Lloyd Price
- Oct 14, 2023

Innovators, Enablers, Custodians, Arbitrageurs: Key roles in HealthTech's competitive landscape

Exec Summary

Innovators, enablers, custodians, and arbitrageurs play key roles in the HealthTech competitive landscape.

Innovators are constantly designing new ways to address existing problems and improve the quality of care with technology-enabled healthcare experiences. For example, they may develop new medical devices, telemedicine platforms, or AI-powered tools to help diagnose diseases and identify treatments.

Enablers build the technology stacks that integrate multiple emerging and traditional data sources. This allows healthcare providers, researchers, and insurers to access and analys

e a wider range of data, which can lead to better insights and improved outcomes.

Custodians hold healthcare data and the workflow. This means that they are responsible for the collection, storage, processing, and sharing of healthcare data. They also play a role in ensuring that healthcare data is used in a responsible and ethical manner.

Arbitrageurs rely on information and labor-arbitrage models to build digital experiences. They may develop platforms that allow patients to compare prices and services from different providers, or connect with healthcare providers in other countries.

These four groups work together to create a dynamic and competitive HealthTech landscape.

Innovators are constantly pushing the boundaries of what is possible, enablers are building the infrastructure to support new technologies, custodians are ensuring that data is used responsibly, and arbitrageurs are making healthcare more accessible and affordable.

Here are some examples of how these four groups are working together to improve healthcare:

An innovator develops a new telemedicine platform that allows patients to connect with doctors remotely.
An enabler builds the technology stack that integrates the telemedicine platform with the patient's electronic health record (EHR).
A custodian stores and manages the patient's EHR data securely.
An arbitrageur develops a platform that allows patients to compare the prices of telemedicine services from different providers.

This is just one example of how these four groups can work together to improve healthcare. As technology continues to evolve, we can expect to see even more innovative and collaborative solutions emerge in the future.

The HealthTech competitive landscape is becoming increasingly complex and competitive, but it is also an exciting time to be involved in the industry. Innovators, enablers, custodians, and arbitrageurs all play important roles in driving innovation and improving healthcare.

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Innovators

Innovators in healthcare are constantly designing new ways to address existing problems with technology-enabled healthcare experiences. Here are a few examples:

Telemedicine: Telemedicine platforms allow patients to connect with healthcare providers remotely, using video conferencing or other technology. This can be a convenient and affordable option for patients who live in remote areas, have difficulty traveling, or have mobility issues.
Wearable devices: Wearable devices, such as smartwatches and fitness trackers, can collect data on a variety of health metrics, such as heart rate, blood pressure, and sleep quality. This data can be shared with healthcare providers to help them monitor patients' health and identify potential problems early on.
Electronic health records (EHRs): EHRs allow healthcare providers to access a patient's medical history from anywhere, which can improve the quality and efficiency of care.
Artificial intelligence (AI): AI is being used to develop new tools and technologies that can improve healthcare in a variety of ways. For example, AI is being used to develop algorithms that can help diagnose diseases, identify the best treatments for individual patients, and predict the risk of developing certain diseases.

Here are some specific examples of how innovators in healthcare are using technology to address existing problems:

AI-powered chatbots are being used to provide patients with 24/7 access to information and support. For example, the chatbot Babylon Health can answer patients' questions about their symptoms, provide advice on self-care, and help patients book appointments with doctors.
Virtual reality (VR) is being used to train healthcare providers and treat patients. For example, VR is being used to train surgeons on new procedures and to help patients with anxiety and phobias.
3D printing is being used to create custom prosthetics and implants. For example, the company Stratasys is 3D printing custom prosthetics for patients with missing limbs.

These are just a few examples of how innovators in healthcare are using technology to address existing problems and improve the quality of care. As technology continues to evolve, we can expect to see even more innovative healthcare solutions emerge in the future.

Enablers

Enablers in healthcare have built technology stacks that integrate multiple emerging and traditional data sources. This allows healthcare providers, researchers, and insurers to access and analyse a wider range of data, which can lead to better insights and improved outcomes.

Here are some examples of emerging data sources in healthcare:

Wearable devices: Wearable devices, such as smartwatches and fitness trackers, can collect data on a variety of metrics, such as heart rate, blood pressure, and sleep quality.
Genetic data: Genetic data can provide insights into a person's risk of developing certain diseases.
Social determinants of health: Social determinants of health, such as income, education, and housing, can have a significant impact on a person's health.

Enablers in healthcare have developed technology stacks that can integrate these emerging data sources with traditional data sources, such as electronic health records (EHRs) and claims data. This allows healthcare providers, researchers, and insurers to get a more complete picture of a person's health and make better decisions.

Here are some examples of how enablers are using technology stacks to integrate multiple emerging and traditional data sources:

Predictive analytics: Enablers are using predictive analytics to identify people who are at risk of developing certain diseases. This information can be used to develop preventive care plans and improve outcomes.
Personalised medicine: Enablers are using technology stacks to develop personalized medicine solutions. For example, they are using genetic data to identify the best treatments for individual patients.
Population health management: Enablers are using technology stacks to improve population health management. For example, they are using data to identify populations that are at risk of certain diseases and develop interventions to improve their health.

The integration of multiple emerging and traditional data sources is a powerful tool that can be used to improve healthcare in a variety of ways. Enablers in healthcare are playing a leading role in developing the technology stacks that are needed to make this integration possible.

Custodians

Custodians in healthcare hold healthcare data and the workflow. This means that they are responsible for the collection, storage, processing, and sharing of healthcare data. They also play a role in ensuring that healthcare data is used in a responsible and ethical manner.

Here are some specific examples of the responsibilities of healthcare data custodians:

Collecting and storing healthcare data from a variety of sources, such as electronic health records (EHRs), patient portals, and wearable devices.
Processing and analysing healthcare data to generate reports, insights, and recommendations.
Sharing healthcare data with authorised users, such as healthcare providers, researchers, and insurers.
Ensuring that healthcare data is used in a compliant and ethical manner, such as by following data privacy and security regulations.

Healthcare data custodians play a vital role in the healthcare system. By ensuring that healthcare data is collected, stored, processed, and shared in a responsible and ethical manner, they help to improve the quality of care that patients receive.

Here are some of the challenges that healthcare data custodians face:

Data privacy and security: Healthcare data is highly sensitive, so it is important to protect it from unauthorised access and disclosure. Healthcare data custodians must implement appropriate security measures to protect healthcare data from cyberattacks and other data breaches.
Data sharing: Healthcare data custodians must balance the need to share healthcare data with authorized users with the need to protect patient privacy. Healthcare data custodians must have policies and procedures in place to govern the sharing of healthcare data.
Data compliance: Healthcare data custodians must comply with a variety of data privacy and security regulations. These regulations can be complex and change frequently, so it is important for healthcare data custodians to stay up-to-date on the latest requirements.

Despite the challenges, healthcare data custodians play an essential role in the healthcare system. By ensuring that healthcare data is collected, stored, processed, and shared in a responsible and ethical manner, they help to improve the quality of care that patients receive.

Arbitrageurs

Arbitrageurs in healthcare rely on information and labour-arbitrage models to build digital experiences. Information arbitrage is the process of exploiting price differences in different markets. In the context of healthcare, information arbitrageurs may use their knowledge of different healthcare systems and providers to identify opportunities to save money or improve quality.

Labour arbitrage is the process of taking advantage of wage differences in different markets. In the context of healthcare, labour arbitrageurs may outsource work to lower-cost countries or hire freelancers from different regions.

Arbitrageurs in healthcare use information and labour-arbitrage models to build digital experiences in a variety of ways. For example, they may develop platforms that allow patients to compare prices and services from different providers. They may also develop platforms that connect patients with healthcare providers in other countries.

Here are some specific examples of how arbitrageurs in healthcare are using information and labor-arbitrage models to build digital experiences:

Telemedicine platforms: Telemedicine platforms allow patients to connect with healthcare providers remotely. This can be a convenient and affordable option for patients who live in remote areas or who have difficulty traveling. Arbitrageurs in healthcare are developing telemedicine platforms that connect patients with healthcare providers in lower-cost countries.
Price comparison platforms: Price comparison platforms allow patients to compare prices and services from different healthcare providers. This can help patients to save money on their healthcare costs. Arbitrageurs in healthcare are developing price comparison platforms that are specifically designed for healthcare services.
Medical tourism platforms: Medical tourism platforms connect patients with healthcare providers in other countries. This can be a good option for patients who are looking for high-quality care at a lower cost. Arbitrageurs in healthcare are developing medical tourism platforms that make it easy for patients to book appointments and travel to other countries for healthcare.

Arbitrageurs in healthcare are playing an important role in making healthcare more accessible and affordable. By using information and labor-arbitrage models, they are building digital experiences that can help patients to save money and get the care they need.

It is important to note that there are some potential risks associated with using arbitrageurs in healthcare. For example, patients may not be aware of the quality of care that they will receive from providers in other countries. It is important for patients to do their research and choose a provider that is accredited and has a good reputation.

Final Thoughts

Innovators, enablers, custodians, and arbitrageurs will all play increasingly important roles in the future of healthcare.

Innovators will continue to develop new technologies and solutions to address existing and emerging healthcare challenges. For example, innovators are already working on developing new AI-powered tools to diagnose diseases, identify treatments, and predict the risk of developing certain diseases. Innovators are also working on developing new medical devices and implants that are more effective and less invasive.

Enablers will continue to build the technology stacks that integrate multiple emerging and traditional data sources. This will enable healthcare providers, researchers, and insurers to access and analyse a wider range of data, which can lead to better insights and improved outcomes. For example, enablers are building technology stacks that integrate data from wearable devices, genetic data, and social determinants of health with traditional data sources such as EHRs and claims data.

Custodians will continue to play a vital role in ensuring that healthcare data is collected, stored, processed, and shared in a responsible and ethical manner. This is becoming increasingly important as healthcare data becomes more sensitive and valuable. Custodians will need to implement appropriate security measures to protect healthcare data from cyberattacks and other data breaches. They will also need to have policies and procedures in place to govern the sharing of healthcare data.

Arbitrageurs will continue to rely on information and labor-arbitrage models to build digital experiences that make healthcare more accessible and affordable. For example, arbitrageurs are developing platforms that allow patients to compare prices and services from different providers, or connect with healthcare providers in other countries. Arbitrageurs are also developing platforms that use AI to help patients navigate the healthcare system and find the best care for their needs.

Overall, innovators, enablers, custodians, and arbitrageurs will all play key roles in shaping the future of healthcare. By working together, they can help to create a healthcare system that is more efficient, effective, and accessible to everyone.

In addition to the above, here are some other specific ways that innovators, enablers, custodians, and arbitrageurs can contribute to the future of healthcare:

Innovators can develop new technologies to help prevent diseases, improve early detection, and deliver more personalised and effective treatments.
Enablers can build the infrastructure and tools that healthcare providers, researchers, and insurers need to access and analyse large amounts of data to improve decision-making and outcomes.
Custodians can ensure that healthcare data is collected, stored, and shared in a secure and ethical manner, while also making it accessible to those who need it to improve healthcare.
Arbitrageurs can develop new ways to make healthcare more affordable and accessible to everyone, including those in underserved communities.

By working together, these four groups can play a major role in creating a better healthcare future for everyone.