Interoperability is the big problem that seems to smack all new entries in the healthcare innovations area. While many technology companies see a huge opportunity in the $3.5 trillion industry, the inability to share data seamlessly between providers for clinical and billing information is preventing many from scaling up, according to a report by CNBC.
In addition to stopping technology companies from growing in the healthcare space, interoperability may also be contributing to the ever-higher prices in the market, according to Paul Markovich, CEO of Blue Shield of California, who spoke with CNBC.
According to Markovich, even the efforts of big tech businesses like Apple, with its Health Records initiative, could be a 10-year project to get data from every hospital, clinic and health plan without a new, concerted effort to improve health data sharing.
Fortunately, signals from HHS on efforts to improve patient access to health records are promising, he said. And Blue Shield of California is also jumping into the issue through new pilot programs and technology partners.
See the full story below:
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."