How can Digital Health Consulting Firms Help your Tech Development?

Digital health tech development doesn’t come without challenges. The health tech space is fast-growing, and you need to stay ahead of the curve. That's why there has been such an explosion in digital health consulting firms.

However, health technology is an increasingly profitable industry. Thanks to the pandemic, personal health is now at the forefront of public minds. In 2020, the digital health market size grew beyond $141 billion. This leaves extensive room for innovation. 

Unfortunately, the demand for developers is also increasing in line with the industry expansion. Talent pools just aren’t full enough to meet the tech industry demand. As a result, many digital health firms are struggling to scale for their latest innovations. 

Consider a mutually beneficial collaboration with a consulting firm. Outsourcing can seem like a risk. However, digital health consulting firms have experience in your space. They supplement your existing development teams, and help to manage the current challenges of technology development.

This is why your company should think about a development collaboration with a digital health consulting firm. 

Digital Health Development and Compliance

Regulatory compliance is vital in the health technology sector. However, it may not be the first priority for specialist technology developers. 

Compliance mistakes can be costly when dealing with private data, and health information. Fines for data regulations like GDPR, or HIPAA, can quickly cripple a business. 

In July 2021, Amazon was fined $880 million for a GDPR violation. This fine is the largest of its’ kind. It was reported that Amazon failed to process users’ personal data in line with the EU regulation. The hefty penalty was allocated due to the way Amazon collected cookie consent from the users of the platform. 

Global privacy regulations change and update on a regular basis. Therefore, it is important to keep up to date within the sector. 

Digital health consulting firms have experience working within the health technology sector. As a result, they have experience working to privacy and data regulations. They have access to a wealth of compliance experts, to advise your development. 

In-house developers can focus on the project development and the projects’ end goal. Compliance experts can offer guidance throughout the build, to ensure key regulations are met. A consulting firm can help with the quality assurance of your end product, and help you to avoid hefty fines. 

Developer Shortage

There is a considerable shortage of skilled developers in the industry at the moment. You will spend valuable time and resources on recruitment, for little results. This issue doesn’t just pertain to health technology, but the technology development industry as a whole.

Globally, the talent shortage amounts to a lack of around 40 million skilled workers. In the US, tech positions are in the top 10 hardest roles to fill.

The technology industry, and the health tech industry by association, continues to grow. The public reliance on technology in their everyday lives is unlikely to slow. However, in the wake of the COVID-19 pandemic, reliance on health technology has increased exponentially. In April 2020, 43% of US primary care visits were done via telemedicine. In February, this figure was less than 1%. 

Demand for developers continues to increase. Digital health businesses need to scale. However, the talent pool cannot keep up. 

Digital health consultants can help to bridge this gap. All hiring and workforce management is managed by the consulting firm. This removes considerable strain from your resources, and allows you to focus on your project. 

The firm can provide developers to suit your project size. Their developers can fill gaps in teams, with varying specializations. 

Expertise

With previous experience in the sector, consulting firms offer a variety of expertise within their workforce. They have extensive experience in the health tech industry, and this should be utilized to improve your development.

Take a look at consulting firms previous case studies. Consider the experience that is relevant to your project. They should be able to provide advice based on the successes and struggles of previous developments. It is important that a potential consultant knows your space well. 

A particularly valuable offering is the addition of business analysts. Analysts assess the health tech market environment, and your solutions’ place within that market. 

This expertise can be used to guide your development. It is important to keep up to date with changes and updates to the market for your solution. Awareness of market trends can set you up for success at launch. 

Partnership

The relationship between your organization and a consulting firm should be a partnership. This is the most conducive to success. 

Many consultancies or outsourcing firms work on a contractual basis. This can create a very transactional relationship. Both parties are working towards an end date, rather than a successful development. 

Your partner should supplement the gaps that you have within your teams. More than that though, they should be a means of support. The consulting firm will likely have more experience in the sector than your organization, so use that. Take their advice where possible, to improve your development. 

The working relationship should be a priority when deciding on a collaboration. Consider whether your relationship could benefit both parties. Ultimately, mutual success is important for both you and the consultant. 

At Vertrical, we work with you to meet your development goals. We have a team of expert developers and compliance specialists to ensure that your project is a success. Contact us today to discuss a digital health development partnership.