December 20209device, these companies address the broader market opportunity by answering the questions: How can I provide value to the end consumer? What information, tools, and services can I equip them with to help them better manager their personal health conditions?Our 7wireVentures'portfolio company, Livongo, pioneered this model. Livongo is the market leader in Applied Health Signals, leveraging connected medical devices, including glucometers, blood pressure cuffs, and digital scales to continuously collect data, remotely monitor consumers, and help them manage their chronic conditions. To further empower the consumer to take control of their health, Livongo also provides a companion application, personalized insights, and access to 24/7 coaching support.A similar use case can be found with 7wireVentures' portfolio company, Clarify Medical, which enables consumers to self-manage and treat chronic skin conditions like psoriasis and vitiligo using UVB phototherapy from the comfort of their homes through a connected handheld device. The device syncs with a smartphone to monitor dosing and duration of treatment, remotely share data with the patients' provider, and enable care partners to intervene when necessary to drive treatment adherence.One final platform solution serving consumers with chronic health needs is Aire Health, which offers a connected portable nebulizer for the treatment of respiratory disorders, such as asthma. The company's device connects to a mobile app to enable consumers to predict and monitor their respiratory triggers and symptoms, as well as pre-program regular medication reminders. There are a few lessons we can draw from these examples. The first is that companies can meaningfully enhance the functionality of medical devices by pairing tech-enabled services to create more wholistic care solutions. Livongo has delivered significant value toits customers by providing an ecosystem of digital tools and services that help consumers live healthier lives. The second is the importance of collecting and utilizing data. Connected devices are a near endless source of valuable longitudinal health data and leveraging that data to drive actionable insights for consumers is a great way to deliver personalized, real-time care. The third is the value of understanding consumer needs and applying human-centered design principles in the early stages of product development. For both Clarify and Aire Health, the companies knew that making the devices portable and easy-to-use would increase adoption by allowing consumers to easily fit their treatment protocols into their busy schedules. Not every medical device lends itself to becoming a full fledged digital health business. But understanding how your product creates value for consumers and identifying ways to supplement that value through wraparound services and data driven insights is a powerful way for founders to maximize their company's potential. Understanding how your product creates value for consumers and identifying ways to supplement that value through wraparound services and data driven insights is a powerful way for founders to maximize their company's potential
< Page 8 | Page 10 >