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Growth Hacking Health: Scaling Your Venture

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Digital Health Entrepreneurship

Part of the book series: Health Informatics ((HI))

Abstract

There are approximately 7.5 billion people that share our planet. It takes roughly seven trillion dollars per year to keep the global population relatively healthy, with over 50% of that spending occurring in the United States (Institute of Medicine/Reports. Best Care at Lower Cost The Path to Continuously Learning Health Care in America. 2012).

No hospital, no matter how tall or wide, can treat all those people. True scale in healthcare can only be achieved through digital means. The belated promise of prevention in healthcare, a pyrrhic battle until the recent widespread use of smartphones, will also only be realized by digital means. The Holy Grail of Healthcare, that is precision or personalized medicine, will also only be seized by hybrid technological innovations.

Traditionally, the art and science of medicine (and some would say even the very nature of life itself) relied on the constant yin and yang of ‘trial and error’. Growth hacking is taking that same stochastic process and exponentially increasing its base and pace thanks to the power of digital technologies, data collection and analytics. This process of rapid experimentation across marketing funnel(s), product development, sales segments, and other areas of the business will help the most diligent digital health entrepreneurs find the most efficient way(s) to scale their business. And healthcare has always been about scale. Digital healthcare entrepreneurs will also need to employ a hybrid healthcare approach to address the pain points of future generations.

Growth hackers in health must also focus on low-cost alternatives to traditional marketing, e.g. using social media, viral marketing, psychographics, or targeted advertising instead of ‘wasting’ valuable runway dollars on advertising through more traditional snail media mediums such as radio, newspaper, and television.

This chapter will shed light on the hard work that is required to develop a viral digital health venture. Magical spagyric self-care apps or philosopher stone platforms do not simply or spontaneously self-generate ex-nihilo. In the dog-eat-dog world of entrepreneurship there is no such thing as luck. These new miraculous tools of medicine are the result of thousands of man-hours of analog and artificial intelligence. To paraphrase Thomas Jefferson, the harder you work, the luckier you get.

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References

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Correspondence to Mussaad Al-Razouki .

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Al-Razouki, M. (2020). Growth Hacking Health: Scaling Your Venture. In: Wulfovich, S., Meyers, A. (eds) Digital Health Entrepreneurship. Health Informatics. Springer, Cham. https://doi.org/10.1007/978-3-030-12719-0_14

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  • DOI: https://doi.org/10.1007/978-3-030-12719-0_14

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-12718-3

  • Online ISBN: 978-3-030-12719-0

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