Timmeko Moore Love, a business-development manager at Mayo Clinic Ventures, who also spent six years as a principal at Best Buy Capital, tells MedCity News’s Chris Seper that “digital health entrepreneurs incorrectly assume consumer-driven healthcare means they can leap-frog a traditional healthcare business model and get consumers to pay for their products.”
“That won’t work, Love said. Instead, healthcare startups need to figure out how to replicate the viral nature of consumer products.
“’It’s that stickiness factor,’ Love said. ‘That is part of consumer tech. You create a sticky consumer experience, you’ve delighted the customer, they tell friends and that leverages network effects and the product goes viral.”’
“There need to be solutions for well-being for people who are well,. How can we design compelling solutions that help people maintain their health and stay informed? Those are things that are missing.”