Can Tech Giants Take Over Healthcare?

Tech (and retail) giants have shown increasing interest in the healthcare sector in the past decade, and we’ve been discussing their advancement for years. They might have chosen somewhat different tactics, like Google investing heavily in AI with DeepMind and Verily, or Microsoft focusing on the EMR and cloud solutions, one way or another, billions of tech dollars have flown into these ventures. 2022, however, presented a new chapter: a number of major non-healthcare players decided to step in as primary care providers. It started with Amazon acquiring primary care provider One Medical for $3.9 billion reported in late July – apparently rendering the Amazon Care model obsolete. And the company was set to go on further and eyed another large target, Signify Health – although was eventually bid out by CVS, which announced to buy Signify Health for $8 billion, beating Amazon in the process.  The news was still hot when ByteDance, the parent company of TikTok coughed up some $1.5 billion for China’s largest private hospital chain, Amcare Healthcare. And apart from these mega-deals, dozens of smaller acquisitions happened and collaborations were launched. There is a monumental shift underway, but where will it lead us? Could tech giants just take over healthcare? The TL;DR answer is no, for sure not entirely. But they will profoundly change the landscape. Here is a list of relevant factors you need to consider when thinking about what will ha...
Source: The Medical Futurist - Category: Information Technology Authors: Tags: Artificial Intelligence in Medicine Future of Medicine amazon digital health google microsoft primary care tech giants Future of healthcare tech giants in healthcare Source Type: blogs