getty One of the foundational challenges when adopting digital healthcare technologies is whether to build a custom solution to fulfill a specific need or to buy an existing product that can be adapted as a turnkey solution. Healthcare leaders driving digital innovation must be responsible for fiscally sound results, and a myriad of factors go into making the build-versus-buy decision. Two of the prime factors, for example, are time-to-market and economics. While these can be interdependent, let’s look at each. The Intent With digital transformation projects, there are multiple challenges to overcome—such as examining the cost of research and development, licensing fees, total investment costs, etc.—before making revenue. If the goal is to develop a digital biomarker or algorithm for respiratory disease detection, a company must find a sensor and then complete the sensor integration, management and signal processing. With all of the considerations that must go into digital healthcare innovation, companies are essentially left with three options: 1. License a software platform from an existing source. 2. Build a platform using internal resources. 3. Outsource software development to a third-party software development company to build according to your specifications. The third option has been more popular but can […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
