Difference between revisions of "Healthcare Data Monetization"
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==Overview== | ==Overview== | ||
| − | The definition of monetize is “to change into money.” (source) Today, data is constantly being collected from us, and many companies and organizations are capitalizing on this data. This can make some people uncomfortable to know that the data being collected on them from social media or online shopping is being used to make a company money; as a result, people may choose to refrain from such activities. However, in the age of digitalization, it is harder and harder to avoid. Important things like banking and health records are being moved to electronic, and for most people, being part of the Big Data for these things is unavoidable. This data is more sensitive and private than friends on Facebook or favorite online store, and as such, companies pay large amounts to store and protect this data. Health data monetization is leveraging the huge amount of health data health system already have, store, and protect to increase their revenue. (source) | + | The definition of monetize is “to change into money.” (source) Today, data is constantly being collected from us, and many companies and organizations are capitalizing on this data's. This can make some people uncomfortable to know that the data being collected on them from social media or online shopping is being used to make a company money; as a result, people may choose to refrain from such activities. However, in the age of digitalization, it is harder and harder to avoid. Important things like banking and health records are being moved to electronic, and for most people, being part of the Big Data for these things is unavoidable. This data is more sensitive and private than friends on Facebook or favorite online store, and as such, companies pay large amounts to store and protect this data. Health data monetization is leveraging the huge amount of health data health system already have, store, and protect to increase their revenue. (source) |
==History== | ==History== | ||
Revision as of 13:02, 10 March 2021
Contents
Overview
The definition of monetize is “to change into money.” (source) Today, data is constantly being collected from us, and many companies and organizations are capitalizing on this data's. This can make some people uncomfortable to know that the data being collected on them from social media or online shopping is being used to make a company money; as a result, people may choose to refrain from such activities. However, in the age of digitalization, it is harder and harder to avoid. Important things like banking and health records are being moved to electronic, and for most people, being part of the Big Data for these things is unavoidable. This data is more sensitive and private than friends on Facebook or favorite online store, and as such, companies pay large amounts to store and protect this data. Health data monetization is leveraging the huge amount of health data health system already have, store, and protect to increase their revenue. (source)
History
History of Electronic Health Data
Health records were poorly kept up until about the 19th century; however, by the end of the 19th century, health records included diagnosis, family history, notes, instructions, clinical tests, and everyone one would expect to see in health records today (https://www-sciencedirect-com.proxy.lib.umich.edu/science/article/pii/S0002934313003987). Because these records were taken by hand, any different doctor or hospital would only have the records that were accessible, and so records were often discontinuous from place to place. Paper records held through to the mid to late 20th century; in about the 1970s and 1980s software development made it possible for patient data to be inputted electronically, indexed and accessed across all departments of a health systems (https://www.rasmussen.edu/degrees/health-sciences/blog/health-information-management-history/). Since then, there has been a huge push for healthcare organizations to utilize Electronic Health Records (EHR), and as of 2017, about 86% of physicians have adopted EHR (https://dashboard.healthit.gov/quickstats/pages/physician-ehr-adoption-trends.php#:~:text=Summary%3A,from%2042%25%20to%2086%25.).
