Raghav Sharma

Unlocking the potential of UK HealthTech: Key findings > The HealthTech sector is a key sector for the UK, with growth potential The HealthTech sector is a significant contributor to the UK economy with an annual turnover of £34 billion in 2022 and offering employment to more than 150,000 professionals. In a recent report by Imperial College London, the sector Gross Value Added showed a 19% compound annual growth rate between 2016-2020 for MedTech (which adopts a narrower definition than HealthTech). > The UK is a net importer of HealthTech products and services According to the Medicines and Healthcare products Regulatory Agency (“MHRA”), there are approximately 2 million products registered for use on the UK market. The UK is a net importer of HealthTech, exporting over £5 billion worth products and services annually, and importing around £7.5 billion of HealthTech products. > The geographical spread of the UK HealthTech sector goes beyond London and the Golden Triangle The Golden Triangle, encompassing London, Oxford (South East), and Cambridge (East of England), is undeniably a prominent hub for research and development in the field of life sciences and medicine. It boasts five universities ranked among the world's top twenty-five, alongside some of the globe's largest research institutions, including the Sanger Centre, the Francis Crick Institute, and Research Complex at Harwell. https://lnkd.in/e82nQJEE

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HealthTech startups and NHS adoption strategies. Here's a problem keeping many HealthTech founders up at night. The fragmented nature of the healthcare innovation landscape. Siloed research, bureaucratic hurdles, and unclear pathways to adoption stifle the translation of brilliant ideas into real-world impact. Can the recently announced NIHR HealthTech Research Centre Network help?. Faster Innovation Cycles The Network fosters collaboration between research centers, the NHS, and industry. This means streamlined access to expertise, data, and testing grounds, accelerating your product development and validation processes. Clearer Pathway to Adoption The Network acts as a bridge between innovators and decision-makers. By understanding the NHS's needs and priorities, you can tailor your solutions for a smoother path to adoption within the healthcare system. Enhanced Credibility Partnering with the Network lends credibility to your technology. This can be invaluable when attracting investors, forging strategic partnerships, and securing valuable pilot programs. So Why Does This Matter? The Network Effect for Growth Will this remove roadblocks, foster collaboration, and streamline the path from concept to real-world impact? What would you add? Found this useful? Repost ♻️ to help your network. Join a community of 85,600+ HealthTech leaders finding the ideas, people, innovations and technologies that are shaping the future of healthcare. 👉 http://lnkd.in/eExMcaG6

Health and #medtech industry leaders are assessing the implications of a £22.6 billion uplift in funding for the NHS this year and next, and a £3.4 billion boost for capital spending next year: https://lnkd.in/eAJ7KDZ2 #healthtech #budget24

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Check out what our very own Jonathan Hinchliffe has to say about the Autumn Budget in Health Tech World's latest article! 👇 #HealthTech #AutumnBudget #Budget #Healthcare #NHS

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🫵🏽Do you know a big problem I've seen in SAAS digital health/health tech companies? 🤑They get 'in' to an organisation and get paid (so far so good) with recurring billing set. 🖱️They download their software onto the desktops of that organisation (so what's the problem?). 👻Then they disappear and leave and expect healthcare organisations to optimise its use to figure out how to get the ROI from their product. ✒️The big problem here is that unless organisations nail how to get the ROI, the subscription is only going to last as long as the contract (months to a year - i.e. not a sustainable business longer term). 📞The big trick missing is to really 'embed' and follow up with organisations using these products. Customer account managers (or whoever it is) really need to understand if the customer is getting the ROI they wanted from the product. If NOT, the digital health/tech company WILL need to go beyond scope a little and do some 'ops' work and suggest pathway changes etc. 👉🏽Healthcare organisations want MUST HAVES (i.e. saves or makes money), not NICE HAVES. Otherwise you may well lose a customer at the end of what you think is a recurring contract, but isn't. Do you agree? Have you seen similar? #digitalhealth #healthtech Dr. Zhong Wei Khor Dr Wiktor Szczudlinski Pilar Fernandez Hermida Liam Cahill Vijay K. Luthra

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In a new series of Digital Health Intelligence Market Analysis, HealthTech Founder and M&A Advisor Lloyd Price examines a range of high potential market segments in the UK, including: 1. Virtual Care – From Hype to Reality 2. Patient Engagement Platforms – Rebuilding Trust in the NHS 3. Population Health – from Reactive Care to Proactive Prevention 4. Digital Therapeutics – looking forward to a year of growth 5. AI in Clinical Imaging – shaping the future of healthcare 6. Electronic Bed and Capacity Management Systems - crucial support for an NHS under pressure 7. Shared Care Records - a time of transition and expansion 8. Medical Device Cyber Security - protecting the delivery of care Digital Health Intelligence Market Analysis - from identifying high value market segments to sales prospecting, Intelligence supports multiple teams with essential insights and reliable, granular-level data on NHS acute and mental health trusts, central bodies, STPs, ICSs and commissioning organisations. Digital Health Intelligence is the 'Trusted Authority on Digital Health' in the UK - Subscribe Today! https://lnkd.in/e8ZVAdGT

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Our UK Head of HealthTech, Dominick Kennerson, has authored a short report on the challenges UK HealthTech businesses face as they move through the funding pipeline. Unlike other sectors and geographies, the stats point to a funding drop off that UK HealthTech companies have to navigate after their Series A. The report explores what makes the UK path to scaling different, from our smaller market size to universal healthcare under the NHS. Read his commentary and download the full report here: https://grp.hsbc/6044cUopw #Innovation #Funding #SeriesA #SeriesB #HealthTech #MedTech

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Read our latest blog by our Project Manager, Jo Hammond

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AI seems to be everywhere. The Labour government is relying on 'digital tech' to transform the NHS. But outside of the big tech companies such as Google, Apple, Meta etc who are currently focusing on integrations with their existing services, how will this filter down to real-life applications for the average person? For many people, the talk of AI is still a fairly abstract concept. One useful example, 'Olivia' has been launched by Tempus AI and in their own words: "Olivia is an AI-enabled personal health concierge to empower individuals to holistically organize, manage, and proactively take control of their own health data. Olivia, which is currently only available to beta users, leverages generative AI to provide patients and their caregivers personal, concierge-style support in managing their health". If you want to find out more about Olivia, you can read a post by CEO Eric Lefkofsky where he shares the background and motivation for Olivia: it's well worth a 5-minute read. https://lnkd.in/gUmdcFEP

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Last week the Office for Life Sciences (OLS) published a report, ‘Unlocking the potential of UK HealthTech’ (delivered by KPMG), seeking to better understand the economic footprint of the industry: https://lnkd.in/eN8cbpK6 It’s great to see OLS recognise that current definitions and approaches don’t necessarily reflect the reality and rapidly evolving nature of the health tech market. Some interesting findings from the report include: 👩‍💻 A formal redefinition of UK HealthTech is required to encapsulate emerging technologies and reduce ambiguity surrounding what does and does not constitute HealthTech activity. 👩‍💻 There is a lack of granular information pertaining to healthtech SMEs available to the public. 👩‍💻  Due to the rapid pace of technological change in the UK HealthTech sector, it would be valuable to conduct an annual assessment of the HealthTech innovation ecosystem. 👩‍💻 Access to this information would better allow government to optimise innovation within the sector, monitor the impact of technological changes, and ensure that interventions are appropriately directed toward addressing the health care sector’s current challenges. These findings, among others in the report, will ring true for people in the digital health ecosystem. Definitions of 'health tech' vary across the NHS and the UK more broadly, often meaning people talk at cross-purposes. The health tech sector will play a critical role in delivering the government’s health mission. A detailed understanding of the health of this market in the UK, including a segmentation of the sector according to the type of digital health tool provided, will be key to determining how it is best placed to help.   The Health Foundation #healthtech #digitalhealth

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💼💡 A report by the Association of British HealthTech Industries (ABHI) and Imperial College London reveals that the UK HealthTech sector is on the brink of a massive transformation. Over the next 5 years, the country will see a 50% increase in HealthTech R&D spending and the creation of 50,000 skilled jobs. The sector, often referred to as a hidden gem, already contributes £13 billion in gross value added (GVA), matching the UK’s powerful biopharma industry. 🔍 What’s Holding the Sector Back?  Despite this incredible potential, the report highlights several barriers to growth, including: -Capital shortages affecting innovation and scale. -Skills gaps, with an urgent need for more qualified professionals. -Brexit uncertainties that create additional challenges for regulatory alignment and market access. 📈 A Path to Success  To unlock this sector’s full potential, the report lays out several key proposals: +Recognition of Regulatory Approvals. Aligning with the US FDA, EU, and other trusted jurisdictions will encourage investments in UK clinical trials and bring advanced health solutions to market faster. +R&D Investment Incentives. Tax reforms are crucial to incentivize businesses to increase their R&D spending in HealthTech. +Expanding International Reach.: Expanding the ABHI’s international accelerator program will help UK HealthTech companies scale globally and boost exports. The report also projects a doubling of GVA within the next 10 years if these strategies are successfully implemented. This isn’t just about technology – it’s about creating a healthier, wealthier, and more innovative future. 🌍💪 #healthtech #ukinnovation #healthcaretransformation #futureofhealthtech #digitalhealth #smarthealth #medtech

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"One in four people die in the UK without access to the palliative care they need” - How do we change this ? 🚀 Discover how #GenAI is set to revolutionise healthcare across all ages with Agilisys' latest insights! From enhancing prenatal care to optimizing elderly support, #AI is paving the way for personalized, efficient #healthcare solutions:   Here's a glimpse into what AI could do : 👶 Birth: Customised maternity care strategies 🧒 Childhood: Addressing vaccine skepticism online 👧 Adolescence: Digital resources for youth mental health 👩‍⚕️ Adulthood: Optimizing outpatient services with AI 👱‍♂️ Middle Age: Advancing menopause detection 👵 Old Age: Enhancing experiences in virtual wards 💔 End of Life Care: Solutions for palliative care support   🔗 Click here to read more 👉 https://lnkd.in/ey4FKk_j and see how Agilisys can help your organization harness the power of #GenerativeAI.   #HealthcareInnovation #Technology #NHS #Innovation #Health

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In this article, QBR Editor Simon Ing explores how emerging technologies are primed to disrupt the healthcare sector. As demand for services grows in magnitude and complexity in response to an aging population, current healthcare infrastructure is not sufficient for effective treatment. Stakeholders throughout industry segments must strategically integrate advancements in remote patient monitoring and operational optimization to transform the status quo moving forward. https://lnkd.in/eDEvgxcH

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I get to speak to some incredible digital health innovators, here are some traits I have noticed the best teams have in common: 🗣️ They build a bilingual team that speaks tech and healthcare 🎯 They focus on fixing one problem well instead of building a platform that tries to do everything ❤️ They prioritise outcomes over technology 🤖 They own their tech and understand its unique value intricately ⏳ They have a sense of urgency 🐋 They focus their time selling into the whales of healthcare 💰 They manage financial health closely rather than pushing for growth at all costs 📊 They obsess with clinical outcome metrics 🏗️ They build for the long-term 🚀 They have a mission that is bigger than the product they are building Is there anything else you would add to this list?

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💘 Reading today that the Synnovis cyber attack on the #NHS earlier this year resulted in at "least 119 incidents of patient harm" was a chilling reminder of the importance of data protection and information security in this space. We covered a lot in our regulatory compliance session with the teams at the Health Foundry yesterday - some very exciting innovations are brewing and it was a pleasure to discuss how companies can follow best practice! Thank you for having us in 🙌 Assuric helps digital health companies of all sizes meet regulatory standard- keeping users and their information safe. 🫶If you have any doubts or questions about the data protection, clinical safety or technical security aspects of your health app, then reach out! Thanks again for having us in Natalie Brown! #compliance, #GDPR, #cybersecurity, #clinicalsafety

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Healthcare leaders raise concerns about cuts to AI funding Healthcare leaders are voicing concerns over the UK government's decision to cut £1.3 billion in funding for AI and technology projects. This move could hinder the development of AI tools that address urgent challenges in the health and care system. The potential loss of funding for AI research resource highlights the need for continued investment in AI infrastructure to maintain the UK's leadership in AI development and implementation. #AIinhealthcare #AIfunding #SacherAI https://lnkd.in/eDHmPchE

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We asked Elliott Engers what three things he loved most about working with Ostmodern... Check out the full interview where we talk about realities of #productdesign in #healthcare - https://lnkd.in/e2TVVRX6

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ABHI has launched their “The Plan for HealthTech” manifesto The manifesto represents the steps required to make the UK a #HealthTech global leader, with an actionable 10-point plan aimed at government, the NHS and regulators. Dive into the manifesto to discover how ABHI are planning to transform healthcare delivery through innovation and collaboration: https://lnkd.in/eYaFKgtp

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🚀 The ABHI UK HealthTech Conference 2024 will bring together industry leaders to tackle the most critical topics for HealthTech businesses. 🚀 Join us for two incredible days of invaluable insights and direct engagement with industry leaders as we explore crucial themes vital to the success of our sector. 👉 Day 1: Regulation - Dive deep into the regulatory landscape with insights from top experts. Understand the UK's upcoming framework and stay compliant with the latest requirements. 👉 Day 2: UK Market Access - Unlock the secrets to navigating the UK healthcare system. From NHS procurement strategies to pathways for technology adoption, discover how to succeed in this dynamic market. This is your chance to connect with an exceptional panel of industry experts and gain the knowledge you need to navigate the path forward in health technology. Secure your spot today! 🚀 https://lnkd.in/dahMnmKP Interested in more events that can aid your success in the HealthTech sector? ABHI members, stay informed by joining our newsletter: https://bit.ly/3FX69EY #UKHealthTechConference #HealthTech #Innovation #Healthcare #MarketAccess #Regulation

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