Google, Other Tech Giants to Reshape Healthcare, PwC Report Says | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Google, Other Tech Giants to Reshape Healthcare, PwC Report Says

April 10, 2014
by Gabriel Perna
| Reprints

The healthcare industry will become more consumer friendly, thanks in large part to technology giants like Google, Apple and Samsung, according to a new report from the Health Research Institute at PricewaterhouseCoopers (PwC).

PwC’s Health Research Institute surveyed consumers and identified a $64 billion marketplace in common health diagnostics, treatments and services that could shift from traditional healthcare avenues to new entrants. Many of those entrants are Fortune 50 companies, including seven retailers, eight technology and telecommunications companies and two automakers.

The report pointed to Google’s development of Calico, which is focused on aging and associated illnesses, as an example of its interest in healthcare. It noted how Samsung created a smartphone this year with a built-in heart rate monitor and how Apple was issued a patent for a seamlessly embedded heart rate monitor for an iPhone.

“To meet looming revenue threats, traditional healthcare companies will have to partner, innovate or can face fading away.  Meanwhile, the nimble and innovative ‘New Entrants’ can benefit from partnerships with existing healthcare organizations, which understand the complex regulatory and reimbursement landscape,” states Kelly Barnes, PwC's U.S. health industries leader. 

In the survey, more than 50 percent of respondents said they would opt for new services for a range of minor tests and procedures such as examining a rash or checking vital signs at home with smartphone device.  More than one-third would consider alternatives for more sophisticated care such as infusion therapies. 

One area of consumer health that PwC points to is price and quality transparency. They say that in three years venture capital firms have invested $400 million in start-ups targeting price transparency. One entrant in this space, Castlight Health, recently had an impressive initial public offering. More than half of the people surveyed by PwC want to shop for healthcare, similar to how you would on Amazon.com.

Get the latest information on Health IT and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.

Learn More

Topics

News

Epic Wins Labor Dispute in Closely Divided Supreme Court Decision

Epic Systems Corporation won a major labor-law ruling in the Supreme Court on Monday, centering around the extent of corporations’ right to force employees to sign arbitration agreements, and with a 5-4 ruling in its favor

Survey: Two-Thirds of Physician Practices Seeking Out Value-Based Care Consulting Firms

Most physician organizations are not prepared for the move to value-based care, and 95 percent CIOs of group practices and large clinics state they do not have the information technology or staff in-house needed to transform value-based care end-to-end, according to a recent Black Book Market Research.

Cumberland Consulting Buys LinkEHR, Provider of Epic Help Desk Services

Cumberland Consulting Group, a healthcare consulting and services firm, has acquired LinkEHR, which provides remote application support, including Epic help desk services.

Population Health Tool that Provides City-Level Data Expands to 500 Cities

A data visualization tool that helps city officials understand the health status of their population, called the City Health Dashboard, has now expanded to 500 of the largest cities in the U.S., enabling local leaders to identify and take action around the most pressing health needs in their cities and communities.

Trump will Nominate Acting VA Secretary Wilkie for Permanent Position

Just a day after the Department of Veterans Affairs (VA) and Cerner inked their $10 billion EHR (electronic health record) deal, President Trump said he would be nominating Acting VA Secretary Robert Wilkie for the permanent position.

ONC Names API Server Showdown Stage 2 Winner

The Office of the National Coordinator for Health Information Technology (ONC) has named 1UpHealth as the Stage 2 winner of the “Secure API Server Showdown” challenge.