Drew Schiller: Due to COVID, health systems realized how far behind they were with virtual care technologies

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In this episode, Drew Schiller, Founder and CEO of Validic discusses how COVID-19 has impacted and accelerated the demand environment for remote patient monitoring and other virtual care technologies.

Validic is one of the pioneers in the remote patient monitoring space. Drew states that COVID-19 has accelerated the adoption of remote patient monitoring technologies. Due to the pandemic, health systems have realized that virtual care technologies can reduce the cost and burden of care, especially for at-risk populations.

According to Drew, big tech firms entering healthcare is both a challenge and an opportunity from a digital health startup’s perspective. He believes that the VC funding environment is strong but cautions that much of the funding is targeted at late-stage firms that have demonstrated significant traction. He advises the startups to think more creatively and develop unique approaches to the market that focuses on areas not adequately addressed by big tech firms. Take a listen

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Sign up to get Paddy’s Newsletter that is personally curated by Paddy along with analytical notes on the developments for the week.