DIGITAL HEALTH BRIEFING: Nokia remains bullish on digital health efforts — Zocdoc uses AI for insurance checker … – Business Insider


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NOKIA REMAINS BULLISH ON ITS DIGITAL HEALTH
OFFERINGS:
 Nokia remains confident in
the potential of its digital health business, despite having
to writedown 141 million
euros ($164 million) in the third
quarter, according to
Reuters. The Finnish telecommunications company dipped its toes
in the digital health market in 2016, purchasing Withings,
a smart health and fitness wearables maker, for 170 million euros
($197 million). Nokia’s confidence likely comes from the rapid
growth of the booming global healthcare market, which is
projected to grow at an annualized rate of 25% between 2017 and
2024 to reach $379 billion, according to Global
Market Insights
.

While new to digital health, Nokia’s experience with
mobile devices positions it well to succeed in the mobile
health (mHealth) market
. mHealth includes all aspects of
digital healthcare that involve mobile devices, including apps
and health monitoring devices, like fitness trackers. This
segment of digital health is expected to outpace the overall
digital health growth rate — from 2017, it’s forecast to grow at
an annualized rate of 35% to $200 billion by
2024
.

Nokia’s has made a number of moves in the digital health
space beyond its acquisition of Withings:

  • The company launched its Health
    Mate app in
    June. 
    The app will serve as a
    central hub for consumers to evaluate data collected
    from Withings’ existing health tracking wearables line-up
    as well as forthcoming products.
  • The business unit’s growth strategy is focusing on
    patent, technology, and brand licensing to facilitate faster
    growth in the market. 
    That’s
    according to Nokia CEO Rajeev Suri on the company’s
    Q3 2017 earnings call Friday. While the company took a hit from
    the Withings purchase, Suri reaffirmed Nokia’s plans to
    leverage its global brand name and technological experience to
    take advantage of the digital health opportunity.

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bii wearables forecast 2

BI
Intelligence

NEW ZOCDOC FEATURE USES AI FOR APPOINTMENT
BOOKING:
 Zocdoc, the online medical
scheduling company, launched an
AI-powered insurance checking feature, which aims to reduce major
scheduling pain points for both patients and providers. Patients
will now be able to quickly add their insurance data and get
coverage information just by uploading a picture of their
insurance card. Zocdoc, using an artificial intelligence (AI)
model that recognizes patterns on thousands of types of medical
insurance cards and can match them with a known carrier and plan,
reducing a primary pain point for the majority of US consumers
—  77% of insured Americans stated they would like an easier
way to ensure their doctor is in-network when booking
appointments, according to
a Zocdoc-Kelton Global Insurance Confidence survey. AI
technology has the potential to transform the patient experience
by providing the means to create a more tailored, personalized
experience at scale — 84% of healthcare executives believe
AI will revolutionize the way they will
gain data from and
interact with customers, according to Accenture.bii top insights from insurance customersBI
Intelligence

SAMSUNG LEVERAGES ITS START-UP INCUBATOR TO PUSH FURTHER
INTO DIGITAL
HEALTH: 
Samsung announced that it
will support two digital health start-ups that will be spinning
off from the firm’s C-lab incubation program.

  • PixelRO helps people with presbyopia (an
    eye condition) use their phones. The company uses a transparent
    screen cover and a mobile app to sharpen the display,
    essentially replacing glasses for older citizens.
  • 1Drop is
    a low-cost blood glucose
    measurement solution. Users place a device on the back of their
    smartphones over their camera, which is then used
    to perform colorimetric analysis of a blood sample.

The
two companies will likely
bolster Samsung’s larger digital health
push.
 In 2014, the firm launched the
Samsung Digital Health Initiatives, which uses open hardware and
software platforms to accelerate the development of digital
health technology. Samsung also invested $50 million into a
start-up fund for digital health companies. The tech giant’s
strategy is to farm innovative startups and then invest, acquire
or partner those that show potential. In contrast, Samsung’s top
competitor Apple, uses its
deep pockets to develop digital technologies
internally.  

GROWING USE OF CONSUMER HEALTH APPS AND ELECTRONIC
HEALTH RECORDS DRIVES PRIVACY
CONCERNS:
 The lack
of transparency and regulation around how health and
wellness apps collect and use personal information should be a
big concern for consumers, according to Rice
University medical media expert Kirsten Ostherr. Speaking at a
Department of Health and Human Services symposium in Washington
last week, Ostherr suggested that this could lead to broader data
privacy issues, particularly given the lack of awareness around
how data breaches, such as the one experienced by Equifax,
could affect internal electronic health record (EHR)
systems. EHRs are becoming increasingly widespread, particularly
by hospitals in the US. BI Intelligence forecasts that the
rapid spread of electronic health records (EHR) will continue,
with more than 760,000 physicians in the US, or upwards of 80% of
all doctors, working at a facility that uses an EHR system by
2019. By 2025, nearly all facilities in the US will use
EHR, with only a small fraction of private offices,
generally owned by older physicians, still relying on physical
records. Even the laggards may be phased out faster than
expected should governments, either national or local, implement
regulations that make the use of EHR systems a requirement.



bii EHR usage forecast

BI
Intelligence

PARTNERS CONNECTED HEALTH IS MAKING IT EASIER FOR
PATIENTS TO SHARE DATA:
 Partners
Connected Health, a part of integrated health systems
company Partners Healthcare, is working with data
connectivity provider Validic to give its clinicians and
researchers access to patient-generated health data from over 420
consumer and clinical health devices. Physicians can use
this data to provide efficient, evidence-based care. It can also
be integrated into care plans and electronic health records (EHR)
for patients. Increasing adoption of fitness devices
will contribute to a spike in 
consumer-generated
data. The global wearable medical devices market is poised to
grow at an annualized rate of 17% over the next eight years
to reach approximately $23.8 billion by
2025, according to Research
and Markets. The resulting patient health data
sets will likely speed the development
of artificial intelligence (AI) for healthcare use cases.
These datasets can be used to
train algorithms to process more accurate results more
quickly, according to
a study by the National Health Service. 

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