[LinkBlog] Efficacy vs. Effectiveness vs. Efficiency « Healthcare Economist

“Efficacy describes the technical relationship between the technology and its effects (whether it actually works), whereas effectiveness concerns the extent to which application of an efficacious technology brings about desired effects (changes in diagnoses, altered management plans, improvement in health)…Efficiency is an economic concept which relates efficacy and effectivness to resource use.  Assessment of efficiency is concerned with whether acceptable efficacy and effectiveness are achieved with the most prudent or optimal mix or resources.


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Some exciting startups in the HealthTech Space #health2india

Another coverage of the Health 2.0 conference that I attended

Best Engaging Communities

James Matthews, a good friend and entrepreneur invited me to attend the Health 2.0 Conference for entrepreneurs and healthcare professionals today and speak about Health Tech investments. About 80 to 100 folks were in attendance, featuring about 30 entrepreneurs, 25 investors and the others were from Pharma companies, Hospitals and diagnostics chains.

Our panel featured an entrepreneur (Poonacha), a healthcare product company (GE) VP (Partha) and Ravi from Zanec.

There were 4 startups that were allowed to pitch the investors, and while there was no commitment from the investors, the startups were not looking to raise immediately either. This was a session for them to get some feedback from potential investors.

There are 3 high level observations that relate to investing and entrepreneurship in the space that I want to highlight first and then talk about the interesting companies.

1. Older Indians overall have little respect…

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Takeaways from the #health2india 2014 conference

Attended the Health 2.0 conference in Bangalore over 7 & 8 February that had some very thought provoking sessions on the way technology is shaping the way forward for the healthcare industry.  Also did a live coverage of the event on twitter (ab_aditya) in form of public notes. Here’s a summary:

  • The industry is focusing on preventive care driven by advances in technology, particularly cloud, mobile devices, sensors & genomics
  • A lot of useful technology already exists and the industry needs to integrate these to create meaningful solutions through collaboration among the various stakeholders
  • Challenges include reaching out to the masses untouched by healthcare, providing leave scale quality service with empathy & improving the efficiency of the ecosystem
  • Regulators & governments have a very important role to play at the current inflection point in removing obstacles to innovation
  • Startups in the West are focusing primarily on consumers, while most in India are targeting healthcare professionals