Formstack recently teamed up with other local healthcare tech leaders for a 60-minute Q&A panel on the future of healthcare technology in Indianapolis. Piggybacking on success with HIPAA compliant online forms, Formstack hosted the collaborative event to get to know like-minded local companies looking to streamline the delivery of healthcare through technology.The panel was well-received and created a springboard for great conversation around healthcare tech in the Circle City. If you weren’t able to attend, here’s what you missed:
The healthcare tech event took place at The Speak Easy Downtown, a recently-opened coworking and event space in the heart of Indianapolis.
Around 50 health tech influencers gathered for the panel discussion and hung around for refreshments and networking.
The discussion was moderated by Formstack’s Chief of Staff Andrew Clark and included input from three panelists who are well-versed in healthcare technology leadership:
Formstack entered the healthcare space in 2016 with its HIPAA compliant form product. Healthx is the healthcare industry’s leading digital engagement platform for connecting payers, providers, consumers, employers, and brokers. And Springbuk is the leading health intelligence platform for employers. All companies represented are based in Indianapolis.
The panel kicked off an informative discussion around the state of the healthcare tech industry in Indianapolis. Some of the key points of conversation included:
- The panelists’ individual successes and challenges with their health tech solutions
- Indiana as a leader in healthcare technology innovation
- Healthcare consumerism
- Accessibility of healthcare data
- Key healthcare industry shifts
Indiana as a Leader in Healthcare Technology Innovation
To jumpstart the conversation, the panelists took some time to discuss why Indiana is a great place to create a healthcare technology hub. According to Reasen, “In our state, we have IHIE (Indiana Health Information Exchange), so we have this massive amount of data—one of the largest data repositories in the Union. We have one of the largest insurers in the Union with Anthem. And we also have a very large hospital system in IU Health. So Indiana is a logical place for healthcare tech to be taking off.”
Byers added, “Software, in general, has exploded in Indianapolis, along with the use of software to create innovation. So the fact that we already have a group of people thinking about solving interesting problems around other things—marketing, sales, etc.—means this is a great place to be because we can take all the things we’ve learned as a state around those problems and move that into healthcare.”
Key Healthcare Industry Shifts
The panelists also spent several minutes discussing key shifts in the healthcare industry and the role technology is playing in those shifts. Millay said, “A significant change going on in healthcare is the move to consumerism. We, as individuals, are demanding things from that industry that we previously haven’t because we want experiences similar to what we’re having in other industries. That is forcing the industry to become more consumer-oriented. At the same time, the industry is shifting from a fee-for-service model to a value-based reimbursement model; in other words, healthcare providers are being paid on the actual outcome not just on the fact that there was a visit. So you put those two together, and there’s going to be a requirement for collaboration among patients, providers, and health insurance companies to manage individual healthcare. Technology will enable that collaboration.”
Reasen added, “In March 2015, the Millennial generation surpassed the Baby Boomer generation to be the largest segment of the working population. So now you have two major things happening: Technology has infiltrated our lives, and you have a whole new generation that’s okay with it.”Millay also spoke about a vision for a holistic approach to optimizing individual health: “The industry is moving from dealing with certain health issues to optimizing health. The attitude is changing to ‘We, collectively, want to optimize your health, not just take care of issues you have.’ That will force transparency and consistency of data over time.”
Those are just a few highlights from the event. Thanks to everyone who took time out of their evening to attend our Innovations in Healthcare Technologies Leadership Panel. We hope you enjoyed the engaging discussion! If you're interested in learning more about Formstack's specific healthcare solutions, click here.