digital pharmacy

AI, DTx at the Forefront in 2020 & More News

Digital Health Experts Needed for International Forum

The IDIH Project (International Digital Health Cooperation for Preventive, Integrated, Independent and Inclusive Living) is seeking digital health experts who are interested in collaborating on a sustainable platform for international cooperation in digital health. IDIH is a project funded under the European Union Horizon 2020 Research and Innovation Programme, bringing together prominent organizations from EU and five Strategic Partner Countries (Canada, China, Japan, South Korea and the USA) to promote and increase international collaboration, advance digital health, and support active and healthy aging through innovation. 

IDIH is looking for individuals whose expertise is in alignment with the following focus areas: preventative care, integrated care, independent and connected living, and inclusive living. 

If you would like to be a part of our expert driven Digital Health Transformation Forum, please send your CV with a short explanation on why you are interested in becoming an Expert Group member or Chair to experts@idih-global.eu by January 31st, 2020. 

Act fast—experts are chosen on a rolling basis!

Digital Therapeutics Expected to Advance Despite Recent Losses 

Despite the recent string of failed collaborations between digital therapeutics (DTx) and pharmaceutical companies, the DTx sector is predicted to grow in the coming year. Richard Close, an analyst at Canaccord Genuity, suggests that key players in the health care arena are attuned to the benefits of DTx solutions for treating patients. One such player is Express Scripts, the largest independent manager of pharmacy benefits in the U.S., whose formulary highlights vetted DTx offerings from companies like Livongo, WellDoc, SilverCloud Health, and Learn to Live. Though consumers are still waiting for clinical validation of DTx through the pharma partnerships, both DTx developers and key care management stakeholders remain optimistic about the value of DTx for clinical uses. 

“Re-Humanization” of Medicine through AI

A report from the social-listening platform Digimind reveals that adoption of artificial intelligence (AI) and machine learning (ML) will continue to be a priority for health care and technology sectors in 2020. The boom of value-based care and patient centric models of operation showcase a desire to “re-humanize” medicine—allowing practitioners to spend more time with the patient and less with paperwork. In recent years, the development of AI and ML has been focused on their ability to make accurate interpretations of diagnostic screenings and to extract key data from patient records. The digital health space can expect to see further development of AI’s medical sensitivity and accuracy to maximize output at the lowest cost. 

Proteus Digital Health's Uncertain Future & More News

Proteus Digital Health’s Uncertain Future in Digital Therapeutics

Proteus Digital Health, a promising digital therapeutics (DTx) company targeting prescription adherence, was once valued at $1.5B. Now, the company faces an uncertain future as it failed to close a $100mm funding round. The company's renowned product, “smart pills,” pairs digestible pills with a smartphone app that alerts patients to take their medication. In 2017, Proteus landed a partnership with Otsuka to develop a digital medicine system named Abilify MyCite to target mental health disorders. The landmark product gained FDA clearance the same year. Despite the excitement over the digital pill, Proteus struggled with patient adoption and has limited data to corroborate the solution’s efficacy—prompting funding partners and potential investors to drop out. Such a downturn has become common for DTx companies, who have been struggling with clinical adoption and may be at risk of losing crucial funding. 

Telehealth Expansion to Close Crucial Health Care Gap

The US Department of Agriculture (USDA) has announced plans to allocate nearly half of its $42.5mm in grant funding toward the development and expansion of telehealth services for rural Americans. This endeavor is the latest federally-funded push to utilize digital health services to improve rural health care.The grants will cover various areas of focus including: providing quality telehealth services to rural populations, expediting the delivery of opioid treatment, increasing access to behavioral health services, and installing telemedicine equipment across various primary care offices and hospitals. Other federal entities like the Federal Communications Commission (FCC) are also targeting rural Americans and will allocate upwards of $90mm toward a pilot program to incentivize providers to develop broadband-based telehealth programs. 

VA Optimizing Health Outcomes Through AI

The US Department of Veterans Affairs (VA) announced the launch of the National Artificial Intelligence Institute, which aims to improve health outcomes for veterans through research and development of advanced AI and machine learning technologies. The VA is currently utilizing AI to better inform treatment decisions, identify at-risk or high risk patients, and improve clinicians' ability to interpret lab results. From the development of telehealth pods that serve veterans in remote areas to partnering with Verizon to maximize telehealth services, the launch of the institute is the agency's most recent effort in addressing veterans' unmet needs through health innovation. 

Same-day Medication Delivery Platform Medly Closes Series A Round

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Healthcare consumerism is on the rise and individuals now expect convenience in each step of their care experience. Digital pharmacies like Medly are taking advantage of this shift. The New York City-based startup provides same-day delivery of prescription medications. Providers can send prescriptions to the Medly platform then patients book a time for home-delivery. Founded in 2017, the company is headquartered in Brooklyn and serves customers in the greater New York and New Jersey area. Medly recently announced a new Series A funding round led by Greycroft for an undisclosed amount. Following the footsteps of their competitor, Capsule, the startup plans to use the infusion of funds to expand its services throughout the US. Medly believes that through humanizing their service and free same-day delivery, they will be differentiated from their competitors.