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Healthcare decision support markets consist of traditional market participants led by McKesson and
Watson from IBM. IBM Watson offers structured and unstructured data in combination. This represents a major breakthrough in what kind of decision support can be offered.
IBM Watson can provide a far more differentiated testing assessment.
Watson knows what tests are relevant to further characterize a particular patient condition and what tests are not.
It is a great help to physicians to have an assistant that is able to have read the latest journal articles and is loaded with medical information to recommend what tests may be relevant in a particular situation. Wrong tests, tests that are not useful in a particular situation, account for 30% of the costs of healthcare delivery in the US. This is a lot. To have a new system available that addresses these issues is great.
IBM Watson is initiating a new era of cognitive computing that extends the tabulator and application program intensive enabling new market opportunities based on cognitive performance.
Watson is so powerful and so new that the uses for it are not even defined yet. The tools and methods released by natural language computing systems are remarkable. They are very exciting.
Watson is comprised of a core engine. This engine is more powerful than anything that has been designed by humans before. To the credit of IBM, the first purpose that
Watson has been put to is to improve healthcare delivery. To those analysts following
Watson, there is tremendous promise in the offing.
IBM concentrates on building end to end systems that are able to adapt of market changes. While this may make the IBM product set seem overly heavy in the short run, in the long run, this is of enormous value to clients as proved by the company market leading position in innovation software.