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☆ Would you pay hundreds of dollars for an app your doctor prescribed? Buzzy digital therapeutics could make you healthier — but your insurer probably won't cover them.
  + stars: | 2023-09-01 | by ( Natalie Rahhal | ) www.businessinsider.com   time to read: +8 min
Apps such as Somryst — known as prescription digital therapeutics — aim to raise the bar for personal healthcare delivered via smartphone. Digital therapeutics show promise for treating IBS and insomniaFunding for digital therapeutics surged by 133% between 2020 and 2021, and the sector's global value is estimated to grow from roughly $7 billion to about $28 billion from now to 2030, Fortune Business Insights reported. In fact, many insurance companies want years of data on real-world use before covering digital therapeutics, Insider previously reported. While there are free nonprescription DTxs available from sources such as the Department of Veterans Affairs, those aren't cleared by the FDA, and privately made prescription digital therapeutics often cost hundreds of dollars. "Digital therapeutics are meant to increase access to care.
Persons: Charlotte Jee, Jee, Corey McCann, John Torous, Beth Israel, they're, Torous, They're, AspyreRx, Mark Berman, hadn't Organizations: Healthcare, Morning, MIT Technology, National Health Service, Food and Drug Administration, Pear Therapeutics, Harvard Medical, Beth Israel Deaconess Medical, Fortune Business, FDA, Better Therapeutics, Disease Control, Department of Health, Human Services, of Health, Department of Veterans Affairs, Aetna
☆ Healthcare VCs are focusing their bets on a handful of top startups, forcing the rest to scramble to stay afloat
  + stars: | 2023-07-10 | by ( Rebecca Torrence | ) www.businessinsider.com   time to read: +6 min
In the first half of 2023, healthcare investors have written big checks for their top startup picks. 2023 is on track to be the lowest year of healthcare funding since 2019, Rock Health says. Digital-health startups in the US raised $6.1 billion in the first half of 2023, Rock Health's H1 2023 funding report published on Monday found. Right now, 2023 is on track to be the lowest healthcare funding year since 2019, according to Rock Health. Krasniansky said Rock Health expects many of the impending shutdowns to impact healthcare startups that sell products and services to patients online and on-demand, especially direct-to-consumer companies like telemedicine or mail-order-pharmacy startups.
Persons: It's, haven't, Healthcare's, healthcare's, Adriana Krasniansky, Krasniansky, Ian Chiang, he's, Lynne Chou O'Keefe, it's, Corey McCann, Chou O'Keefe, — Organizations: Rock Health, megadeals, Monogram Health, Frist Cressey Ventures, Flare Capital Partners, Define Ventures, Pear, Madison, Pear Therapeutics
☆ Using video games as medical treatments seemed promising, but a stunning failure raises questions about the future of digital therapeutics
  + stars: | 2023-06-07 | by ( Rebecca Torrence | ) www.businessinsider.com   time to read: +7 min
With digital therapeutics' trailblazers in jeopardy, experts think more failures are on the horizon. Covering digital therapeutics hasn't been easyInsurers, the ultimate gatekeepers in healthcare, have been slow to warm to the idea of reimbursing prescription digital therapeutics. Plus, most digital therapeutics don't integrate with electronic-health-records systems, making it difficult for clinicians to track their patients' progress. Senators reintroduced a bill in March that would guarantee Medicare reimbursement for prescription digital therapeutics. Want to tell us about your experience with digital therapeutics?
Persons: Pear, It's, Akili, Jeffrey Abraham, Rick Bartels, Bartels, Corey McCann, Matt Stoudt, Stoudt, Matthew Stoudt, keener, we'll, that's, Abraham, Rebecca Torrence Organizations: Morning, Pear Therapeutics, Food and Drug Administration, FDA, Digital Therapeutics, Pear, Centers, Medicare, Services, Senators, CMS
☆ 98point6 is ditching its telehealth business to sell software. Here's the presentation it used to raise $30.7 million to fuel its pivot.
  + stars: | 2023-05-08 | by ( Rebecca Torrence | ) www.businessinsider.com   time to read: +3 min
98point6 has stopped providing virtual care and is focusing on licensing its care delivery platform. When 98point6 raised $20 million in September, it had no plans to sell its virtual care business, according to CEO Jay Burrell. Running the virtual care business took a lot more cash, though, and the digital health market was still tumbling. In March, 98point6 sold its virtual care business to Transcarent for $100 million. The fresh capital brings 98point6's total funding to $297 million, excluding the $100 million Transcarent deal, per the company.
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