The best health tech startups may just be the future of the healthcare industry. According to Hampleton, the COVID-19 pandemic caused a drastic shift in the healthcare systems to digital and web-based processes. Health tech startups offer invaluable services in terms of drug discovery, healthcare software, and machinery that improves medical care.
These health tech startup companies are redefining the future of medicine in the world today. By employing a digital platform to offer instant medical services on mobile apps and sites, not only is the quality of care for patients improved, but also the overall quality of life. Continue reading for a deep dive into the best health tech startup companies on the market today.
What Are Health Tech Startup Companies?
Health tech startup companies are small tech companies that are in their initial stages of operation and provide digital technologies in the form of software and platform solutions to caregivers and patients in the health industry. The health tech industry is vast and comprises companies offering various digital health and in-clinic services like diagnostics analysis, health records management, healthcare insurance, and medics delivery.
Top Health Tech Companies That Began As Startups
An industry as large as healthcare may make you think of huge conglomerates like Johnson & Johnson or Allina, but there is a broad range of companies on the market today. Many of the biggest health tech companies currently in operation also began as startups. Below you’ll find five of the most successful health tech companies on the market.
Big Health Tech Companies
- Covera Health
- WELL Health Technologies
The Best Health Tech Startup Companies
|Company Name||Location||Funding||Number of Employees|
|Collective Health||San Mateo, California||$719M||501 – 1,000 (2022)|
|Flatiron Health||New York, New York||$324.9M||1,001 – 5,000 (2022)|
|Headspace||Santa Monica, California||$215.9M||384 (2022)|
|Hinge Health||San Francisco, California||$1B||500+ (2022)|
|Kyruus||Boston, Massachusetts||$148.2M||259 (2022)|
|Rally Health, Inc.||Washington, D.C||$10.5M||824 (2022)|
|Tempus Labs, Inc.||Chicago, Illinois||$1.1B||1,521 (2022)|
|Verge Genomics||San Francisco, California||$134.1M||11 – 50 (2022)|
|VillageMD||Chicago, Illinois||$491M||251 – 500 (2022)|
|Wellframe||Boston, Massachusetts||$45.2M||171 (2022)|
The Top Health Tech Startups: A Closer Look
- Founded: 2013
- Funding: $719M
Silicon Valley-based Collective Health is a digital health startup that offers health insurance services for organizations and its employees across America. The healthcare technology company utilizes a cloud-based digital platform that works to provide lower healthcare costs and operate more efficiently. It has more than 50 top clients, including Red Bull, Zendesk, Driscoll’s, Restoration Hardware (RH), and Pinterest.
- Founded: 2012
- Funding: $324.9M
Flatiron Health is a large health tech company that helps connect healthcare providers and medical professionals such as oncologists, life science researchers, academics, and even hospitals on a digital health online platform. Its innovations include OncoAnalytics, OncoBilling, and OncoEMR to help improve the treatment of cancer, primary care, and the quality of life for cancer patients.
- Founded: 2010
- Funding: $215.9M
Headspace offers digital health software and a mobile app that allows 65 million users to incorporate meditation into their everyday lives, helping them prevent or cure mental health issues like anxiety, stress, and insomnia. They partner with the UK National Health Service and top brands like Nike, Amazon, and Apple to offer mental health services.
- Founded: 2015
- Funding: $1B
Founded in 2015, Hinge Health offers the first digital healthcare facilities specializing in musculoskeletal conditions, such as back and joint pain. The startup has developed impressive technology such as wearable sensors to alleviate chronic pain. It offers services to millions of users and employers, including US Foods, Salesforce, and Boeing. Over 90 percent of health plans and four in five employers choose Hinge Health as their musculoskeletal medical solution.
- Founded: 2010
- Funding: $148.2M
Kyruus is a digital health company that offers health tech software to patients to search for and access medical care across digital platforms. Kyruus partners with a trademark platform, ProviderMatch, to match appropriate health care to patients with better visibility and ease. The virtual platform results in a better patient experience, consumer conversion, and retention.
Rally Health, Inc.
- Founded: 2010
- Funding: $10.5M
Rally Health is a digital health care provider that offers seamless health services to over 55 million users through companies such as UnitedHealthcare and BlueCross BlueShield of South Carolina. Rally’s health tech software consolidates all employees’ health insurance needs into one convenient online app. Rally Health, Inc., as well as other health tech startups, has helped increase patient engagement and accessibility on digital health platforms.
Tempus Labs, Inc.
- Founded: 2015
- Funding: $1.1B
Tempus is a digital health tech company that applies artificial intelligence to medicine by gathering large sets of clinical and molecular data sets from every individual patient’s electronic health record. They also partner with companies to provide better therapies and personalized care for cancer, mental health, infectious and chronic diseases, and other medical conditions through machine learning platforms.
- Founded: 2015
- Funding: $134.1M
Verge Genomics is a healthcare startup that employs artificial intelligence to procure drug treatments for neurodegenerative disorders, such as Parkinson’s and Alzheimer’s. The healthcare organization’s team of drug developers and machine learning experts identify life-changing drugs for neurological conditions. Verge helps pharmaceutical companies discover drugs with the highest likelihood of success for development in medicine.
- Founded: 2013
- Funding: $491M
VillageMD is a top health care provider that offers clinical and technological support for physicians to improve medical care for its patients. The highly-funded startup provides tools that help improve health outcomes, integrated patient care systems, and even education on diseases, counseling, and post-hospitalization services. VillageMD offers quality, cost-effective services for healthcare professionals.
- Founded: 2011
- Funding: $45.2M
Wellframe partners with healthcare insurance plans across the country and applies innovative technology to offer better services to patients, and improve patient outcomes overall. These technologies provide strategic connections between primary care providers and patients. Patients can easily access medical data such as their electronic health records and personalized medication and appointment dates, and get appointment reminders through the mobile app.
Benefits of Working at a Health Tech Startup
There are many benefits of being an employee of a growing innovative technology company in the healthcare industry. Below we explore five great reasons to work at a health tech startup.
Top 5 Reasons to Work at a Health Tech Startup
- Competitive salaries. The health tech industry is getting more competitive as more startups join the market. To keep the best workers, health tech startups typically offer decent salaries alongside other benefits, like health insurance and retirement plans.
- Experience. Startups are known to be friendly towards entry-level job seekers, since they may not be able to compete with bigger companies for highly experienced staff. As a startup professional, you’ll build relevant industry experience while developing skills by working on innovative projects.
- Potential for growth. Entering the industry with a startup gives you better job security as the company scales. If you stick with the company throughout its growth, you’re likely to have accelerated career growth, especially if you have a good professional reputation. Strong founding staff members can even grow to get equity in the company.
- Team atmosphere. Working in a small company gives you the flexibility to contribute, relate with your colleagues, and build confidence at work. The smaller size helps individual workers to communicate better with their colleagues, thereby building a more inclusive and productive work environment.
- Work-life balance. It is common to see startup professionals multitasking and covering a broad range of responsibilities. That has its advantages, as workers learn to build versatility and experience. They can maintain an excellent work-life balance and still meet work demands. Health tech startups are also often flexible with working remotely.
Can a Coding Bootcamp Help Me Get a Job at a Health Tech Startup?
Yes, the best coding bootcamps can help you get a job at a health tech startup. Bootcamps offer hands-on training and knowledge of essential topics and skills required in the industry. However, keep in mind that your job placement success rate depends on the bootcamp and your qualifications, such as an educational degree and relevant job experience.
Top Bootcamps with Health Tech Programs
- Flatiron School: Flatiron School offers bootcamps for UI/UX design, web development, data science, and cyber security. They provide online, full-time, part-time, and self-paced programs that can help you prepare for an entry-level health tech job.
- Simplilearn: Simplilearn offers bootcamps for data science, data analytics, web development, digital marketing, product management, and full stack development. Their self-paced programs can help you gain the necessary skills for various job positions.
- The Tech Academy: The Tech Academy offers bootcamps for UI/UX design, data science, web development, iOS development, Android development, full stack development, and cyber security. Digital health platforms require candidates to have sufficient knowledge of these topics.
- Nucamp: Nucamp offers bootcamps for web development and full stack development. Its available programs are online, part-time, and self-paced programs.
- Thinkful: Thinkful offers bootcamps for UI/UX design, data science, data analytics, web development, digital marketing, and full stack development, all very relevant skills that are valued by health tech organizations.
Common Jobs in Health Tech
- AI engineers: AI engineers apply artificial intelligence algorithms to perform complex medical tasks, such as medical diagnosis, early vital signs and disease detection, clinical decision-making, drug development, and treatments.
- Infrastructure engineers: These professionals deploy IT infrastructure to ensure the smooth running of an organization’s system. They apply software and hardware theories to oversee the company’s technology system.
- Product designers: As many health tech companies operate on digital platforms, product designers are responsible for designing the healthcare software. They ensure that users have a seamless experience when navigating the platforms by designing friendly visual interfaces for digital products. UI/UX scientists, web developers, and software engineers may also fit into this job role.
- Data analysts: Data analysts in digital health tech startups collect and analyze large healthcare data to derive meaningful insight. They also oversee the organization’s data analytics.
Should I Work for a Health Tech Startup Company?
Yes, you should work for a health tech startup company because of the numerous opportunities available for you in the industry. You will get to earn a decent living, and enjoy the job satisfaction of making groundbreaking discoveries in medicine. Kickstart your career in the best health tech companies today.
Best Health Tech Startups FAQ
The most profitable startups are those in software development, health and wellness, digital marketing, freelance writing, business consulting, web design, transport, financial technology, and mobile applications.
Most tech startups are private companies located in Silicon Valley, the tech capital of the world.
Yes, Apple devices support most health tech software applications. Apple also offers the Health App, which is compatible with Apple devices including iPhone, iWatch, and MacBooks. The Health app allows users to monitor core health metrics like heart rate, redundancy, and activity.
The newest technologies in the healthcare industry include personalized medicine, telehealth, 3D printing, and deep learning, which are used for predictive diagnostics. Personalized medicine and telehealth allow patients to access medical care through their mobile devices.
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