August 19, 2019

A few healthcare enterprises have launched commercial programs offering their innovation models and their patient data as a bundled service to startups and researchers. However, there are concerns about the monetization of patient data and significant challenges in generating insights from healthcare data using AI algorithms. We have included a collection of articles on these topics in this issue.

In my latest podcast interview with Aaron Martin, Chief Digital Officer for Providence St. Joseph Health, we cover a wide range of topics from healthcare chatbots to innovation models and the “needle-movers” that he and his team are focused on. Aaron, who also oversees a $300 million investment portfolio of 16 companies for Providence Ventures (including Xealth, whose CEO Mike McSherry was my guest on a recent podcast) provides some useful insights and tips for startup founders. Here’s my favorite: don’t overbuild your product. 

I also wanted to let you know about a webinar I am doing on August 29, 2019, with Ed Marx, CIO of Cleveland Clinic, on developing digital transformation roadmaps. Look forward to seeing you there.

Digital transformation in healthcare: our picks for the week

Can Highmark successfully commercialize the healthcare innovation process?

Highmark’s innovation center is open for business to startups who want to validate and test their products using Highmark’s member data.

Mercy’s IT arm launches network for clinical data, analytics

Mercy Health partners with SAP to build a pooled clinical data repository that will be available to researchers, starting with Mercy Health’s own data.

DNA Data Shared in Ways Patients May Find Surprising

Patients are mostly unaware of data monetization and data sharing agreements by health systems.

DeepMind’s Losses and the Future of Artificial Intelligence

AI has great potential, but realizing this potential comes at a great cost. Google is losing $1 billion a year on DeepMind, with no end in sight. Side note: if you haven’t watched the AlphaGo documentary on Netflix about how DeepMind defeated the reigning world champion of the ancient board game Go, I’d say – go for it.

AI Algorithms Need FDA-Style Drug Trials

A group of academic researchers makes the case for AI algorithms to go through a full-blown FDA approval process similar to clinical trials for drug launches.

Novartis violated FDA’s sacred principle: In God we trust, all others must bring data

Data integrity and process issues have invited the displeasure of the FDA and created a PR nightmare for Novartis. The more important issue here is that the learnings from Novartis’ process lapses could be pertinent for emerging regulation of AI algorithms in healthcare.

Report: Most Health Systems Still Lack Long-Term Digital Strategy

Healthcare Innovation covered our recent research on the current state of digital transformation in healthcare.

How voice technology could speed up EHR searches

Writing by hand: 15 words per minute. Typing: 40 words per minute. Texting: 30 words per minute. Speech? 150 words per minute. The case for voice enabling EHR workflows and documentation.

The latest from Damo Consulting

 Podcast – Episode #20: With Aaron Martin, EVP and Chief Digital Officer, Providence St. Joseph Health

“Our mission is to move consumers from an offline to an online relationship.”

Research Report: The current state of healthcare digital transformation 

Our latest research paper explores the current state of digital transformation in healthcare.

The WITCH Monthly Monitor: Monthly update on major global IT consulting and services firms in healthcare (July 2019) 

IT consulting firms are witnessing declining contracts in the healthcare segment due to industry consolidation.

The WITCH Report: 2018 Annual Review 

A review of the financial and market performance of global technology firms in healthcare.