Tag Archives: senior health care

Google Alphabet Hopes To Spur Innovation With Investment

There Is More Technological Innovation Coming To Healthcare

Just as healthcare systems are fully implementing electronic medical records, even more technological innovation is coming to healthcare.  But instead of targeting providers these innovations will be available directly to consumers.

So who is driving the new innovation inspiration? Google of course.  For those who have tracked Google lately this is no surprise.  Google recently founded a holding company called Alphabet.  That company has declared war on Diabetes, naming the disease as an area of focus.

photo of a Google Contact Lense from Forbes.com July 2015
photo of a Google Contact Lense from Forbes.com July 2015

Don’t expect Alphabet, a spin off of Google X, to stop at Diabetes.  An investment bank Cowen and Company has tracked Google and thinks the tech giant could be on the verge of making major investments in new healthcare innovations.

A recent report by the investment bank says: “A closer look at Google’s vast health care efforts,” the report says, “reveals that the company is targeting very large markets with an expansive list of projects that with even minor success could justify the company’s recent investments.”

An article by Mark Bergen of re/code.net, a tech blog focusing on dot coms, cites Google’s major investments in companies focused on telemedicine, dermatology and Diabetes.

With the new influx of money into healthcare research and development, Google hopes it can add a spark to the industries normally slow pace.  Picking up that pace would be advised as the healthcare industry prepares for the enormous and expensive challenge of caring for the retiring Baby Boomer generation.

Healthcare systems, who are already struggling with a shrinking workforce and lack of licensed professionals, are looking for any way to provide quality care at a lower cost.  Medicare and other third-party insurers would also welcome innovations that allow patients to receive lower cost care at home.

Read Related Post: Lawmakers Predict A Healthcare Revolution

They say necessity is the mother of invention. That cliché is more true today than it has ever been as the nation tries to avoid a potential healthcare crisis caused by a title wave of aging Baby Boomers.