Prepare for the Digital Health Revolution

There are many choices we make over the course of our lives. Some are fairly insignificant, like the clothes we put on in the morning; others, such as the vocations we settle on, have life-changing consequences. But there’s one critical decision we don’t get to make: the choice of being born into a human body—and all the arbitrary ailments and inevitable biological breakdowns that follow.

This is what sets health care apart from other industries. The ­business of medicine is quite literally one of life and death. And throughout much of the world, it remains a messy, inefficient, ­expensive sector in need of radical reform.

Just consider some of the heart-wrenching numbers. Nearly one in four non-elderly American adults had past-due medical debt in 2015. That’s actually an improvement from 2012, when the figure was closer to 30% (insurance coverage gains under the Affordable Care Act are one likely reason for the decline). In Mississippi, more than 37% of the population owed money to care providers in 2015. Medical expenses are the top driver of personal bankruptcies. And last year the federal government projected that the nation’s health care bill would top $10,000 per person for the first time in history.

So what do we get for these extravagant private and public costs? A system where it takes weeks to see a doctor face-to-face, where more than 6,500 locales are officially deemed to have too few medical professionals to meet patients’ needs, and where U.S. health outcomes are consistently mediocre compared with those of many of our developed-nation peers (and even some of the less developed ones).

This status quo is ripe for disruption. And while true reform will require all the relevant parties—government, industry, and health care consumers themselves—to make major adjustments, an insurgent group of digital health companies is doing its best to drag American medicine into the 21st century kicking and screaming.

By Sy Mukherjee | Fortune

Illustration Credit: Fortune

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About Peter Coffaro 1104 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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