Over the next couple decades, the healthcare industry will undergo major disruptive changes. Part of this will be the result of Obama care. And of course, a key factor will be the onslaught of the Baby Boomers, as they reach the retirement zone.
To deal with the costs and the complexities, the federal government is pushing hard for medical records. It seems like no-brainer, right?
Well, the major health insurers are certainly waking up. For example, this week Aetna (AET) agreed to shell out a cool $500 million for Medicity.
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FeedAetna Strikes a $500 Million Deal for Medical Records
Continue reading Aetna Strikes a $500 Million Deal for Medical Records
Google (GOOG) enters medical industry
Google (NASDAQ: GOOG) will enter the medical records business with The Cleveland Clinic, one of the top hospitals in the world.
According to The Wall Street Journal (subscription required), "Under the pilot, patients who already use Cleveland Clinic's personal health record system can securely share medical information such as prescriptions, conditions and allergies between the Cleveland Clinic system and a Google health-profile online."
The program is a good idea. Patients' records currently are tied to the data held by doctors and hospitals. If a patient wants to access his data or share it with other health-care providers, he has to request and wait, sometimes for days, to get information that could be very useful in his treatment.
The Google program may ruffle feathers of both doctors and health-care software management companies. Doctors are concerned with keeping records private. Once they are stored and accessible on the web this will be harder to control. Software companies that supply programs for managing medical records may find that the Google system competes with some of their business based on organizing and storing patient information.
But, for the patient who now has new-found access to his own data, the program gives him power over his own medical data.
Douglas A. McIntyre is an editor at 247wallst.com.
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