Lately, we’ve seen tons of ads for HIMS and HERS, the DTC healthcare services that have been around since 2017 but really took off during the pandemic. By taking off, we mean the company’s 2023 revenue was reported at $872 million, up 65% from 2022. While much of life has returned to a pre-pandemic version of normal, telehealth-driven DTC offerings like HIMS and HERS are here to stay. So, back to those ads that are everywhere. They’re light-hearted yet sensitive portrayals of people grappling with delicate concerns–for example, we see a late-20ish guy with anxiety, relating to a vending machine that has a ‘broken inside’ note. There are frank dramatizations of both male and female hair loss, and men coping with ED. These spots help destigmatize treatment for issues that have traditionally been cloaked in secrecy and shame. The business model itself is one of radical efficiency, giving people the power to self-select a treatment path in just a few clicks and a simple telehealth follow-up. On one hand, we love anything that streamlines access to vital healthcare services. HIMS is a cash-pay business that may make care less expensive by letting patients bypass a complicated system to get the exact care they’re looking for. And telehealth can potentially increase health equity by making it easier for women, members of the LBTQIA+ community, non-English speakers and other groups to get care – especially for sensitive issues like mental health. But on the other hand, it could be problematic. Complex problems need a solution beyond “one size fits all” care We’re not singling out HIMS, but pointing to the DTC healthcare business model. Conditions like depression, anxiety, ED, and hair loss are complicated and may be symptoms of a larger problem that needs to be properly diagnosed, something a DTC business may not offer. Management of these conditions isn’t “one and done”: it takes time and trial and error to find the right treatment. Even hair loss due to simple alopecia requires ongoing management, including the potential to be on treatment for the rest of a patient’s life. Disrupting the doctor/patient relationship DTC healthcare creates a transactional, siloed relationship that turns healthcare into a marketplace with customers on one side and vendors on the other, and that could create serious gaps in care. But there’s opportunity One thing is for sure: the genie is out of the bottle, and people appreciate the convenient, straightforward approach that is core to these DTC health offerings. The success of this model highlights existing issues in the traditional healthcare system: · Inefficiency · Lack of transparency around pricing · Patient perceptions of stigma around sensitive topics The tech sector is famous for its agile, iterative approach to solving problems. Hopefully, over time, the DTC model will evolve into something that emphasizes whole-human centered care.
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