The World Economic Forum’s Annual Meeting that took0 place from January 22nd to 25th in Davos, Switzerland stirred an unsettling anxiety amongst the tech giants and the healthcare industry experts. Many ideas and future plans were uncovered by the key technology players giving the global healthcare industry some hopes for the future. Intermountain Healthcare’s CEO Marc Harrison believes that healthcare industry is still inefficient to strike a balance between the data retrieved from the huge number of patients that they cater to and maintaining or storing it for future usage. But, with big plans shared by Amazon and Microsoft including other technology players, he seems positively look forward to the future.
Intermountain operates 22 hospitals and runs SelectHealth insurance plan with almost 815,000 members who’s on and off record data is of utter importance to them. This data can prove extremely beneficial in terms of understanding predictive analytics and social biometrics of these members. Peter Lee, the corporate vice president of Microsoft Healthcare, who also was a prominent participant in the World Economic Forum’s Annual Meeting showed interest in the healthcare sector. Microsoft has been trying to capture the healthcare sector since the time Peter Lee joined it. After a debatable session of what can be done and what cannot, finally, Peter Lee’s team has a vision and a mission. Microsoft wants to get into human data storage. Human genome can be extensively used for interpret important information like traits, ancestry, mutations and gene interlinking for scientific developments and storage of human genome is a big concern. One human genome can take up 200 gigabytes of space and Microsoft wants to jump in to solve this issue. Amazon has also acquired PillPack, internet pharmacy start-up in June 2018 and its plans for a joint healthcare venture with JPMorgan and Berkshire Hathaway has compelled its competitors to pull up their socks and plan their entry in the healthcare sector.