BALTIMORE, March 31, 2014 (GLOBE NEWSWIRE) -- vitaTrackr, an independent organization that is building a health data marketplace to facilitate the frictionless flow of data in healthcare today, announced its point of view that the health industry is on the cusp of entering the era of "health data neutrality."
"Health data neutrality" will universally invert the value model in healthcare. Instead of organizations competing on the value of data they have access to, they will compete on the basis of the value they add to an almost limitless set of health data," explained Brian Baum, founder and CEO of vitaTrackr. The winners will be those organizations that use data access to create a better consumer experience, achieve better health outcomes, lower costs, improve patient engagement, or perhaps accelerate research.
Several factors have established the foundation for this new era:
- The changing role of consumers in healthcare;
- The rising cost of healthcare and increasing transfer of cost to consumers;
- Ongoing industry efforts to define standards, security and address interoperability issues;
- Deployment of more advanced information systems across the industry;
- The exponential increase in data creating sources and data dependent applications.
The missing component is a functional marketplace that "connects all the dots." Once a marketplace is available, natural market dynamics will take over and the business penalties for not being connected will far exceed the requirements for data sharing. The tipping point in health data is not standards or interoperability. It is the application of data to create value.
In creating the health data marketplace, vitaTrackr has already invited a diverse cross section of 66 major health companies to participate in laying the foundation and jump-starting the marketplace. Based on the initial response, vitaTrackr expects to conclude discussions by May 15, with the 20 organizations that will comprise the founding consortium.
What we're finding is near universal agreement with the concept of health data neutrality and by extension the need for the free flow of data, what has been an unknown is a process to level the playing field. An industry-wide, independent, utility marketplace will address that void.
Health data neutrality may prove to be one of the most exciting periods of innovation in healthcare.
Everyone wins and the consumer will be the ultimate beneficiary.
"The future of healthcare will be data-enabled, and the future is listening!" said Baum.
To join the conversation, we invite you visit www.healthdataneutrality.com
For more information, visit www.vitaTrackr.com
About vitaTrackr, Inc.
vitaTrackr is a health data marketplace that facilitates the movement of health data from the point at which it is created to qualified destinations that value it. vitaTrackr is an industry-wide utility that benefits all, but advantages no individual sector or entity. The consumer, (data owner) will directly authorize data transfers.