Affordable Care Act Injects Investment into Software Sector - Health Minute for November 14, 2013

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Affordable Care Act Injects Investment into Software Sector - Health Minute for November 14, 2013

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Thursday, November 14, 2013 - 11:30am

CAMPAIGN: The CSR Minute

CONTENT: Press Release

The Affordable Care Act expects to add, eventually, millions of new customers to the health insurance sector. It is also attracting millions of investment dollars into software startups that aim to help the newly insured manage their personal health, reports the Wall Street Journal. Venture capitalists have invested $948 million in 144 health-tech companies in the first nine months of this year. That’s 16 percent more than was invested in all of 2012, according to the National Venture Capital Association. ZocDoc has raised almost $100 million dollars. Audax Health has taken in $55 million. While loading up on investors, dozens of startups have hired hundreds of Silicon Valley engineers. They’re all in the race to build brand names in an exploding market for wellness apps. They include those with a new take on medical records, such as Practice Fusion; online-therapist services like Breakthrough Behavioral; activity trackers like Fitbit; and Glow, a fertility app. Many of these new companies have adapted designs and functions from social networking and consumer apps. For example, online services from Audax help consumers to win cash awards from insurance providers as they improve their health with diet and exercise, and to collect Foursquare-style badges to prove it. In a twist on the law of unintended consequences, the Affordable Care Act is injecting a very healthy dose of business activity into the software industry. I’m John Howell for 3BL Media.

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Keywords: 3bl Media | Affordable Care Act | Health | Health Minute | Healthcare | Investment | Software

CAMPAIGN: The CSR Minute

CONTENT: Press Release

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