In the ever-evolving landscape of healthcare innovation, we often witness the rise and
fall of pioneering companies. Today, we acknowledge that Better Therapeutics has
decided to wind down operations and delist from the Nasdaq. While the company’s
journey has come to an end, it’s crucial to recognize and appreciate their contributions
to the DTx industry and support the longevity of their products for people with type 2
diabetes.
The bankruptcy of Better serves as a sobering reminder of the inherent risks associated
with healthcare startups. The road to success in this industry is fraught with challenges,
including regulatory hurdles, funding uncertainties, market adoption barriers, and clinical
validation requirements. Leaving many people wondering, where did Better go wrong?
We are witnessing a systemic problem within the U.S. healthcare system. Patient
access to digital health technologies is a crucial aspect of modern healthcare, yet CMS
and private health plans fail to provide coverage for these FDA cleared products. While
countries like Germany, France, UK, South Korea, and Japan have implemented
initiatives to facilitate patient access to digital therapeutics, the U.S. lags behind. It is
disheartening that in a country as advanced as the United States, our governing bodies,
agencies, and representatives will not take the steps to ensure that patients receive the
care they need. This is yet another stark example of the shortcomings of the U.S.
healthcare system and the bureaucracy that plagues it, leaving patients at a
disadvantage.
Digital health represents the future of healthcare. With advancements in technology,
data analytics, and artificial intelligence, digital solutions have the potential to
revolutionize patient care, improve outcomes, and enhance the efficiency of healthcare
delivery. From remote patient monitoring and personalized interventions to virtual care
platforms and predictive analytics, the possibilities are endless.
The story of Better Therapeutics is not an industry signal – there are many examples of
financial successes in digital health. Let us express our gratitude for their contributions
and commit ourselves to advancing the field of digital therapeutics with renewed
determination and optimism. With perseverance, collaboration, and a shared vision for
the future of healthcare, we can overcome challenges and realize the full potential of
digital health to transform lives