Know what allows Amazon to get you your Keychain of the Future delivered to you before you can get from your computer to your front door? Software. You see, Amazon has some of the world’s best software developers. The smart folks at Amazon just released Amazon Comprehend Medical which “will use natural language processing and machine learning to highlight key data points from EHRs and unstructured clinical notes that physicians can use to inform a patient’s care.” And they’ve partnered with Roche, PWC, and Deloitte to bring this to market. They’ve actually published prices and you pay for only the data you use. Cool. If you’re looking to perform medical cohort analysis or improve medical coding in revenue cycle management, then have at it. Still need something to fill the Amazon box? Here are some of the hottest Holiday gifts.
… and Amazon hopes you get your medical devices from the Choice brand. Why? Because they own it – and everything else. Amazon and the Arcadia Group announced the launch of an “Amazon-exclusive” brand of consumer-use medical devices for diabetes and hypertension management. According to Arcadia’s CEO, “Our products are best in class and very affordable. Over time we intend to incorporate voice-driven measurement interpretation as well as individualize wellness recommendations. This is all possible with Alexa and will provide patients with a wellness experience not available until now.” Great, soon Alexa will also tell me I’m fat. To see some of the worst and best choices on The Price is Right go here. The last 2 minutes are priceless. Pun, intended.
The smart device privacy debate is readily apparent in Kinsa’s smart thermometers, which can connect to an app to track you or your child’s illness. Now this is all above-board, but this flu season Kinsa is being paid by Clorox to use that data. Got a lot of smart thermometers heading into the fever range in one zip code? You better bet that Clorox will be increasing its advertising in that area. Hospitals and pharmacies can also use that data to tell when it’s time to stock up on flu-related products. But how far does that go? Will your Alexa start to recommend adding cough drops to your cart if it detects a sore throat like this patent says they will?? Sorry, this InsightCity story ended up just being a bunch of questions.
Is science data or is data science? Riddle me this. Speaking at the recent Nordic Life Science Days, Richa Wilson, Associate Director, Digital and Personalized Healthcare at Roche indicated “data will continue to evolve from clinical trials and registries and in the future from real-time and linked data. There was ~150 exabytes health data in 2015 and in 2020 it’s expected to grow to 2300 exabytes, mainly from digital health apps and hospital scans. Roche recently purchased Foundation Medicine and is working on open-sourcing health information. And just last week, Accenture, Merck, and Amazon announced the launch of a research platform to drive innovation in drug discovery and scientific research. The cloud-based informatics platform enables life sciences researchers and informatics professionals to quickly aggregate, access and analyze research data from multiple applications. Fine, it’s probably just Excel with a slick GUI. Just kidding.
Cigna and Express Scripts have received their parents’ the Justice Department’s blessing to go ahead with their wedding merger. The health insurer and pharmacy benefit manager say they’re a good fit for each other since they’ll be able to share information about their customers’ medical expenses that will help them manage patient health better. But the announcement has got to sting a bit for CVS Health and Aetna, who have been waiting on DOJ approval for their merger since before the Cigna-Express Scripts deal was announced. Visual/meme representation of that here. You’ve gotta think that Amazon’s ever-threatening encroachment into the healthcare industry is driving some of these vertical mergers between health insurers and PBMs.
Yep. Another Amazon story. We promise to dial it back a notch going forward. Unless we don’t. Way back in April it was rumored (and reported by InsightCity) that Wal-Mart would buy the online pharmacy PillPack. Well, that didn’t happen, but don’t cry for PillPack because according to a press release, Amazon just did. While you can’t cry for PillPack, if you watch the World Cup, you can cry for Germany. FYI, PillPack delivers medications in pre-sorted dose packaging for people taking multiple prescriptions. Want to know why we keep harping on Amazon (and Apple and Wal-Mart)? Witness the market power they have via an almost immediate downgrade of Walgreens after the PillPack announcement. In fact, “Walgreens, CVS and Rite-Aid lose $11 billion” in market cap after the announcement. The question now becomes, what will Wal-Mart do?
Been a while since Amazon has graced the annals of InsightCity, at least a few weeks. They’re back. Not wanting to be left out of the secret healthcare group club, CNBC reported Amazon created a secretive group called Grand Challenge, led by the creator of Google Glass (Babak Parviz). The group, which also goes by the names 1492 and Amazon X (because one code word is not enough), has more than 50 people working for it. What are they working on? First, they are “working with Fred Hutchinson Cancer Research Center in Seattle, attempting to apply machine learning in ways that can help prevent and cure cancers.” Second, “internally dubbed Hera (more code names), which involves taking unstructured data from electronic medical records to identify an incorrect code or the misdiagnosis of a patient.” Cool, but that’s nothing compared to Amazon’s “Interesting Finds” section.
The healthcare industry can breathe a little easier, at least for now. Amazon has backed off on its plans to sell pharmaceutical products to hospitals. Logistical concerns are part of the pull-back, which is kind of surprising since that’s like Amazon’s whole thing, right? Turns out, cold chain is hard. It’s actually more than just that—while Amazon certainly has brand recognition to go around, not even it can disrupt loyal vendor relationships maintained between hospitals, drug distributors, and group purchasing organizations. Pharmacies and drug distributor stocks went up after the announcement, but they better keep their heads on a swivel—there’s still that health venture with Berkshire and JPMorgan to be worried about. Last we heard, they were on a CEO search.