Ep81: Lessons Learned and Future Trends: 2023 - Year In Review with Mike Pace

In this episode of the DTx Podcast, Eugene Borukhovich sits down with Mike Pace, CEO and founder of PalmHealthCo, to delve into the latest developments and insights from the DTx industry from 2023 and to discuss what may be in store for 2024. Eugene and Mike cover various aspects of the DTx landscape, including the growing importance of FDA authorizations, the shift towards non-prescription solutions, and the maturation of the industry into operations and pricing. Learn more about the impact of FDA authorizations on scalability in the US healthcare system, the strategic integration of digital therapeutics with virtual care models, market consolidation, and the effects of decreased venture funding on the industry. 1. [04:00] What has the industry learned from Pear Therapeutics' initial growth and scaling and, ultimately, its bankruptcy? 2. [10:45] Mike mentions the importance of FDA authorizations for scalability in the US healthcare system. How does he foresee potential FDA approvals shaping the landscape for digital therapeutics in the near future? 3. [15:20] PalmHealthCo has been involved in integrating DTX with virtual care and pushing for a virtual first go-to-market model. How has this approach impacted their journey and success in the DTx space, and what are the potential implications for the industry as a whole? 4. [20:10] What is the importance of high-quality clinical evidence for achieving permanent listing under regulatory laws? How critical is this evidence generation for the future of digital therapeutics, and what challenges does Mike anticipate in this regard? 5. [25:40] Considering the rise of aggregators in the healthcare industry influencing the market for digital therapeutics, what strategies can DTx companies employ to navigate this evolving landscape? 6. [30:15] With the current state of venture funding and market consolidation in digital health, what advice does Mike have for startups in terms of maintaining a focus on positively impacting patients and families while navigating the industry's challenges? Tune in to the DTx Podcast to gain valuable insights into the evolving world of digital therapeutics and stay updated on the latest trends, legislative impacts, and entrepreneurial advice from industry leaders. Guest Links and Resources: Connect with Mike Pace on LinkedIn Host Links: Connect with Eugene Borukhovich: Twitter | LinkedIn Connect with Chandana Fitzgerald, MD: Twitter | LinkedIn Connect with YourCoach.health: Website | Twitter Check out Shot of Digital Health with Eugene and Jim Joyce: Website | Podcast App HealthXL: Website | Twitter | Join an Event Digital Therapeutics Podcast would not be possible without the support of leading DTx organizations. Thank you to: > Presenting Partner: Amalgam Rx > Contributing Partners and Sponsors: LSI | Bayer G4A | Lindus Health Follow Digital Health Today: Browse Episodes | Twitter | LinkedIn | Facebook | Instagram Follow Health Podcast Network: Browse Shows | LinkedIn | Twitter | Facebook | Instagram