Technology

The next decade for healthtech may look a lot like the last decade for fintech – TechCrunch

After 2008 The financial crisis opened the floodgates for a wave of fintech companies that have become household names over the past decade, with a raft of new regulations designed to protect consumers and businesses. Now it could be the healthcare sector’s turn.

Part of the Dodd-Frank Wall Street Consumer Reform and Protection Act, passed in 2010, requires financial institutions to provide consumers with electronic access to their financial information for either personal use or the use of others. This regulation is why we can link our bank accounts to Venmo or Zelle to send money to our friends, or why Stripe and Plaid have been able to revolutionize the payment infrastructure for so many businesses.

Now healthcare is seeing its own regulatory catalyst. The 21st Century Cures Act, passed in 2016 and set to take effect this year, outlines guidelines for information sharing, API standardization, and the national infrastructure for sharing this type of information. Increasing innovation in healthcare is listed as one of the goals of the law.

The question is, will healthcare startups embrace these regulatory guidelines with the same passion that fintech founders have had over the past decade?

https://techcrunch.com/2022/07/15/the-next-decade-for-healthtech-may-look-a-lot-like-the-last-decade-for-fintech/ The next decade for healthtech may look a lot like the last decade for fintech – TechCrunch

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