Peter Micca, national health tech leader at Deloitte, is bullish about 2023 as healthcare technology stocks and venture capital funding are on the decline, Politico reported Jan. 3.
Mr. Micca said that despite the economic downturn and falling venture capital funding, demand for healthcare technology is still outpacing its supply, especially for technology products that aim to improve care delivery and enhance health outcomes.
In order for startups to succeed in the downturned economy, however, companies will need both the technology and a clear plan for a revenue stream, according to Mr. Micca. If not, investors will hold back due to rising interest rates and the fear of a recession.
Mr. Micca also recommended investors look outside of the U.S. for promising innovators.
"There's a compelling amount of intellectual property that gets created globally, particularly in geographies like Israel, that really only can get commercialized in the U.S.," Mr. Micca told Politico.