Important Industry News
February 2018 Financial Technology, Data, and Analytics
Amazon, JP Morgan and Berkshire Hathaway form a venture to address a new care model for their employees
Although details of the venture are unclear, we know that Amazon will eventually enter the prescription drug market. The company is a master in complex logistics and last minute delivery which comes handy in the pharma distribution business. As for the new company, which covers over 1.1 million employees, we think they will start forming a health insurance plan or find ways to negotiate with providers and other vendors. With such a massive purchasing power, Amazon can easily use the platform to attract other self-insured employers; smoothing its path to get into the prescription drug business in a serious way. At the end of the day, we believe that life will not be the same. As Jeff Bezos said, we will pursue this venture with talented experts, long-term orientation and a beginners’ mind.
Apple enters the PHR market
Other companies like Google and Microsoft, lost hundreds of millions of dollars trying to build a PHR platform and failed miserably. This time is different. The confluence of better technologies and rising consumer empowerment is making the notion of PHR a reality and Apple is the one to make it happen. Apple has already enlisted the support of a number of top hospitals to participate in rolling out the service. We will see a good number of companies that will build value added services on top this service bringing closer the notion of smartphone doctor.
Optra Health launches Alexa-powered AI genomics Platform
The OptraGURU combines AI-driven iPhronesis analysis platform for healthcare and life sciences clients. Now the company is launching a new genetics-focused product specially designed for consumers, genetic counselors, and other genomics researchers.
The convergence of AI and conversational technologies like Alexa, is having a transformative effect on how genetic results are delivered and communicated. At the consumer level, Optra’s platform looks to help users better understand genetic testing results ordered by a provider. By asking an Alexa device loaded with OptraGURU to access their report, consumers can listen to an understandable explanation of their genetic data and ask the system specific questions about their results. Genetic interpretation has been a luxury only available to a few; not anymore!