The healthcare startup market is a battle ground for new companies wrestling to seize territory in the burgeoning world of on-demand care. Healthcare hasn't found it's Uber yet, but investments from those hoping to get in on the ground floor is set to quadruple, reaching $1B by the end of 2016, according to a new report from Accenture.
Of the top 10 funded on-demand companies, two are already focused on connecting physicians and patients: TelaDoc received $245 million and American Well received $141 million. Additionally, healthcare represents the fastest growing segment of on-demand service companies.
Broken down by category, the following five market segments comprise the largest allocation of funding for on-demand healthcare, according to the report:
Primary care — $639 million
Fitness & Wellness — $21 million
Behavioral/therapy — $19 million
Specialty care — $15 million
Consumables — $12 million
"Accelerating forces will continue to transform the industry, speeding the transition from "healthcare to lifecare" through cheaper, quicker and more convenient care delivery," the report concludes. "New, higher standards for service delivery will require organizations to shed the old ways of approaching healthcare, and rapidly accept the digital era."
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