The explosion of mobile health apps has created an mHealth glut. mHealth executives have sought to find ways to provide value and differentiation as the healthcare market shifts from physician to the patient empowerment.
With the convergence of three factors:
With these factors the mHealth market space will only become more competitive.
But how do you set apart your mobile health application in a crowded field?
The democratization of healthcare is enabled by the combination of mobile devices and healthcare applications.
Demand by consumers to take control of their health by minimize healthcare costs, being better informed on the choices that affect their health, improving fitness and addressing specific chronic conditions are key industry drivers.
With increasing global competition C-suite executives are concerned with monetizing their application.
Fitness apps remain the largest segment of the industry mainly because it has the largest potential market. But this is a double-edged sword with these apps being fiercely competitive. Similar to the weight loss market on the internet, fitness is one of the most savagely fought over ecommerce market. Pursuit of the health/fitness app space can have comparable impediments with many players vying for market share.
Like the many treadmills that are collecting dust in the basements of well-intended health-conscious consumers, health and fitness apps can have the tendency of falling into disuse after the novelty wears off–much to the dismay of app developers.
In an increasingly social-media driven market, where word-of-mouth and online reviews can make or break a brand, an underutilized can result in criticism for mHealth brands in social media circles.
With over 400,000 flavors the downloadable mHealth apps available the space is rapidly being commoditized.
As mHealth evolves beyond downloadable apps to full-blown medical devices, there are opportunities to offer high-value services and solutions that can create separation from the crowded field.
The use of advanced technologies as wearable sensors, and other add-ons that can perform point-of-use tests for heart monitoring, blood oxygen, insulin levels and testing for an array of disease states are moving into the market.
Taking this power and integrating it with EMR, cloud storage, continuous remote monitoring, breaks open the possibilities for real disruptive innovation and massive value to health providers and consumers.
Entering into this world carries with it a whole host of challenges, financial costs, demand for specific leaderships skills and industry know how. Some companies have tried to shortcut the process with limited results.
Integration of discrete technologies into a new platform takes expertise, market vision, creativity and hard-won experience that are rare and difficult to find.
Finding creative, innovative, insightful executive leaders can be the difference in organizational excellence.
Companies evolve and have their own life cycle. The skills required at one stage of growth will be different than another. When leadership looks to grow rapidly, move up to the next tier or reinvent the organization’s mission, the organization’s talent can be the key ingredient.
Stakeholders with a vested interest in the success of their mHealth organization seek to maximize their company’s value. The use of executive search can be a strategic tool to help to reach your goals. Leveraging the power of search can put you in the best possible position to succeed by controlling the quality of the leadership that enters the organization.
The process of searching for specific and rare skills, can be time consuming when done in house. If performing a deep and thorough industry search is not your core competency then the process of discovering and recruiting can consume time and dilute the organizational focus.
How will executive recruitment add value?
We help leaders of mHealth companies “level up” their game by bringing you effective talent. Effective talent means finding and recruiting those individuals who can make a measurable impact on the company. That impact may be in the form of raising capital for the next wave of expansion, developing new intellectual property, leading new product innovation, creating go-to-market strategies and their execution and more.
How is this the done?
Within the mobile health arena, the types of positions we fill would include C-level, VP and Director levels, such as:
It is essential to understand that the process of recruiting executives has changed. The process of leveraging technology makes it possible to be able to identify the universe of candidates in this field. As a specialist in the market mapping the “known universe” of candidates is accomplished with access to tools and technology. This is the science of the business.
Today with the internet, social media and the tools to mine this information, there is no one who cannot be reached. However, experience has shown that is it not enough to be able to access a large number of qualified candidates in a defined market. The real differentiator is developing a persuasive narrative–a story that will compel A-list talent to engage. This is the art of the business.
Combining the art and science of executive recruitment yields repeatable and consistent results.
We offer a short discovery session to explore your specific situation to look at where you are and where you want to go. From our discussion we dig onto where the talent gap may be and go into the nuance of the technical, business and cultural skills needed that when hired will help you and your organization prosper.
Call or email us today to take the next step.
