Global Digital Health Market

April 26, 2024

The Global Digital Health market is on a rapid rise, with projections indicating a staggering 255% annual growth between 2023 and 2032. 

This translates to a market size of $1.6 trillion by 2032, up from $217 billion in 2022. San Francisco, like many major cities post-pandemic, faces challenges with retail theft, drug use, and a rise in homeless encampments. However, the city is also experiencing a "work tech renaissance."  Remote work technology has empowered numerous companies to tap into a wider talent pool, offering a potential solution to these issues. 

Cities that foster a creative lifestyle balance, offer attractive work benefits, and cultivate innovation clusters become magnets for talent. These hubs attract skilled individuals from around the world, all eager to push boundaries and reach the next level.

This influx of talent creates a goldmine of opportunity for a wide range of businesses, from established companies like shoe manufacturers to cutting-edge suppliers in the silicon industry. 

As these talent hubs flourish, Liability Specialty Carriers will need to adapt. They must adjust their products and liability limits to effectively insure the investors and healthcare executives building these innovative organizations.

Niche sections within a city that is simultaneously:

  • Repurposing retail vacant buildings and converting commercial to residential to attract and keep residents downtown.
  • Cleaning up encampments.
  • Arresting drug dealers and increasing policing presence in difficult parts of the city. 

Despite these challenges, telehealth companies still want to be here. Talents are eager to work with other focused talents and like-minded individuals.

Sacramento-based Sutter Healthcare, the largest health system in Northern California, signed a seven-year lease for the 11,000-square-foot office space in January and opened its doors for employees this month.

Sutter is currently investing in Innovation Centers. These are the first designated physical spaces where providers, engineers, developers, and designers work with AI and tech professionals on digital health apps and remote monitoring programs. The intention is to bring health care into people’s homes and everyday lives.

Some of the engineers develop mobile apps to help patients monitor their vital signs, while others are working on home sensors capable of spotting worrisome patient movements.

Simultaneously, another group is experimenting with cutting-edge artificial intelligence.

The Doctors Insurance Agency (TDIA) is at the forefront of health tech innovation. 

We've strategically shifted our focus toward providing Insurance to the entire health tech landscape. Innovation hubs teeming with diverse technical talent across various sectors present exciting opportunities.  

TDIA is committed to providing comprehensive insurance solutions for these cutting-edge health tech models. Whether you're a healthcare organization pioneering new telehealth technologies or a company born from this dynamic environment, TDIA has you covered. 

We also specialize in insuring venture capital and private equity-backed healthcare organizations. 

Our commitment extends beyond insurance products. We have extensive marketing plans in these specialty areas.

The Doctors Insurance Agency attended its first American telemedicine association meeting in 2007 and obtained its first commitment as an appointed national agency specialist in 2009.

We learned at that first association meeting that providing a productive, sustainable, and effective Medical Professional Liability Insurance policy for telehealth organizations involves a bundled combination of liability limits. For 15 years we have worked with Telehealth organizations to properly insure the growing digital health care organization. 

The Doctors Insurance Agency provides professional liability insurance, business, and management liability, as well as Errors and Omissions Liability Insurance to healthcare startups born in this creative environment.

Here are some limits to consider:

  • A blanket physician provider endorsement.
  • A broad definition of insured that includes liability protection for advanced practice clinicians. (And other Allied healthcare professionals)
  • A definition of liability that responds to bodily injury claims caused by technology failures.
  • network security/cyber policy. 

We are a national brokerage, and our agents are carefully selected professional liability specialists dedicated to this healthcare field. 

We have accumulated over five thousand clients and five hundred facilities in all fifty states.

The Doctors Insurance Agency has invested years of experience in medical professional and aesthetic professional liability insurance.

Additionally, non-direct patient care service providers are catered to. 

Physicians sign contracts to provide independent evaluations, lending their credentials, experiences, training, and degrees to important medical opinions.

This work falls under the broad category of ‘administrative medicine,’ which requires a professional liability insurance policy, specifically designed for healthcare consultants – errors and omissions coverage. 

The Doctors Insurance Agency (TDIA) stays ahead of the healthcare curve by partnering with top carriers to provide comprehensive insurance solutions for telehealth organizations.

We are a national brokerage insuring many national or smaller interstate Telehealth Insurance Policies. Our insurance policies should cover the organization as well as all medical professionals involved.

TDIA is investing in similar technologies to expedite underwriting and expand power market leverage.

 

The focus here is to protect the individual telehealth provider and the expanding telehealth innovative market.