How International Business Machines Corp. (NYSE:IBM) Is Seeking To Transform Healthcare Industry
International Business Machines Corp. (NYSE:IBM) has figured out that its Watson cognitive computing technology can help lift the barriers to access to elite healthcare. Through Watson Health, IBM is building a health database that can be queried by providers anywhere in the world to enable them improve the quality of the services they render to patients.
However, if there is an area that International Business Machines Corp. (NYSE:IBM) is showing great interest in working with many partners, it is in the healthcare. According to Watson Health’s VP, Kathy McGroddy, there is no one company in the world that is capable of transforming a whole industry on its own. McGroddy says it takes a village to make a meaningful change and that explains why IBM is aggressively pursuing healthcare partners.
The mission and partners
The vision of IBM’s Watson Health is to make it possible for healthcare providers anywhere to access top-tier and up-to-date information on new treatments for various conditions. It is a case of pulling together health resources and distributing them to expand access to innovating healthcare services.
Partners of IBM’s Watson Health include Memorial Sloan Kettering Cancer Center (MSK), Mayo Clinic and CVS Health Corp (NYSE:CVS). But IBM is still in the process of recruiting partners in pharmaceutical and hospital fields.
The thinking at International Business Machines Corp. (NYSE:IBM) is that there is a massive amount of health data that is generated daily that can be harnessed to enhance healthcare delivery.
International Business Machines Corp. (NYSE:IBM)’s Watson Health is working with oncologists at MSK to help train Watson to think like the experts. Because MSK has doctors who have specific expertise in the treatment of certain cancers, they are sharing their knowledge with IBM so that the information can fed it into Watson Health’s database. With that, oncologists in other hospital facilities can gain quick access to the top-tier cancer care exclusive to MSK oncologists to enable them provide elite cancer treatment to their patients anywhere in the world.
International Business Machines Corp. (NYSE:IBM) thinks of it as a way to bring advanced treatment to low-income patients.
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