IBM Forms Health Company, Forges Partnerships With Apple, J&J, And Medtronic
Computing giant IBM has become the latest tech company to move into the health care space, setting up a dedicated business unit, IBM Watson Health, and signing up a slew of big-hitting partners.
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Start-Up Spotlight: Payers, Pharma Clients Bank On Prognos' Artificial Intelligence To Predict Disease
New York-based health IT company Prognos recently secured $20.5m in Series C financing to build out its artificial intelligence capabilities, which it has applied to a giant diagnostic laboratory registry containing data from some 180 million patients. Given the shift to value-based health care and the high costs of treating chronic diseases, insurers might use information from this registry to predict the likelihood of disease and reach out to members to help head off illnesses. Pharma clients, in turn, can use the data to target physicians to help them deliver effective treatments.
Siemens Healthineers will be offering population health management solutions for the first time, as it teams up with IBM Watson Health. Verily and 3M are also joining the PHM partnering wave.
The role digital health will ultimately play in the overall health care market is still evolving, but it is becoming clearer that consumers and consumer-based products will play a role. The merging of consumer and medical was evident at CES in Las Vegas, where an increasing number of businesses are showcasing new products for the digital health market, which is expected to reach $233 billion by 2020.