Is health-tech entering its ‘influencer’ era?

One of the biggest and most expensive challenges associated with building a health-tech company is patient acquisition, especially in today’s “attention economy,” when it’s more costly and challenging to win over people’s time. Let’s be real: most companies compete with Instagram and TikTok to engage patients in their solution, which can be a losing battle.

So if you can’t beat ‘em, why not join ‘em?

Of all the ways to get the word out these days, I’m seeing more interest in working with influencers. Companies in digital health are experiencing huge brand lifts because of these relationships. To name just a few: NOCD and Howie Mandel; Midi and Amy Schumer; Function Health and Dr. Mark Hyman, Equip Health and Kerry Washington… the list goes on.

What fascinates me is how variable these relationships can be — sometimes, it’s compensation to the influencer. In others, the influencer invests their money into the business because they deeply believe in it. And there’s plenty of shades of grey in between. These days, I’m seeing it all!

“The first thing is there’s a distinction between celebrity doctors and celebrities in entertainment and media—the traditional celebrities—and there’s a convergence in both kinds getting involved in health companies,” said Georgina McMillan from Headline in a recent podcast we recorded.

I’ve found that the arrangement is usually in the middle, with some give and take. The influencer or icon takes equity or some combination of cash and equity to promote a business, sometimes because they have a personal connection to the problem. Sometimes they invest via their family office or fund if they see an opportunity for a return on their money.

The hard part is making these connections happen, and then driving them forward. When it comes to successful outcomes, the match is everything. Let’s dive in.

We spoke with Georgina McMillan, a consumer investor with Headline on the topic this past week on the Second Opinion podcast. Tune in here.

Authenticity wins

One of the smartest people I know on influencer marketing is Carine Carmy, CEO of Origin, a women’s health MSK company that started with pelvic floor PT (editors’ note: I’m an advisor). Carmy lives in Los Angeles, so she has easy access to many of these influencers. Origin also has clinics in the area, so many icons and influencers have personally used them for their health needs.