In a bid to bolster presence in the healthcare sector, Alphabet’s Inc. GOOGLdivision, Google recently teamed up with Chicago-based, American Medical Association (“AMA”). The latest partnership has decided to launch a medical and health data challenge which invites innovative ideas for developing data sharing from health monitoring devices — for instance a mobile app or wearable device that can make it easier for people with a chronic disease to share data with doctors.
With the Google-AMA challenge, the three best ideas submitted will win a combined $50,000 in credit for Google Cloud.
Patient generated data will help AMA to improvise the medical system by improving patient-doctor relationship. Further, this will help in enhancing clinical outcomes, physician workflow and reduction in healthcare related costs.
Google aims to provide an easier and a smoother mode of sharing medical records such as historical lab results related to any disease. This will help patients to carry their case history in a computer readable format, making it a convenient and a hassle free process.
We believe the latest idea of utilizing medical data shared by easy to use app or device will boost Google’s healthcare product portfolio.
Coming to the price performance, shares of Alphabet have returned 21.1% over a year, outperforming the industry’s rally of 8.1%.