NEW YORK, Oct. 2, 2014 /PRNewswire/ -- Over 100 significant partnerships occurred in Big Data and healthcare in the last two years, according to Kalorama Information. The healthcare industry is currently undergoing a revolution of sorts, which revolves around the acquisition and employment of Big Data. Big Data consists of the enormous datasets that flow daily from healthcare providers, manufacturers, regulatory bodies, scientists and others. Those working with Big Data are seeking insights into the management of these vast datasets.
In the U.S., the government has incentivized Big Data: the Obama administration's $14.6 billion program launched in 2009 encourages adoption of electronic medical records. By making "meaningful use" of computer systems, hospitals are eligible for millions of dollars in government funding. Given such incentives and the potential for savings that proper use of Big Data entails, players in the healthcare marketplace are scrambling to find ways to make Big Data work for them.
The Kalorama Information report, Big Data and Healthcare, outlines in tabular form over 130 key partnerships, acquisitions, alliances, and organizations that have been formed in an attempt to meet these challenges. It includes as well a Big Data glossary noting companies, projects, platforms, products, partnerships, and organizations involved in Big Data ventures.
Some of these partnerships include
- Google Ventures in May made its largest medical software investment yet, providing the bulk of a $130 million financing for Flatiron Health Inc., which aggregates cancer-patient data from a wide variety of sources to help doctors make treatment decisions
- Bayer, through clinicalstudydatarequest.com, has begun sharing data from all its clinical studies with all qualified researchers
- Forest Laboratories and Intermountain Healthcare entered in April 2014 into a multi-year collaboration to conduct outcomes research leveraging a next generation platform for generating insights into what works for patients
The utilization of Big Data concepts comes at a favorable time for the healthcare industry, as executives are seeking to improve outcomes and control costs. It is estimated that in the U.S. healthcare sector, if used productively, Big Data could create more than $300 billion in value each year. No matter the locale, a key driver toward the use of Big Data is cost savings, as well as the patient benefits to be derived from the use of evidence-based medicine on a large scale.
The market research publisher's report Big Data and Healthcare includes a discussion of the potential and challenges of the use of Big Data in healthcare and is the result of data gathered from government reports, company product literature and other corporate brochures and documents, as well as information found in the scientific and trade press. The report can be found at Kalorama Information: http://www.kaloramainformation.com/redirect.asp?progid=86703&productid=8346613.
About Kalorama Information -- Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.
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SOURCE Kalorama Information