One of Australia’s leading data-driven healthcare firms, ResMed, it seems, has been hit hard by announcing that it has signed an agreement with the company Alphabet, to establish a totally new data-driven healthcare company, Verily, that emphasis on how software can improve the health care of people with sleep disorders.
In recent years, ResMed has poured heavily in building data analysis and monitoring performance on the Internet, and more recently, it has more than 1 billion night’s sleep data, plus more than 5 million devices that are cloud-connected.
The company’s momentum on the healthcare space is vital as the data can help improve patient outcomes, clearly, demonstrate the benefits of their treatment for public health care providers and insurers with regard to reimbursement of publicly funded treatment costs.
In other words, if the ResMed can use the data to show public health institutions, that its treatment can save loads of money by not allowing patients to receive expensive medical costs than it will be an excellent negotiation and sales position with public healthcare reimbursement bodies.
Data is also crucial for ResMed’s business, as many patients with wearable masks have problems to sleep due to discomfort, which means that data about sleep can be shown to the patient and other medical professionals. And convey about the benefits of wearing a mask among other useful conclusions.
ResMed shares tripled in the last five years, but, truthfully, it is said the best time to reap the returns on the investment from the stocks of ResMeds; one should wait for tomorrow and not today.
The Australian company has developed a modern device that is revolutionizing hospitals around the globe. In fact, this device is so profitable that the company generates 90% of the profit.