Mark Cuban is one of the most successful businessmen in history, and one of the first to take the lead on investing in the technology currently transforming health care. When he talks about the future of medicine, people listen.
The health care tech revolution
“Tech has impacted every aspect of health care,” says Cuban. “While that technology can’t replace conscience and empathy, what’s exciting is that it can bring precision, reach and scale in ways that can improve care.”
When asked what technologies excite him the most, Cuban doesn’t hesitate. “What really accelerated my interest and commitment was the advancement of artificial intelligence. At its heart, digital health is all about capturing, processing, interpreting and utilizing data. Artificial intelligence, via machine learning and neural networks, enabled companies to do all of the above in a far more comprehensive and accelerated manner.
“I think the value of Remote Patient Management will skyrocket with the implementation of 5G,” he adds. “Patients will be able to not only use telemedicine and remote monitoring via broadband into the home but will be able to take those resources with them.” Cuban sees this as empowering. “When people own their own data, they can leverage that data and new tools to have a better understanding of their health and care.”
Fewer buzzwords, more benefits
“Technology is core to everything I do,” Cuban says. “That said, the more tech that a company introduces, the greater the need for amazing people to implement it.”
When it comes to choosing investments, Cuban is done with overheated hype. “The fewer the buzzwords the better,” he insists. “The questions I always ask are ‛What makes the company unique?’, ‛How can they prove it’s unique?’ and ‛How will they implement this feature in a manner that truly benefits patients?’ Because the technology is changing so quickly,” he adds bluntly, “there are a lot of people whose sales pitch is better than their company’s technology.”