Parks Associates: Insurers and Consumers Spend More Than $50 Billion a Year on Home Health Services
International research firm Parks Associates announced new connected health research today showing that insurers and U.S. consumers spend more than $50 billion per year on home health services. Innovators Redrawing the Healthcare Landscape shows most spending is on visiting nurse services that include home rehabilitation, skilled nursing, chronic therapy services, and hospice and palliative care.
Parks Associates will host a panel of digital health investors, market incubators, and program directors at the fourth-annual Connected Health Summit: Engaging Consumers, August 29-31 in San Diego, California, to examine new innovations targeting this market. The panel will include a pitch session, similar to the TV show Shark Tank, where connected health startups present their business strategies to a panel of investors and market experts. The panel of investors will provide feedback on these innovations along with insights into the investment climate and future trends for the connected health market.
“Venture funding of connected health startups regained momentum in the second half of 2016,” said Harry Wang, Senior Director of Research, Parks Associates. “Startup Health, a connected health incubator, reported over $8 billion in venture funding in almost 600 startups in 2016, up from $5.8 billion in 2015.”