To what extent is the rise of HealthTech truly bridging the healthcare gap for lower-income populations, and how much of it is being driven by market forces that prioritise profitability over equitable access? I ask three experts for their thoughts on the morality and true intentions of the industry.
Jason Alan Snyder, Advisor, Inventor and Founder at SuperTruth
The HealthTech sector sits at a crucial crossroads. On one side, we have a wave of innovation promising to reshape healthcare delivery in previously unimaginable ways. Conversely, the harsh reality is that profitability is often prioritised over equitable access.
For many companies, the gravitational pull of profit remains strong. It’s not inherently wrong for businesses to seek a return on their investments. Still, lower-income populations inevitably get left behind when market forces drive health primarily toward those already well-served—those with insurance, financial resources and digital connectivity.
We need a balance that combines the advancement of technology with the broader mission of serving everyone, regardless of socioeconomic status.
To what extent is the rise of HealthTech truly bridging the healthcare gap for lower-income populations?
The transformative potential of HealthTech to bridge healthcare gaps is clear, yet that potential still needs to be fully realised. Yes, telemedicine has extended access to underserved communities, and AI-driven diagnostics are streamlining care, but the infrastructure required to make these tools genuinely effective isn’t reaching everyone.
The ‘digital divide’ continues to be a significant barrier—particularly for lower-income populations who may not have the reliable Internet or devices necessary to engage with these platforms. So, while the technology exists to close gaps, the deployment is often uneven, and without targeted efforts to democratise access, we risk reinforcing the disparities HealthTech should be eliminating.
How much of it is driven by market forces that prioritise profitability over equitable access?
There’s no denying that market forces are a significant driver in the HealthTech ecosystem. Profitability attracts investment, which fuels innovation—but it also directs that innovation towards areas with the highest potential for financial return. This means that much of the focus has been on affluent, insured markets rather than creating solutions serving all demographics.
However, some pioneering efforts prove it’s possible to build profitable models around equitable access, significantly when technology can drive down costs at scale. The future of HealthTech shouldn’t just be about the next breakthrough; it should be about breakthroughs that reach everyone, regardless of their ZIP code or income bracket. We must shift how we define success in this space—where financial gain and social impact are not mutually exclusive but intentionally joined.
Dr Maria Knobel, the Medical Director of Medical Cert UK
The rise of HealthTech has undeniably made a positive impact on healthcare access, particularly for lower-income populations. Telemedicine platforms, for example, allow individuals to consult with healthcare professionals from the comfort of their homes, removing the need for time-consuming and often costly trips to a clinic or hospital.
This convenience is especially beneficial for those living in rural or underserved areas where healthcare facilities may be sparse or non-existent. Moreover, digital health records and mobile health applications enable patients to keep track of their medical history, medications and appointments more efficiently. These tools can lead to better management of chronic conditions and reduce the need for emergency care, which can be both expensive and difficult to access.
However, the extent to which HealthTech is bridging the healthcare gap is tempered by several significant limitations. One major issue is the digital divide, which affects many lower-income individuals who may lack access to smartphones, computers or reliable internet connections. For these populations, the benefits of HealthTech remain out of reach, as they are unable to fully participate in telehealth services or use health management apps.
This disparity creates a situation where advancements in healthcare technology can inadvertently widen the gap between those who can afford these services and those who cannot. Moreover, while some health tech services are designed to be low-cost or even free, others can be prohibitively expensive, especially if they involve specialised equipment or subscriptions.
How much of it is driven by market forces that prioritise profitability over equitable access?
HealthTech companies, like any other businesses, operate within a competitive environment where financial performance is critical. This market pressure can influence several aspects of how HealthTech solutions are developed and made available.
One major way that market forces impact health tech is through the prioritisation of features and services that attract higher-paying customers. Companies may focus on developing premium products or advanced features that appeal to wealthier individuals or healthcare institutions with substantial budgets.
This focus can lead to a concentration of resources and innovation in areas that are financially lucrative, rather than in those that address the most pressing needs of lower-income populations. For example, sophisticated diagnostic tools or specialised telemedicine services might be developed and marketed towards affluent customers or high-end healthcare providers, while more basic, affordable solutions remain underdeveloped.
Moreover, the profitability-driven model can lead to high costs for certain HealthTech services. While some platforms offer low-cost or free services, others might have significant price tags associated with them, including subscription fees or charges for advanced features. These costs can be prohibitive for individuals in lower-income brackets, effectively limiting their access to these technologies. Even when HealthTech services are designed to be affordable, they may still require access to high-speed internet or advanced devices, which can be out of reach for many.
Tom Terronez, Owner and CEO of Medix Dental IT
It’s important to acknowledge that, broadly speaking, the HealthTech industry does indeed prioritise profitability over equitable access. This is not necessarily due to a lack of concern for equity, but rather a reflection of the market-driven ecosystem in which these companies operate. As an executive who has worked closely with health systems for years, I’ve observed that core budgets are rarely allocated to initiatives specifically targeting equitable access unless there are external incentives or grant funding available.
This prioritisation of profitability is not inherently negative; it drives innovation and enables companies to scale their solutions. However, it does create a tension with the goal of bridging healthcare gaps for lower-income populations. The challenge lies in finding a balance between these competing priorities.
That being said, it would be inaccurate to paint the entire HealthTech industry with a broad brush. There are indeed companies and platforms emerging that place a strong emphasis on equitable access. For instance, Zócalo Health is building a technology-enabled health service specifically designed to address healthcare disparities in underserved Latino communities. Such initiatives demonstrate that it is possible to create sustainable business models while prioritising equity.
Telehealth platforms have made significant strides in improving access to healthcare services, particularly in rural or underserved areas. The COVID-19 pandemic accelerated the adoption of these technologies, bringing care to populations that previously faced geographical barriers. However, it’s crucial to note that technology alone is not a panacea. The workforce behind these platforms often lacks the cultural competence and specific experience needed to effectively serve underserved communities. This highlights the need for comprehensive approaches that combine technological solutions with targeted training and community engagement.
In my years of experience, I’ve come to understand that technology has the potential to be a great equaliser in healthcare. However, this potential can only be realised if equitable access is prioritised in the design, implementation and scaling of these solutions. Unfortunately, we often see a disconnect between the technological capabilities and the resources allocated to ensure these tools reach and effectively serve all populations.
Market forces undeniably play a significant role in shaping the HealthTech landscape. Investors and stakeholders naturally seek returns on their investments, which can sometimes lead to a focus on more lucrative market segments at the expense of underserved populations. However, I believe there’s a growing recognition that addressing healthcare disparities is not just a moral imperative but also a long-term business opportunity. As value-based care models gain traction, there’s increasing alignment between improving health outcomes for underserved populations and financial incentives for healthcare providers and technology companies.
It’s also worth noting that policy and regulation play a crucial role in this ecosystem. Government initiatives, such as the promotion of interoperability standards and the expansion of reimbursement for digital health services, can help create a more level playing field and incentivise HealthTech companies to focus on equitable access.
In conclusion, while it’s true that profitability often takes precedence over equitable access in the HealthTech industry, I believe we’re at a turning point. The increasing recognition of healthcare disparities, coupled with evolving payment models and policy initiatives, is creating an environment where addressing equity is becoming both a moral and business imperative.
The key lies in fostering partnerships between technology companies, healthcare providers, community organisations and policymakers to ensure that innovative solutions are designed and implemented with equity at their core.
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