Google insurance. Microsoft wellness patent. Telemedicine.
Let Me Google That For You
Our full report on everything Google is doing in healthcare is out. It includes how it’s using AI, which diseases it’s going after, it’s Google Cloud push in healthcare, and areas we think they may be going next including tools for providers and health insurance.
In the Google healthcare piece, we noted how Verily raised $800M from sovereign wealth fund Temasek Holdings to possibly expand into Asia.
Temasek is one of several sovereign wealth funds looking to increase its clip into healthcare investing. For our expert intelligence clients, we analyzed which of these funds are investing in healthcare and where.
You are, my FHIR, my one, desiiiiiiire
One of the interesting parts of Google’s strategy is its work creating a new data infrastructure using Fast Health Interoperability Resources (aka. FHIR). FHIR provides standards for healthcare players so that people use the same names for data elements, use the same data formats, etc. Standardizing small things like labeling a patient “patient” instead of “subject” or “name” can make a huge difference.
To get to a point where we should be applying AI, the data needs to be standardized and machine-readable. FHIR is a means to that end, and Google’s buy-in is a strong brand that might increase FHIR adoption.
Apple is also doing this as well, using FHIR to build out its personal health record, which rolled out earlier this month with nearly 40 health systems.
With the adoption of FHIR + tech companies getting in the mix, the government now heavily focusing in on interoperability, and a demand from consumers for access to their data, it’s clear that health data will inevitably be liberated and free-flowing (timeline TBD).
For EMR companies, this means that simply being databases and billing systems will eventually not be enough of a moat. EMRs will finally have to compete on some level of customer experience, whether that’s building user friendly and functional tools or developing much more friendly environments to build applications on top of (a la Salesforce).
Next week I’ll be speaking/moderating a panel at HLTH in Las Vegas from May 6th – 9th. Here is my cartoon as proof. I enjoy data and french fries (ironically as a health analyst).
If you’re a client and want to meet up while I’m there, let me know! For anyone that wants to attend the conference, you can use our discount code cbinsights_150 for $150 off.