Siemens Healthineers and IBM Watson Health Form Global Strategic Alliance
by Tech Mainstream Staff
October 12, 2016
IBM Watson Health and Siemens Healthineers recently formed a health-focused alliance in Population Health Management (PHM). The primary focus of this collaboration is to "help healthcare professionals navigate unprecedented changes propelled by a growing volume and diversity of health data, an aging global population, increasing prevalence of chronic diseases, changes in healthcare payment models, and the digitization and consumerization of healthcare." The PHM market is rapidly growing. PHM technology will increasingly become more important with the "shift from volume to value-based healthcare delivery" and therefore will be "helping providers effectively manage chronic conditions and prevent unnecessary system utilization.”
Both companies will "work together to jointly develop and deploy new PHM offerings leveraging each company’s expertise and assets, including those added to the Watson Health portfolio from acquisitions such as Phytel and Explorys." The ultimate goal will to produce results that "are increasingly focused on how patient outcomes are optimized, quality is standardized among individuals and across populations, and costs are reduced."