Digital health is a prime target for our investment fund and there were valuable discussions at the ViVe Conference earlier this month. The conference brings together healthcare providers, payers, investors, and entrepreneurs that recognize the immense potential of the digital health industry.

This article from Med City News highlights six key insights from industry leaders at the conference regarding common pitfalls for digital health startups:

1. Overselling: Rebecca Kaul of Northwell Health emphasizes the importance of focusing on problem-solving over sales pitches, highlighting the need for mutual learning and engagement between startups and health systems.
2. Weak plans for IT integration: Michael Kalishman warns startups against underestimating the complexity of integrating their products into hospital IT systems, stressing the necessity of understanding internal processes and data systems.
3. Inability to stand out from competitors: Michelle Stansbury, chief venture officer at Virginia-based Sentara Health, points out the oversaturation in the digital health market and urges startups to clearly articulate what sets them apart from competitors.
4. Lack of cybersecurity considerations: Stansbury also highlights the importance of addressing cybersecurity concerns, as many startups fail to adequately address questions about product security.
5. Not enough focus on clinical value: Lynne Chou O’Keefe, founder and managing partner at Define Ventures, underscores the significance of substantively discussing clinical models relevant to digital health products, prioritizing clinical value over financial growth.
6. Lack of good utilization and engagement metrics: Cathy Gao, a partner at Sapphire Ventures, stresses the importance of showcasing utilization and engagement metrics, particularly emphasizing the need for data on how clinicians use the product over time to ensure long-term viability and customer retention.