
eHealth Technologies has forged partnerships with significant Health Information Exchanges (HIEs) and highly ranked hospitals across the United States, including 17 of the top 20 hospitals listed on the US News & World Report Honor Roll for 2020-2021. Over time, eHealth Technologies has aided over 2 million patients to receive timely treatment for severe conditions such as cancer and organ transplants.
This innovative strategy involves gathering, organizing, and consolidating medical data from various systems into a comprehensive, searchable digital medical record. eHealth Technologies proffers a plethora of services, encompassing image exchange, concierge services, streamlined integrations, intelligent clinical records, and record retrieval. This strategy enables effortless access to healthcare information, allowing caregivers to prioritize patient care.
Born in the hallowed halls of the University of Toronto in 2012, Atomwise is a digital health company that leverages the power of AI to accelerate the process of small molecule drug discovery. The founders, inspired by the transformative potential of machine learning and convolutional neural networks in the realm of image recognition, extended the boundaries of this technology to the field of drug discovery.
Their breakthrough application of deep learning in structure-based drug design gave rise to AtomNet, a best-in-class AI discovery engine like no other. Validated through over 200 academic and collaborative projects, this engine's unique ability to pinpoint and optimize novel chemical entities has proven its mettle.
Consequently, Atomwise boasts a portfolio comprising wholly owned and co-developed assets that target diseases previously considered undruggable. This portfolio is bolstered by two lead-optimization programs and several initiatives in immunology and oncology.
Backed by substantial funding exceeding $174 million, Atomwise remains unwavering in its mission: to craft superior medicines with greater speed and efficiency. In doing so, they are not merely shaping the future of drug discovery, but also redefining the possibilities of medicinal innovation, positioning Atomwise among the leading digital health companies.
Brought to life in 2019, Done is a game-changer in the realm of digital health companies, specializing in making psychiatric chronic care management for patients with ADHD not only more accessible, but also more affordable.
Born from a desire to make a difference, Done is an innovative endeavor that seeks to rewrite the narrative of ADHD treatment, with its user-first digital platform leading the charge. What sets Done apart in the bustling landscape of telehealth services is its laser-sharp focus on ADHD.
The platform operates as a bridge, linking patients with board-certified medical professionals and offering services that range from online consultations to around-the-clock care team support and prescription orchestration. Patient safety is at the heart of Done's operations, underpinned by stringent identity verification and comprehensive screenings before consultations.
For a monthly membership fee of $79, patients can access Done's suite of services, offering a more affordable approach to ADHD treatment. At the core of Done's mission lies the commitment to leverage technology to revolutionize mental healthcare and improve operational efficiency while adhering to the highest levels of quality and safety.
Digital health companies, with their innovative solutions, are reinventing the healthcare sector. They're not only reshaping patient care and access but also stimulating economic growth.
As they continue to leverage emerging technologies and data, the prospect of comprehensive wellness and patient empowerment seems more achievable than ever.
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