COVID-19: The Great Digital Health Accelerator
Tags: technology, healthydebate
Published: 2021-05-11 12:19:46

#### BioReference Laboratories SVP for Digital Health and Chief Digital Officer Richard Schwabacher on how the pandemic will make virtual health the default.

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_EDITOR’S NOTE:  During a recent case study interview, Senior Vice President, Digital Health and Chief Digital Officer, BioReference Laboratories, Inc., an OPKO Health company, [Richard Schwabacher](https://www.linkedin.com/in/rschwabacher/) said that responding to COVID-19 has accelerated trends in the digital health by 7-10 years. We asked Schwabacher, a veteran of Pfizer and Quest Diagnostics who had left diagnostics only to return due to COVID, to expand on his perspective in this guest author post. ([Learn](https://auth0.com/case-studies/bioreference/) how BioReference used Auth0 to quickly scale to meet pandemic requirements.)_

There has not been an event that has impacted humanity as intensely as COVID-19. It has exacted a heavy toll, and it is clear that we will be confronting the effects for years to come. 

In terms of digital health, we already see COVID-19 accelerating trends that were thought to be a decade or more away. Trends like telemedicine and remote patient monitoring, to name just a few, were just starting to take hold when the pandemic hit and are now experiencing rapid adoption.  

Responding to COVID-19 has created a moment when patients, physicians, and insurers are more open to new ways of thinking and working. What this means for the future of healthcare is not just exciting but potentially profound.

## FinTech as a Proxy for HealthTech

Today, most of us bank from our smartphones. This is, in part, because the financial services industry has done a relatively good job balancing customer experience and data protection within their digital solutions. FinTech companies that focused on micro journeys within the space, like peer-to-peer exchanges, led to consolidation in the sector as large institutions clamored for ways to attract new customers and delight their existing customers through thoughtful digital experiences. 

Take Zelle’s peer-to-peer payment technology. Zelle, now integrated into several of the traditional banking institutions, focused on simple peer-to-peer transactions. They appealed to a segment of the [population increasing in value to the banks as customers and offered a treasure trove of data on consumer behavior](https://www.paymentsjournal.com/peer-to-peer-payment-apps-are-diversifying/). Although peer-to-peer [can be prone to additional risk](https://www.wfmynews2.com/article/news/local/2-wants-to-know/what-you-dont-know-about-cash-apps-like-venmo-zelle-cash-app-consumer-reports-says-apps-dont-work-like-a-bank-there-are-no-protections/83-4157e228-c6f0-484c-b239-23119a44f3f5), the big banks incorporated Zelle into their user interface, knowing that customers would seek out this functionality and might leave their old bank behind. It’s a degree of personalization that is aligned with customers’ needs. The fear of a devaluating customer, or worse, one who's about to leave, is a powerful incentive for innovation.  As consumers, there’s virtually nothing stopping a consumer from trying or switching banks entirely if not satisfied. We can do that with relative ease and without asking permission. We can just make the change frictionless. 

Not the case when it comes to healthcare. Don’t like your insurance company? Not so easy to jump ship. If you receive your health insurance from your employer, like most Americans, you’ll have to wait for annual open enrollment to make a change. And even then, you’ll have only a handful to choose from.

[Read more...](https://auth0.com/blog/covid-19-the-great-digital-health-accelerator/?utm_source=content_synd&utm_medium=sc&utm_campaign=digital_health)