3 connected strategy in the healthcare industry Introduction In recent decades, technological advancements have dramatically changed the way in which many industries and companies deliver products/services and engage with cus- tomers. However, one exception to this rapid technological transformation is healthcare, particularly as it relates to the way in which patients receive care. For a multitude of reasons, many healthcare organizations have been slow to adopt patient-facing tech- nologies that could disrupt and improve the way in which patients manage their health and illnesses.1 Despite the immense benefit the healthcare industry would realize if it embraced technology and connected strategies, it remains dominated by primarily epi- sodic, inefficient, in-person interactions between patients and providers. While patient care has been slow to transform, there has been more traction in recent years given a number of key catalysts for innovation. As of 2019, digital health represented a global market of approximately $350 billion with companies focused on patient wellness, disease prevention, and care-delivery, repre- senting roughly 50% of this market and these sectors are expected to grow by at least 10% annually through 2024.2 As the industry evolves, it is important to analyze and understand the successes and failures of companies deploying connected strategies in patient care to gather insights and learnings that can be applied to future digital health companies. To gain a better un- derstanding of the approaches and conditions that can impact the success of connected strategies in patient wellness and care delivery, this paper analyzes notable examples of digital health companies focused on the management of chronic conditions. Chronic dis- ease management is particularly relevant to the connected strategy framework because it has the potential for significant improvements in patient outcomes while lowering the overall cost of care through a connected delivery model that involves continuous, low friction relationships between providers and patients. To more effectively analyze this space in detail, this paper primarily focuses on one therapeutic area within chronic disease management for which there are ample examples of digital health companies trying to employ connected strategies: Type II diabetes. This paper assesses the con- nected strategies of multiple digital health companies that use remote monitoring tools and interactive treatment plans to help patients manage their chronic diseases, specifi- cally focusing on Type II diabetes. Additionally, this analysis contrasts the successes of 1 https://www.healthaffairs.org/do/10.1377/hblog20190301.476734/full/ 2 https://www.mckinsey.com/industries/pharmaceuticals-and-medical-products/our-insights/healthtech-in-the-fast-lane-what-is-fueling-investor-ex- citement
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