Telehealth is driving a boom in digital communications

The coronavirus pandemic has slowed the momentum in growth for the healthcare industry this year, but experts say COVID-19 has brought opportunities for healthcare startups to succeed and innovate.

In 2019, billions were invested in digital healthcare companies, with $7.4 billion invested across 359 deals, according to Rock Health, a venture fund for digital health. A strong first quarter showed 2020 would have continued on that trend, but the pandemic caused investors to slow down, according to a panel of industry experts who spoke on Industry Update and Market Trends for HIMSS20 Digital. Moderator Indu Subaiya is a cofounder of Health 2.0 and senior advisor for HIMSS.

Still, digital communication companies are thriving amidst a boom in telemedicine brought on by the pandemic, while companies such as Doctor on Demand are hiring more physicians to meet the surge in virtual care.