Google Makes An Investment In Mobile Healthcare Strategy
…By maximizing reach through technical resources and widening access to care, conceivably better outcomes are achieved at lower cost through telemedicine resources…
Google is building its healthcare technology presence…
Early in August 2017, Google acquired Senosis Health; a highly specialized app / smartphone technology company that focuses on healthcare-related uses. Financial terms of the buy are presently not known. Google ( NASDAQ: GOOGL ) is laying the groundwork to become a growing player in the medical market and mobile capabilities are an important attribute for them to possess to be competitive.
Specialized patient care…
Senosis Health is based in Seattle. The company’s technology aligns with the processing and user capabilities of smartphones to conduct various types of diagnosis and monitoring. Some of the healthcare conditions Senosis patient care technology focuses on and connects with are jaundice in newborns, plus pulmonary / respiratory and blood / hemoglobin monitoring in other patient groups. Existing smartphone features such as camera and microphone are utilized and for some diagnosis / monitoring functions, add-on components are required. Presumably, Google is integrating hardware, mobile technology and custom apps to devise a fully integrated healthcare monitoring solution for consumers, patients, providers and payers.
Telehealth and technology cultivate change…
The deal is significant for several reasons. More companies are finding ways to merge existing technology with new advances and getting maximum use of hardware and programming technology. The wearables market is hot and there is a continual stream of upgrades and new offerings being launched. Smartphone healthcare technology locks into the wearable market sector nicely plus offers its own audio / visual / remote monitoring attributes as well.
Telehealth is becoming its own industry. The ability to diagnose and / or monitor patients remotely is not only convenient; it can fill in geographic gaps where caregivers and facilities are at an inconvenient distance from patients. It also enables fragile patients to be monitored closely without being admitted or making repeated visits for ongoing clinician assessment.
Google’s largest competitors are the usual suspects…
Google may also be able to make further revenue via commercialization of HIPAA compliant data generated from its devices and apps. For now, Google’s mobile device / consumer electronic offerings are slim compared to Apple and Samsung but Google has implied it has serious plans for healthcare. Amazon’s foray into the sector with Alexa and other offerings makes it worth monitoring for future healthcare-related developments.
Looking ahead, it will be interesting to learn how Google plans to integrate the Senosis Health lines into its healthcare product development and marketing initiatives. While the Senosis deal is not a multi-billion dollar arrangement at the start, it is clearly a strategic building block for Google’s present and future healthcare business plans. Another consideration is if the technology they develop will be shared with other companies in the mobile space like Apple and Samsung or perhaps medical device firms and healthcare provider organizations centered around telehealth and diagnostics. Looking ahead, we can expect Google to fortify its position to be an innovative and competitive contender in the healthcare technology sector.
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