In my recent book, I talked about how technology is reshaping traditional markets and strategies. Given new directions in integrating health care monitors into clothing, I suggested we may be buying health care monitors in Lands End, and discussed how this will impact traditional retailer strategies. Sales staff questions may move from “What size and color jacket would you like to see?” to “Can I show you our blood pressure-only monitoring jacket or our top of the line full featured model tracking glucose, oxygenation and includes a USB port?”
And what about health care coverage. Expect to see some interesting issues emerge here- are you buying a jacket or a medical device; where do you draw the line?
The recently announced MisFit Wearables, with an investment by John Sculley MisFit Wearables Health Care Startup , I expect is moving in this direction joining other players and more are coming. The proliferation of sensor data from a wide range of devices (some you wear as clothes, some you attach to your body, some are like band-aids, you use and dispose), and the need to track, securely manage, share, analyze and communicate this data is spawning a new sector.
What is really exciting is moving from collection of basic vital sign data and using advanced analytics to analyze vital sign data, understand the real time impact of medications (both pharmaceuticals and nutraceuticals) and empower users and clinicians with new tools that can, I believe make a real contribution to improve our personal health and wellness, a market sector I am pursuing with a talented team. Lots of exciting developments here. Stay tuned.