New health IT opportunities may becoming available in the Commonwealth. Political and business leaders launched a partnership to create a digital health care hub in Massachusetts, in the hopes of cornering an estimated $32 billion market, according to a report by Goldman Sachs.
The goal is to create an environment that will foster and attract a variety of technologies including electronic health records, consumer wearable devices, care systems, payment management, Big Data analytics and telemedicine among others, and has close connections to the state’s technology and life sciences sectors.
“This emerging industry cluster has the potential to become a powerful driver of job creation across the Commonwealth, while also unlocking new advances in improving patient care and lowering health care costs.” said Governor Charlie Baker in a released statement. “
This plan is being compared to a previous initiative to expand the biotech and life sciences industries in Massachusetts.
The initiative will bring public, private, academic, and healthcare leaders together to build a stronger and more connected statewide digital health ecosystem. To support digital health startups, the City of Boston, Massachusetts eHealth Institute at MassTech (MeHI), and MACP announced the establishment of a digital health innovation hub. The initiative will provide space, programming and strong industry network for digital health startups and will serve as a Boston “hub” for the industry. Programming through the hub will be managed and operated by MassChallenge.
“We know that the digital healthcare industry is Boston’s future, and I thank our state and private sector partners for their support,” said Boston Mayor Martin Walsh. “By working together, we can maintain Boston’s leadership in health care and the life sciences, and create an environment where the digital healthcare industry can thrive and we can better serve our patients and their families.”
MeHI will lead development of a market access program designed to help digital health innovations get to market faster by building strategic connections between entrepreneurs and the healthcare system, and partner with state agencies to better capture the “big data” opportunity in healthcare.