Femtech companies are using technology to support women worldwide to live longer, healthier, and better lives. Femtech is one of the fastest-growing health sectors on the market and is transforming women’s health and wellness. These companies provide solutions to meet the unique healthcare needs of women. Experts project the market has the potential to reach almost $10 billion by 2024.
Femtech offers new care models and solutions to support women’s healthcare — care that addresses the physical and psychological needs of women. The definition of women’s healthcare has evolved and expanded in recent years. While it covers a broad range of areas, key areas of focus in women’s healthcare include contraception and reproductive health, pregnancy and childbirth, ovarian, breast, and uterine cancer, menopause and hormone therapy, and chronic disease management.
Adopting this new standard requires collaborative, integrated care — addressing the physical, mental, and emotional health needs of women. Providers and care teams making this shift to support their patients are embracing new technology solutions. Welkin Health empowers providers to deliver team-based, patient-centered care designed to support women.
First let’s ask, what is women’s healthcare?
For years, women’s healthcare was typically associated with reproductive health and limited to contraception, pregnancy, and fertility care. This narrow approach disregarded the fact that women have physical and psychological healthcare needs across their lifetimes that are unique to their experience.
Women’s healthcare now recognizes that diseases, chronic illness, and other healthcare conditions do not present the same way in men and women. For example, with regard to cardiovascular health, women experience different heart attack symptoms than men. This may mean that a woman with these symptoms may encounter more barriers to accessing care and have poorer outcomes due to delayed diagnosis.
The differences between men and women also extend to cellular biology. Each cell in an individual’s body has a sex chromosome. Diagnosis, treatment, and care management focused on good health outcomes for women need to take these differences into account. Disparities in care for men and women must be addressed to improve overall population health.
What is femtech?
The rise of femtech provides more accessible, affordable care for women who have had to navigate a healthcare system and clinical approaches designed for men. Telehealth solutions allow providers to remotely diagnose and treat patients where appropriate, and many femtech companies incorporate telehealth as part of their model.
Learn more about how femtech is transforming women’s health.
Why is femtech important?
Femtech companies are solving gaps in the healthcare system and creating a much needed space for women to take control of their health journey. Care models and technology are designed to provide women with better access to care. Women can take a more active, informed role in managing their health and are seeing many benefits.
Femtech companies are designing new care delivery models through virtual clinics, direct-to-consumer prescription services, and innovative apps.
Women can manage their care and achieve their own personal health goals with wearable devices, at-home testing and diagnostics, and access to online support from clinicians.
Menopause, menstrual health, and infertility are just some examples of women’s healthcare issues that have historically been stigmatized. Femtech companies are disrupting this space and designing solutions specifically to deliver care and support on these issues.
Care models, technology, and devices specifically designed for Black women, women of color, and LGBTQ+ populations are addressing health inequities and improving health outcomes.
Femtech companies are designing models that take a woman’s experience into consideration and designing solutions specifically aimed at improving that experience.
More than two-thirds of femtech companies have at least one female founder. Femtech has opened more opportunities for female designers, engineers, scientists, and clinicians.
How is Welkin supporting Femtech?
Welkin Health gives care teams the ability to design a customized approach to manage patient care and integrate with femtech solutions. Welkin offers a unified, customizable care management platform for preventative, follow-up, and chronic care management and allows providers and care teams to focus on integrated patient care.
New approaches to women’s healthcare require the adoption of integrated care models. Integrated care is the planning, managing, and delivering of coordinated, seamless service to support individuals to live healthier lives. Integrated care improves both individual-level health outcomes along with population health.
Providers and care teams with a comprehensive, integrated care management approach need the right technology. Welkin’s platform offers multiple native and custom-built integrations with leading health applications.
Integrated care is the key to supporting the evolution of women’s healthcare. Welkin supports a collaborative, team-based, patient-centered approach that gives women control of their health.
Scaling care while maintaining compassion
Providers and care teams working in women’s healthcare focus on building trusted relationships with patients with a compassionate approach. Care management platforms automate time-consuming administrative and operational processes and tasks, allowing more time for engaging in patient communication.
A care management platform enables a team-based approach to integrated care. A collaborative care model in women’s healthcare requires transparency and clear communication. Real-time updates access comprehensive patient files, and collaborative treatment are made much easier when data is centralized in one location.
Care management technology that supports personalized care plans, direct patient engagement, and team collaboration supports patient-centered care. Customized, personalized care allows providers and care teams to provide high-quality care that results in the best outcomes for patients.
Real-time triage pathways
Integrated healthcare requires communication and notification processes that alert providers and team members when urgent, real-time interventions are needed. A care coordination platform that allows you to create triage pathways with parameters for alerts and notifications supports immediate needs efficiently and effectively.
Personalized communication and patient engagement help to build a trusted relationship between the patient and provider. Care management platforms with customizable communication and outreach capabilities support an environment where patients can raise concerns to their providers. Access to health data allows women to better manage their health and results in better long-term outcomes.
Access to a comprehensive view of a patient’s health data supports provider collaboration and care plan design. Having a full view of a patient’s history is key to detecting future risks or complications and identifying potential interventions. A single care management platform that compiles and analyzes all data streams within a healthcare organization makes it easier to deliver integrated care.
Femtech is transforming women’s healthcare and improving access to care and outcomes for millions of women around the world. Experts predict that the femtech market will more than double in the coming years from $5.2 billion in 2021 to $13.3 billion by 2030. Femtech companies are addressing gaps in women’s healthcare that have previously led to poor outcomes and patient experiences for women. The growth of femtech will lead to improved outcomes in women’s healthcare and will give providers better opportunities to address the unmet health needs of women.
Welkin offers tech solutions for providers and care teams who want to focus on women’s health and increase patient engagement, satisfaction, and health outcomes. Welkin’s patient-centered care approach helps providers provide personalized care for patients. Learn more about how Welkin Health is helping women through every step of their health journey.