IBM, Siemens partnership to focus on population health management
IBM Watson Health and Siemens Healthineers announced a five-year “global alliance,” partnering to develop solutions for population health management. The two companies are leveraging a rapidly growing industry segment expected to both improve patient outcomes and be worth more than $30 billion by 2020.
Providers are increasingly moving toward population health management (PHM) systems. The rise of electronic medical records (EMR), an aging population with chronic disease and increased emphasis on value-based care all set the stage for PHM to have a massive impact on the industry. However, it requires a synthesis of disparate technologies and a multidisciplinary team; something the IBM/Siemens partnership could offer in spades.
“Combining our strengths, Siemens Healthineers and IBM can effectively help providers transition to a value-based healthcare environment,” said Matthias Platsch, head of Services at Siemens Healthineers, the division of Siemens AG focused on imaging and molecular medicine. “We will bring the power of Siemens Healthineers’ extensive relationships with providers and our deep domain expertise in clinical workflows, services and digital health technologies to bear to help bring population health management offerings to healthcare providers.”
Siemens Healthineers will offer PHM solutions and services from IBM Watson Health, including value-based analytics and reporting. In addition, Siemens will have access to IBM Watson Care Manager, a software package that integrates patient health information with avenues of care.
Siemens and IBM will also jointly develop new PHM offerings, taking advantage of each company’s experience in the field.
Siemens Healthineers, with a revenue of almost $13 billion in 2015, is one of the largest health technology providers in the world.
IBM Watson Health was launched in 2015 to provide insight into the massive amounts of patient data generated every day. Watson Health masks individual patient identities to comply with HIPAA regulations, allowing analysis of clinical, research, and social health data.