Famed investor Fred Wilson spoke to a crowd at Le Web this morning and said if he could only invest in one thing over the next five years it would be health and wellness.
He believes the change in the healthcare industry is going to be dramatic and that it’s the largest untapped industry in the United States.
The reason he thinks healthcare will experience such a stark transformation is that it’s being impacted by so many different forces and at the same time.
One thing transforming healthcare is wearables. More and more people are wearing devices that can monitor and record their personal health data. This is allowing people to take control of their own wellness in ways they haven’t previously been able to.
People are starting to use mobile-based services to get treatment through their phone. They’re increasingly texting with doctors and nurses or their getting prescriptions filled via their smartphone.
The cost of healthcare is also under pressure to go down around the world, and a younger generation of healthcare workers is embracing technology in new ways.
On top of all this, healthcare is not a service you can opt out of.
“We all need it, and people will pay for it,” Wilson explains, “When you’re sick, you want to get well.”
“It’s not an expenditure that you can think about making, it’s one that you have to make.”
Wilson said he expects we will see the “Uber” or the “Airbnb” of the healthcare space emerge this year.
(What does that mean? A big, disruptive company will emerge.)