5 Indispensable Tools For Growing Healthcare Startups

October 1, 2016

2:30 pm

The healthcare business is on the upswing. Proof of this can be seen in the increasing willingness of investors to put their money towards startups that are poised to use technology and innovation to make new inroads into research and patient care.

While this is great, investment funds are just one thing that healthcare startups need to grow. They also need the right tools. Here are five tools that any healthcare industry entrepreneur should seriously consider.

ContractWorks

The healthcare industry is one in which legalities are extremely important. Because of this, it is extremely important to create, maintain, and track contracts with vendors, employees, investors, and others. Solid contract management methodologies also help health tech companies to protect valuable intellectual property rights, and protect themselves from liability. ContractWorks is an all in one solution that provides entrepreneurs the means to deal with contracts automatically. This means more time to spend working on innovative healthcare solutions.

Dimensional Insight

Diver is a BI solution that is ideal for many healthcare startups. Probably the best asset is the tool’s ability to provide single view data integration. In addition to this, the tool can access data from a variety of sources, synthesizing this data, and modeling it in real time. As a result, complicated hierarchies are eliminated. This makes data discover less expensive. Because most startups don’t have the funds to warehouse data or cover the associated costs of doing so, this is a great business intelligence solution for healthcare brands that are just getting off of the ground.

Bench

The most successful healthcare technology startups are the ones who focus on their mission. This means outsourcing tasks when necessary, and using tools to handle things that are not mission critical. Bench is an online bookkeeping tool. Using this tool allows startups to automate their financial management tasks. This allows entrepreneurs to leverage their limited time and resources for creating technology that serves patients, disrupts the status quo, and encourages industry-wide innovation.

Explorys

This IBM-based solution provides a cloud-based platform that mines healthcare provider data for details that often remains unseen when that information is viewed from an operational perspective. Users can access this data to conduct performance analyses, track trends among patient databases, and access and coordinate patient registries. The purpose of all of this tool is a means testing way of proving that solutions can lower costs or improve customer care.

Any healthcare startups that provide services directly to consumers or that work in partnership with healthcare providers can certainly benefit from adding this solution to their arsenal.

Dashlane

Effective password management solutions are important for any business. When it comes to healthcare startups, the stakes are even higher. There is no room for low-strength passwords in this space when liabilities are so high. This is why it is even more important for entrepreneurs to ensure that their data is kept secure and that access to that data is managed by a tool like Dashlane. Users can benefit from the convenience of a password management system while still feeling confident about data integrity.

There is no business area in which there is more opportunity to create both innovation and revolution than healthcare. We already know that investors are eager to lay out good money for startups that are poised to use technology to create new solutions in the healthcare industry. This, combined with a great suite of tech tools and apps, can put any talented healthcare startup team on the road to profit and success.

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Dianna is a former ESL teacher and World Teach volunteer, currently living in France. She’s slightly addicted to apps and viral media trends and helps different companies with product localization and content strategies. You can tweet her at @dilabrien

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