Indiana's Potential as a Leader in Healthcare Tech

Posted: Updated:

The explosive success and high-profile acquisitions of local businesses such as ExactTarget and Interactive Intelligence have put Indiana on the map as a rising hotspot in the technology industry. Thanks to a growing talent base, software-as-a-service innovations and a healthy desire to solve problems, our collection of marketing tech businesses stack up against any state in the Union. Add to that the headquarters of one of the largest health insurance providers in the country (Anthem), the nation's largest medical school (IU School of Medicine) and a globally recognized hospital system (IU Health) - not to mention a not-so-healthy population (we're the 11th-fattest state in the U.S.) - and you’ll start to see why Indiana is becoming a leader in the healthcare technology industry as well.

Local companies such as Formstack, Healthx and Springbuk - among others - are at the forefront of innovation and growth in the healthcare tech space. Consumers are demanding more from healthcare, and the system is slowly beginning to bend toward their requests. Historically, healthcare has been strictly reactive: you get sick, you go to a doctor, you receive treatment. Thanks to the numerous ways technology has infiltrated our everyday lives, that’s beginning to change. Healthcare is becoming more proactive and on-demand. Millennials, in particular, have welcomed the abundance of new technology into their lives, and they expect technology such as electronic medical records, mobile apps and online data to give them an easily accessible, complete picture of their health - any time, anywhere. Indiana’s healthcare tech companies (TechPoint currently lists 43 of them, and the number is growing) are working to make that vision a reality. We’re moving from the idea of taking care of health issues as they arise to the constant optimization of a patient’s healthcare.

Obviously, there are some big problems to address before we get there. Security is a major concern for the general public, as there’s a new data breach seemingly every week. For all of the worries about cloud security, though, the greatest threat to healthcare data security is still human error. Paper forms are the number one cause of breaches. Within healthcare facilities, each paper form is handled by an average of four different people - exposing patient data to risk of human error or outright theft. HIPAA compliant online forms are not only more efficient and more convenient for modern patients and healthcare providers, they’re also more secure.

Another serious issue is data quality and consistency. Over the years, health records have been collected and organized so haphazardly that even when tech firms receive access to data, it’s often such a mess that synthesizing it into useful formats is extremely difficult and time consuming. This obstacle will fade with time: the human race has created more electronic data in the last ten years than in all of history before it. HIPAA compliant online forms help in this matter, too. Data quality and consistency is improving every day, which is good news for future generations. In the meantime, healthcare tech companies will be required to collaborate freely in order to develop useful, convenient solutions for customers. This teamwork has already begun within the Indiana healthcare tech scene, but in order to truly take the lead on a national stage, transparency and openness amongst firms will be essential to our progress.

Currently, there is much debate within our country about the future of our healthcare system. The government will not solve the issue of pulling healthcare into the modern age; the task of transformation will be left to the private sector. Traditional models will be challenged and newer avenues, such as telemedicine and mobile healthcare, will need to be explored. Indiana already has a strong lead, thanks to its robust community of innovative healthcare technology businesses. Continued growth and collaboration across the state will help us evolve as leaders  in an emerging industry with enormous global impact.

Chris Byers is the CEO of Formstack,

  • Perspectives

    • How Well Are You Tracking Your Marketing?

      One of the first metrics business owners learn about is return on investment, or ROI. Earning the highest possible ROI is critical when running a business. You make investments with the expectation that you’ll have something to show for them. So how's the ROI on your investment in marketing and advertising? If you’re like most business owners, your answer is something like "I think it's pretty good" or "things seem to be working."

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Triple XXX Root Beer Appears in Prime Time

      A soft drink that carries the name of an iconic West Lafayette restaurant has been featured on a national television series. In a message on the Triple XXX Family Restaurant's Instagram page, co-owner Carrie Ehresman said the recent appearance of Triple XXX Root Beer on NBC's "Chicago Fire" was not product placement. She said the show's producers reached out through the restaurant's website and "we weren't sure we'd make the final cut until it aired!"

    • $13M Townhome Development Debuts in Carmel

      Indianapolis-based real estate developer Onyx and East has unveiled a $13 million luxury townhome development in Carmel. The Uptown at WestClay is set to hold its grand opening the first weekend in June.

    • Indy Dealership Owner Charged With Money Laundering

      An Indianapolis man is facing federal charges for allegedly laundering the proceeds of an international advance-fee scheme through his used car dealership. The U.S. Department of Justice says Tochukwu Nwosisi, the owner of Indyrides LLC, allegedly use the money for personal use and to purchase vehicles that were shipped to the scheme's perpetrators in Nigeria.

    • Despite Profit Increase, Shoe Carnival Predicts Store Closings

      Evansville-based Shoe Carnival Inc. (Nasdaq: SCVL) is reporting fiscal first quarter net income of $13 million, up from $8.2 million during the same period last year. Despite the increase, the company says it expects to close up to 25 stores throughout the fiscal year while adding three new locations.

    • Mecum Indy Auction Hits Record Sales

      The Mecum Auction's annual Original Spring Classic event at the Indiana State Fairgrounds set a record. The organization says overall sales grew 24 percent from the previous year, generating nearly $70 million. Mecum says 1,406 vehicles were sold at the auction with the highest-selling vehicle being a 2017 Ford GT that sold for $1.8 million.