Could the Affordable Care Act (also known as Obamacare) inspire new IT startups and innovation? According to this article by Brain T. Horowitz, it’s quite possible. With so many companies now racing to meet regulations around the ACA, there is plenty of money and business to be had by those who either help make sense of medical decision making, or help combine regulation with existing practice.
The basic idea is this: through stronger use of data which, up to this point, was isolated between hospitals, all healthcare can be strengthened to a point where IT healthcare is a standard that other IT industries look to. As quoted in the article :
“The combination of Obamacare regulations, incentives in the Recovery Act for doctors and hospitals to shift to electronic records, and the releasing of mountains of data held by the Department of Health and Human Services is creating a new marketplace and platform for innovation—a health care Silicon Valley—that has the potential to create better outcomes at lower costs by changing how health data are stored, shared and mined,” New York Times columnist Thomas Friedman wrote in his May 25 column. “It's a new industry.”
More Data For Doctors, Better Results For Patients
Open data for doctors to access and learn from might also lead to revolutions in how disease is identified and treated, as open data will allow doctors to more readily see gaps in care and monitor patients’ conditions, the article states.
All of this is co-dependent with the ACA itself: the Affordable Care Act won’t be successful if it can’t prove that money and lives are being saved, and IT innovation won’t occur unless it can support ACA.
Read the full article here :http://www.eweek.com/innovation/obamacare-open-data-could-drive-health-it-innovation/