- Apple is preparing to roll out its HealthKit service, and is discussing with experts how health data can be successfully made available.
- In our original article, we said that apps run on HealthKit will be able to share health data with different parties.
- The recent news confirms our view that Apple is evolving as a hub of health data that's going to completely transform how healthcare is practiced today.
Apple (NASDAQ:AAPL), which is expected to unveil its iPhone 6 and iOS 8 in less than a month, has been discussing with leading healthcare institutions how its HealthKit service will work with health providers, reports Reuters. The iPhone maker is busy discussing with experts at Mount Sinai, the Cleveland Clinic and Johns Hopkins for successfully making health data available to consumers and healthcare providers with its upcoming iPhone 6 and iOS 8 launches. Allscripts Healthcare Solutions (NASDAQ:MDRX), a competitor to electronic health records provider Epic Systems, is also involved in the discussion. Apple and Epic have developed "a framework for getting information collected via HealthKit into patients' MyChart app," according to mobihealthnews. Furthermore, Apple's recently announced alliance with IBM Corp. (NYSE:IBM) could lead to an influx of healthcare-related mobile apps.
HealthKit, a part of iOS 8 which Apple is expected to incorporate into its iPhone 6 come September, is a "lynchpin" of Apple's strategy, according to the Reuters report. A number of major health systems that use Epic's software will soon be able to integrate health and fitness data from Apple's HealthKit into Epic's personal health record called MyChart. Apple is positioning HealthKit as an opportunity for entrepreneurs, so that they can capitalize on the advantage of iPhone 6's sensors and the company's anticipated iWatch, which Apple plans to unveil this fall. With HealthKit, Apple is counting on to grab a major share in the $9 billion-plus mobile healthcare market.
In our original article, we said that apps developed through HealthKit will be able to exchange health data, such as blood pressure, heart rate and weight, with medical devices and share them with other apps for in-depth health management. "Apple is going into this space with a data play," said Forrester Research. "They want to be a hub of health data." We believe that Apple's healthcare initiative will have far-reaching consequences on how health data is kept and managed today. For more information, read our original article.
Business relationship disclosure: The update has been written by a BB Research stock analyst. BB Research is not receiving compensation for it (other than from Seeking Alpha). BB Research has no business relationship with any company whose stock is mentioned in this article.