IBM move into healthcare industry.
August 28th 2010 06:44
For decades, healthcare reforms have been a Gordian knot, resisting all attempts to cut through the tangle of relationships between caregivers and patients. This has led to costs that are overwhelming federal and state budgets. But the healthcare crisis is not just about money, the dollars being pumped into healthcare sector are not translating into either great patient experiences or any improvement on patient’s health. The US trails most western nations in patient satisfaction and lags in comparative mortality and morbidity results. The report points to an estimated 100,000 US deaths due to preventable medical error. It’s increasingly clear to us that investments in preventive and proactive care result in more cost effective and better results. The pressure to implement healthcare reform is coming both from above, in the government and even more importantly from below, as patients- the ultimate end users- demand greater input into their own care. Success in medical treatment will increasingly depend upon collaboration and teamwork. The effective treatment of diseases, especially complicated ones like cancer, simply requires too much knowledge, too much data, and too many specialties to depend upon one person. The healthcare system is in need of an interoperable system that could provide better access and empower both healthcare service providers and patients- a mandatory call for physical electronic record adoption. The pressure caught the attention of one of the most powerful IT companies-IBM. IBM, one of the world’s largest IT solution provider and outsourcing company has launched a $100M healthcare IT research campaign that will work to develop new medical technology on multiple fronts. Ten years ago IBM had only a small presence in biotechnology, the company‘s R&
labs have some 150 scientists focusing exclusively on computational biology. Now that number will change, IBM is about to make a strong push in the highly profitable healthcare industry. A big motivation for IBM’s investment on healthcare system is the US Stimulus Bill; this will provide and open huge business opportunities for IBM. The American Recovery and Reinvestment Act of 2009 (ARRA) known as the Stimulus Bill in the US, which to a great extent will promotes the power of digitization to increase access, lower costs, and improved quality of care, the stimulus Bill is the driving force behind IBM’s strong push into healthcare sector. The US Stimulus Bill has dollars dedicated for helping physicians, hospitals, service providers and purchases IT technology to keep electronic medical records. Tucked deep in the stimulus bill is a massive $19 Billion bundle of grants and incentives designed to wake up America’s technologically sleepy healthcare industry. The hope is that health providers will swap paper records for digital files, enabling doctors and nurses to update records easily, share health information with others in the industry, and even diagnose diseases remotely- while saving the system billion of dollars.
Cost, quality and access the three most important tenets of healthcare- are getting a shot in the arm. With the Obama administration’s signing of healthcare related provisions of the recent stimulus bill, the US is embarking on the electronic modernization of its healthcare system, this sounds great for IBM, and business is back for the IT Company. IBM has especially high hopes for the push to create an electronic health records (EHR) for the medical industry, a shot in the arm the company was waiting for. Widespread adoption of such standard would make patient data more measurable and comparable, which IBM expects could drive substantial sales of computer products and open new opportunities for services. The healthcare system is in desperate needs of an interoperable, state of the art healthcare IT, which can aggregate and analyze data and make it broadly accessible for both patients and service providers. Healthcare IT will lower costs for payers, providers and patients. It can provide a platform for eliminating waste through manual and paper based handoffs between hospital and labs, and it can distribute data without calling a doctor. Healthcare providers that have achieved successful collaborative patient-caregiver relationships will find that they are not only reduce the cost of care, but also improve satisfaction for patient, employees and medical staff. Analysts estimate that if all providers and hospitals adopted Healthcare IT (HCIT) appropriately and effectively, it potentially could produce annual savings in the healthcare sector of $80 billion. Healthcare systems worldwide are seeking ways to encourage physician and hospitals to adopt digital medicine. The US healthcare provisions in the ARRA (American Recovery and Reinvestment Tax Act) are designed to encourage widespread adoption of EHR (electronic healthcare record), the entire US medical industry is about to embrace EHR innovation, a bold push for the US government. IBM see this as an opportunity to goose growth, the big IT Company quickly launch an evasive maneuver, its prime objective join the party, and IBM will not going to play a catch up here. Big Blue (IBM) was already on the move, I’ll been tracking IBM for months so far the company was very busy It’s doing some deals with some of the world’s best. IBM had been working with physicians at facilities such as Mayo Clinic and Memorial Sloan-Kettering Cancer Center; and IBM is hiring medical professionals to work alongside more than 100 of its IT researchers. IBM is active and doing some “skunk works” in areas such as DNA and nanomedicine which applies nanotechnology the building of materials at a subatomic level to medicine- this is the future of medicine.
The IBM $100 M healthcare investment also includes a partnership with Peking University’s People Hospital in China to build a mobile platform to remotely manage chronic diseases, IBM goes global and it’s pretty serious about its investment. IBM is focused on empowering the healthcare ecosystem with some partnerships and sophisticated technology that improve patient care while driving operational efficiency. IBM healthcare systems address challenges in recruiting and retaining best talents; streamline the delivery of care by automating paper-based manual processes; and have a cost effective supply chain that ensures that the right medical supplies will be present when needed. IBM is delivering technology that connects patients, providers, and other members of patient’s support network. The technology will allow caregivers to improve access and the quality of care delivered to their patients, especially for those who have chronic diseases. IBM is making an aggressive push into services for the healthcare industry, for IBM the healthcare industry is a multi-billion dollar industry- a goldmine for IBM. The Mayo Clinic, which for decades has maintained one of the most complete sets of data about current and former patients, hired IBM to help assemble all that information into single, easily searchable healthcare system help database. Right now IBM and Mayo Clinic are taking the database one step further, dreaming up ways to cross- reference the information with genetic profiles of patients, using IBM’s Blue Gene supercomputer to do the heavy lifting and the magic of science. The Mayo Clinic sees a chance to propel medicine from a world of hunches to one of data-driven decision making, for better treatments. IBM sees this –as a chance to resell this particular service to others in the healthcare industry, worth $1.6 Trillion a year in the US alone, that was big! What innovations IBM bring to the healthcare industry? Healthcare sector are tackling increasing amounts of data and medical records. The demand is expected to grow, especially with the pressure to adopt electronic medical records and sophisticated diagnostics tools. IBM has created technology that allows medical records to be securely stored and it’s faster and reliable. It won’t be an easy upgrade of the healthcare system. The system is made up of ten of thousands of doctors’ practices, hospital chains, and insurers, all of which operate on different software platforms that don’t talk to one another.
As a result of this electronic medical records adoption, healthcare providers will be able to better harness today’s medical data and deliver information in real time to physicians and patients wherever they work so they can make faster, and more informed decisions in real time. IBM delivers a range of solutions to ensure that medical information is securely managed and mobilized, it will bring remarkable benefits of mobility and real-time information to healthcare systems existing technology investments.
For more see:
Techchaser
labs have some 150 scientists focusing exclusively on computational biology. Now that number will change, IBM is about to make a strong push in the highly profitable healthcare industry. A big motivation for IBM’s investment on healthcare system is the US Stimulus Bill; this will provide and open huge business opportunities for IBM. The American Recovery and Reinvestment Act of 2009 (ARRA) known as the Stimulus Bill in the US, which to a great extent will promotes the power of digitization to increase access, lower costs, and improved quality of care, the stimulus Bill is the driving force behind IBM’s strong push into healthcare sector. The US Stimulus Bill has dollars dedicated for helping physicians, hospitals, service providers and purchases IT technology to keep electronic medical records. Tucked deep in the stimulus bill is a massive $19 Billion bundle of grants and incentives designed to wake up America’s technologically sleepy healthcare industry. The hope is that health providers will swap paper records for digital files, enabling doctors and nurses to update records easily, share health information with others in the industry, and even diagnose diseases remotely- while saving the system billion of dollars.Cost, quality and access the three most important tenets of healthcare- are getting a shot in the arm. With the Obama administration’s signing of healthcare related provisions of the recent stimulus bill, the US is embarking on the electronic modernization of its healthcare system, this sounds great for IBM, and business is back for the IT Company. IBM has especially high hopes for the push to create an electronic health records (EHR) for the medical industry, a shot in the arm the company was waiting for. Widespread adoption of such standard would make patient data more measurable and comparable, which IBM expects could drive substantial sales of computer products and open new opportunities for services. The healthcare system is in desperate needs of an interoperable, state of the art healthcare IT, which can aggregate and analyze data and make it broadly accessible for both patients and service providers. Healthcare IT will lower costs for payers, providers and patients. It can provide a platform for eliminating waste through manual and paper based handoffs between hospital and labs, and it can distribute data without calling a doctor. Healthcare providers that have achieved successful collaborative patient-caregiver relationships will find that they are not only reduce the cost of care, but also improve satisfaction for patient, employees and medical staff. Analysts estimate that if all providers and hospitals adopted Healthcare IT (HCIT) appropriately and effectively, it potentially could produce annual savings in the healthcare sector of $80 billion. Healthcare systems worldwide are seeking ways to encourage physician and hospitals to adopt digital medicine. The US healthcare provisions in the ARRA (American Recovery and Reinvestment Tax Act) are designed to encourage widespread adoption of EHR (electronic healthcare record), the entire US medical industry is about to embrace EHR innovation, a bold push for the US government. IBM see this as an opportunity to goose growth, the big IT Company quickly launch an evasive maneuver, its prime objective join the party, and IBM will not going to play a catch up here. Big Blue (IBM) was already on the move, I’ll been tracking IBM for months so far the company was very busy It’s doing some deals with some of the world’s best. IBM had been working with physicians at facilities such as Mayo Clinic and Memorial Sloan-Kettering Cancer Center; and IBM is hiring medical professionals to work alongside more than 100 of its IT researchers. IBM is active and doing some “skunk works” in areas such as DNA and nanomedicine which applies nanotechnology the building of materials at a subatomic level to medicine- this is the future of medicine.
The IBM $100 M healthcare investment also includes a partnership with Peking University’s People Hospital in China to build a mobile platform to remotely manage chronic diseases, IBM goes global and it’s pretty serious about its investment. IBM is focused on empowering the healthcare ecosystem with some partnerships and sophisticated technology that improve patient care while driving operational efficiency. IBM healthcare systems address challenges in recruiting and retaining best talents; streamline the delivery of care by automating paper-based manual processes; and have a cost effective supply chain that ensures that the right medical supplies will be present when needed. IBM is delivering technology that connects patients, providers, and other members of patient’s support network. The technology will allow caregivers to improve access and the quality of care delivered to their patients, especially for those who have chronic diseases. IBM is making an aggressive push into services for the healthcare industry, for IBM the healthcare industry is a multi-billion dollar industry- a goldmine for IBM. The Mayo Clinic, which for decades has maintained one of the most complete sets of data about current and former patients, hired IBM to help assemble all that information into single, easily searchable healthcare system help database. Right now IBM and Mayo Clinic are taking the database one step further, dreaming up ways to cross- reference the information with genetic profiles of patients, using IBM’s Blue Gene supercomputer to do the heavy lifting and the magic of science. The Mayo Clinic sees a chance to propel medicine from a world of hunches to one of data-driven decision making, for better treatments. IBM sees this –as a chance to resell this particular service to others in the healthcare industry, worth $1.6 Trillion a year in the US alone, that was big! What innovations IBM bring to the healthcare industry? Healthcare sector are tackling increasing amounts of data and medical records. The demand is expected to grow, especially with the pressure to adopt electronic medical records and sophisticated diagnostics tools. IBM has created technology that allows medical records to be securely stored and it’s faster and reliable. It won’t be an easy upgrade of the healthcare system. The system is made up of ten of thousands of doctors’ practices, hospital chains, and insurers, all of which operate on different software platforms that don’t talk to one another.
As a result of this electronic medical records adoption, healthcare providers will be able to better harness today’s medical data and deliver information in real time to physicians and patients wherever they work so they can make faster, and more informed decisions in real time. IBM delivers a range of solutions to ensure that medical information is securely managed and mobilized, it will bring remarkable benefits of mobility and real-time information to healthcare systems existing technology investments.
For more see:
Techchaser
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