Texas, USA (CU)_ According to the joint statement by the companies, health technology firm Philips and provider of IT services Cognizant are teaming up to create customized applications for health-care enterprises. The collaboration highlights the health industry’s struggle to adequately utilize the expanding amount of data available.
The latest collaboration will benefit healthcare providers, life sciences researchers, biopharmaceutical and medical device producers, and patients. Using the Philips HealthSuite, Cognizant will assist enterprises in developing, deploying, and operating custom applications. The HealthSuite is a platform for storing medical records and health data safely, to which data analytics and artificial intelligence will be applied. It is built on Amazon Web Services and works with over 100 different medical devices.
Cognizant will enable Healthcare providers to use the platform to track patients outside of traditional settings, and patients will be able to learn about their health. They will also work with biopharmaceutical and medical equipment companies to develop health apps that make use of advanced analytics to help them make clinical development decisions. The IT services platform will collaborate with life science companies, allowing them to use the HealthSuite for remote patient observation and decentralized clinical trials.
Shez Partovi, Royal Philips’ senior innovation & strategy officer, released a statement saying, “Despite advances, patients and clinicians still face a fragmented technology and data landscape that holds back innovative healthcare services which improve care quality and the human experience”. He also expressed delight over the new partnership. He said, “Philips is committed to driving the digital transformation of healthcare. Partnering with Cognizant’s experienced digital engineering teams will accelerate the adoption of solutions built on Philips HealthSuite, delivering digital solutions across the healthcare continuum in a secure and compliant manner and ultimately helping guide better health decisions for patients.”
Philips has been concentrating mainly on healthcare technology for the past five years, and today has three primary business sectors in this area: Personal Health, Diagnosis and Treatment, and Connected Care. In 2020, the company earned €19.5 billion, and by 2025, it aims to develop at a rate of 5% to 6% every year. According to Philips, the entire health technology market is predicted to boost at a rate of nearly 4% every year.
