Today, 147 million adults in the United States had a chronic condition and over 40% had two or more chronic conditions. The people with chronic and behavioral health conditions accounted for 90% of U.S. healthcare spend. This issue is not unique the United States as prevalence of chronic conditions has reached immense proportions worldwide and is expected to continue rapidly growing. It is estimated that over 400 million people are living with diabetes in the world, which is expected to rise to over 600 million people worldwide by 2040.
As of 2014, approximately 60% of all U.S. adults lived with one or more chronic conditions, and over 40% had two or more chronic conditions. The current U.S. healthcare system is not designed to continually care for people with chronic conditions and people are left to manage these conditions on their own with limited guidance. This has resulted in chronic conditions collectively costing the U.S. economy approximately $1.1 trillion in direct healthcare costs.
In 2018, a record breaking $8.1 billion of venture capital funding poured into the digital health industry. With this influx of funding we have seen more digital health solutions flood the industry. These point solutions typically address a single health condition, and many of these solutions claim to garner the same outcomes. This has resulted in an often confusing and muddied market and resulted in growing skepticism about the long-term prospects of the industry. Without the ability to show consistent and proven clinical and financial outcomes, many people have begun to wonder if there is a bubble in digital health and if the industry will be able to sustain the momentum much longer.
Livongo’s different approach combines advanced technology, data science, and personalized coaching and its integrated platform addresses diabetes, diabetes prevention, weight management, and behavioral health to drive clinical and financial outcomes.