Over the past decade, the Leading Health System (LHS) market has experienced rapid advancements in technology and digitization. Aided by improvements in interoperability, digitized clinical data have created a new and increasingly valuable asset for health systems. LHS are harnessing the power of clinical data with sophisticated analytics, such as AI and machine learning. However, data security and patient privacy remain a top concern, particularly as health system arrangements with big tech increase in prominence.
Consumer behavior has also demonstrated a growing maturation of digital health care and data sharing. A new report from Stanford University identifies an increase in the use of digital health tools by consumers over time, increasing the amount of data available to drive advancements in care delivery.
These trends, as well as the ONC’s recent 21st Century Cures Act Final Rule, have forced LHS to evolve their data compliance strategies, particularly as it pertains to sharing clinical data with third party entities. With the ONC’s push toward greater data sharing and availability, LHS are increasingly evaluating the opportunity to commercialize their clinical data.