Venture capitalists are still very interested in the digital health market, as is evident by the $2.1 billion invested in the industry this year. Last year, $211 million was invested in payer administration startups; however, this year, wearables and biosensing companies got the majority of the funding at $387 (Jawbone received $300 million of it).
Analytics and big data were second in funding for digital health, garnering $212 million, with Health Catalyst (a Salt Lake City based analytics startup) receiving $70 million of it. Unlike last year, another major category is EHR and clinical workflow, which brought in $74 million. Augmedix, a startup that integrates Google Glass with EMR, earned $16 million of the $74 million invested in the category. Despite the growth in the digital health industry, it has resulted in the market becoming saturated with new companies.
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Caroline Smith is currently a senior at the University of Notre Dame and is a contributor to Medical Groups. She is majoring in Science-Business and Spanish. After graduation, Caroline plans on entering the field of healthcare consulting. She is most interested in the evolving policy changes in the healthcare industry and enjoys learning about new technologies that are being developed.