TECHNOLOGY IS GOOD FOR YOUR HEALTHCARE

By Alan Murray | Oct 26, 2016 | This article originally appeared in Fortune

Capital One announced this week it is partnering with blockchain startup Gem to use the digital ledger technology to track claims for medical patients. I mention this not because it’s the most important story of the day, but because the notion of banks using the blockchain to address the nightmare that is our health payments system is just another sign of how quickly technology is changing the fundamentals of modern business.

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And probably no industry faces more profound change than healthcare. Whether it is sensors tracking your vital statistics, or IBM Watson providing assistance in clinical diagnoses, or massive gene data providing new insights in personalized disease treatment, or the blockchain piercing the payments system, health care stands at the cusp of a transformation that my colleague Cliff Leaf says is the 21st century version of the discovery of penicillin. “Near simultaneous advances across an enormous spectrum of new tech – deep learning, big-data analytics, wearable sensors, hyperconnectivity, 3D printing, gene editing, virtual reality, and much more—are suddenly, and rapidly, shaking up a sector that now accounts for $3 trillion of spending every year in the U.S.,” Leaf says.

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