The company plans to expand ConvergeHEALTH’s platforms and efforts in various areas, such as improving patient experience and engagement, helping healthcare systems become more cost-effective and supporting secure and efficient access to health data.
“Since launching ConvergeHEALTH in 2014, our north star has been creating digital experience and data platforms that have supported the industry’s transition to personalized, value-based healthcare,” said Christopher. Zant, chief executive of ConvergeHealth, in an email provided by a representative. “This expanded investment is aligned with that original vision, but builds on the success of these platforms in a few critical areas.”
The cross-industry focus that extends to healthcare is not unique to Deloitte, as companies ranging from General Electric (through its subsidiary GE Healthcare) to Apple have applied scale, an outside perspective and a technology to address longstanding industry challenges. But Deloitte plans to increase its influence and expand its ability to effect change in the healthcare sector as well as in the consumer services and financial services sectors, where it is launching two more businesses – in consumer services and financial services -, with the latest investment.
“Deloitte is making this investment because the lines between traditional industries, competitors and collaborators, customers and suppliers, and even human and artificial intelligence are not only becoming increasingly blurred – they are converging,” Brett said. Davis, principal at Deloitte Consulting LLP and global asset leader and managing director of Converge by Deloitte, in a statement. Among other examples, he noted that “health care is increasingly being delivered in retail settings” and that AI is being integrated into the workings of organizations.
The company does not publicly detail its $750 million investment, but a significant portion of that investment will be used to expand and build on the success of the existing suite of ConvergeHEALTH platforms, Zant said.
“We also believe that the rest of the investment in new digital banking and customer experience platforms is relevant to healthcare, as these industries increasingly converge, with healthcare becoming increasingly centered on the consumer and digital financial services becoming more ubiquitous in our lives, including health and well-being. ,” he added.
Another focus of the investment reflected a trend in the industry: a push toward increased participation in clinical trials. It’s something companies like CVS Health and Medable, plus Thermo Fisher Science and Medidata Acorn AI aim to do as well. (Medable too announced Wednesday that it had created a network of partners, which includes CVS and Parexel, PPD, which is part of Thermo Fisher, to accelerate the deployment of decentralized clinical trials.)
Like other organizations, ConvergeHEALTH said it aims to help underrepresented populations gain better access to clinical trials.
One of the reasons that participation of minority populations in clinical trials is low is that travel to sites where research takes place, such as academic medical centers and research hospitals, can be costly or time-consuming, a noted Zant. “Our ConvergeHEALTH digital platforms can help address this challenge by reaching a broader set of patients in new settings, such as a retailer,” he said.
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