Worldwide Healthcare
Decision Support and IBM Watson market 2013-2019: Industry Monitor.Co
WinterGreen Research announces that
it has published a new study Healthcare Decision Support and IBM Watson Market
Shares, Strategy, and Forecasts, Worldwide, 2013 to 2019. The 2013 study has
271 pages, 87 tables and figures. Worldwide healthcare cognitive computing
markets are poised to achieve continuing growth as the healthcare delivery
system responds to new products. Growth is achieved in response to changing
technology, better analytics, and new information systems that leverage natural
language, and changing market conditions.
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Healthcare decision support markets
consist of traditional market participants led by McKesson and Watson from IBM.
IBM Watson offers structured and unstructured data in combination. This
represents a major breakthrough in what kind of decision support can be
offered.
IBM Watson can provide a far more
differentiated testing assessment. Watson knows what tests are relevant to
further characterize a particular patient condition and what tests are not.
It is a great help to physicians to
have an assistant that is able to have read the latest journal articles and is
loaded with medical information to recommend what tests may be relevant in a
particular situation. Wrong tests, tests that are not useful in a particular
situation, account for 30% of the costs of healthcare delivery in the US. This
is a lot. To have a new system available that addresses these issues is great.
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IBM Watson is initiating a new era
of cognitive computing that extends the tabulator and application program
intensive enabling new market opportunities based on cognitive performance.
Watson is so powerful and so new that the uses for it are not even defined yet.
The tools and methods released by natural language computing systems are remarkable.
They are very exciting.
Watson is comprised of a core
engine. This engine is more powerful than anything that has been designed by
humans before. To the credit of IBM, the first purpose that Watson has been put
to is to improve healthcare delivery. To those analysts following Watson, there
is tremendous promise in the offing.
IBM concentrates on building end to
end systems that are able to adapt of market changes. While this may make the
IBM product set seem overly heavy in the short run, in the long run, this is of
enormous value to clients as proved by the company market leading position in
innovation software.
This forecast below is predicated on
the assumption that IBM makes available the Watson cognitive computing
capability worldwide as a SaaS tool immediately, and people with smart phones
learn that for five cents they can access solid medical opinions relating to
particular symptoms. This does not turn the consumer into a healthcare
provider, but it gives the consumer more power in dealing with the physician
and the provider.
Just as the mother that took her
child to the doctor this week in February 2013, and said, "I think it is
an appendicitis" and the doctor said "No, it is influenza.",
after the appendix broke and threatened the life of the child, the mother was
angry, the physician was apologetic. With Watson at her side, the mother would
have had more credible authority with the doctor.
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This scenario really happened to an
esteemed marketing manager in Minnesota, USA this week in February 2013. Watson
has a lot to offer the consumer, without making the consumer a doctor; it
brings more information and authority to the patient - physician interaction.
So also, the physicians gain a
valuable assistant at their side when they can access Watson for $60 per
physician per month. This cost represents two cents per patient encounter,
hardly a blip on the bill to the patient, but lends incredible value to the
patient - physician interaction, bringing the latest research to bear on the physician
diagnostic and therapeutic decision making process.
Watson can be loaded with the latest
research results. No physician can track all the latest medical research; there
are intense volumes of it. Any one physician can only hope to read a small portion
of what is published in his or her own field. Watson knows it all. It is
available to share what it knows at a small fee.
Hemendra Parmar
State Tower
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030
sales@industrymonitor.co
