“In order to implement technologies that positively impact women’s health, we need accurate and high-quality data on women-only issues such as contraception, fertility, maternal health, gynecology, menopause and women’s oncology and general health conditions. Such as Alzheimer’s, cardiovascular conditions, such as autoimmune diseases, migraines, and osteoporosis, are commonly known or studied,” says Solinsky.
She explained that innovation is based on representation, which means transparency and clinical trials where groups get early access to interventions are essential. However, Solinsky hopes to gather opportunities to use digital health tools Non-identifiable patient data Research for real world evidence.
“Also, new research sites are being developed, such as at-home, tech-based testing and testing for a wide variety of acute and chronic women’s health conditions, which will contribute to more diverse, patient-generated health data and support the future of personalized care,” she says.
Hiring a FemTech or Health IT consultant can help healthcare organizations identify the right solutions from companies that can meet their needs.
Addressing patient data privacy in women’s digital health
Many femtech companies have increased their data privacy efforts The US Supreme Court’s Roe v. Wade decision in June. While data privacy is always a concern, the court’s ruling has upended Femtech companies that collect patient data about menstrual cycles, as well as other data related to pregnancy and abortion.
“The decision opens the door to legal problems for women seeking abortions in many states. “There is a serious concern that information on women’s health apps related to abortion or even the menstrual cycle could be subpoenaed and criminally prosecuted,” says Solinsky.
Many femtech companies are underfunded, which means most app privacy policies are “cookie-cutter,” Barreto said.
“If they had the resources, they could have great privacy policies,” she says. However, “generally, regardless of policy, law enforcement may subpoena information.
While Femtech companies are working to address the issue, she advises them to refrain from posting Facebook messages about their period or related issues. Those concerned about having their information shared can contact Femtech companies to inquire about their privacy policies.
Solinski worries that investors and stakeholders will see data privacy concerns as a barrier to early stage femtech companies looking to scale across jurisdictions.
“I still see encouraging support from the investment community,” she says.
While femtech companies will find ways to further protect patient data while addressing policy changes, Solinski says, proper data collection will enable accurate diagnosis, better care delivery and more comprehensive research, in addition to reducing the overall cost of care.
The future of Femtech in healthcare
The definition of Femtech is still evolving. Much more investment in research and innovation is needed to fully understand and address this complex area of digital health, says Solinski.
“Women make up and cover half of the population 80 percent of consumer purchasing decisions in the healthcare industryBut the Femtech companies only accepted 3 percent of the total digital health fund since 2011,” she says. “Femtech is by no means a market.
Barreto says it’s important to look at the FemTech ecosystem from a second perspective to identify areas that are severely oversaturated or underrepresented. It is a heart disease Number 1 killer of womenBut Barreto notes that there are a few femtech companies focused specifically on heart disease. And while there are dozens of menstrual-focused FemTech solutions, “Poverty of time” Still a big problem in the U.S. Historically, the lack of billing codes for women’s health solutions has forced femtech startups to focus on direct-to-consumer products, which are often expensive. This has resulted in solutions designed for wealthy white women who can afford them, rather than solutions focused on improving health equity for all.
Solinsky envisions the future of FemTech to encompass the full range of health needs of cisgender women and those who identify as transgender or non-binary. Another impact of the pandemic is that it has created many disparities in access and care in health care, leaving many hungry for change.
“Innovators are seizing the moment to reimagine a simpler healthcare future; Personalized, proportional and flexible; This is the transformative role that technology plays,” says Solinsky. “Equally determined FemTech innovators can credit the macro shifts in public attitudes that have occurred over the years for simplifying women’s sexual and reproductive care and paving the way for their ideas. That is why it is so important to give Femtech a name and reputation in investment circles. We must remember that health is human; To change health care, we must first change the mind. Words and language have a real impact on what is possible.