WOONSOCKET, RI and ARMONK, NY - 30 Jul 2015: CVS Health (NYSE:CVS) and IBM (NYSE: IBM) today announced they will use predictive analytics and Watson cognitive computing to transform care management services for patients with chronic disease.
The partnership will enable health care practitioners, including those across the CVS Health enterprise, to use Watson to advance care management beyond programs and services typically available today. Watson's cognitive computing capabilities interact in natural language, read and understand vast amounts of information, and continuously learn. The offering would enable health care practitioners to quickly and easily gain insights from an unprecedented mix of health information sources such as medical health records, pharmacy and medical claims information, environmental factors, and fitness devices to help individuals stay on track with their care and meet health goals.
The joint CVS Health/IBM Watson Health solution will be optimized for use across a wide range of chronic conditions. Chronic diseases such as hypertension, heart disease, diabetes, and obesity are the leading cause of death and disability in the U.S. and represent 86 percent of the nation's $2.9 trillion in annual health spending.[[1],[2]] The resulting offering will be made available to insurers and other entities serving the employer and health plan market and will focus on:
Helping to predict individuals at risk for declining health who may benefit from proactive, customized engagement programs;
Encouraging patients to adopt safe and healthy behaviors, including adherence to prescribed medicines and healthy lifestyle regimens; and
Suggesting appropriate use of cost-effective primary care and out-patient providers.
The partnership brings together IBM's Watson Health Cloud and cognitive computing capabilities with both companies' expertise in predictive analytics and patient engagement. CVS Health also brings strong insights into medication adherence and pharmacy care.
CVS Health and IBM are both committed to improving health and finding ways to engage individuals in their well-being through the use of information and technology, said Troyen A. Brennan, MD, EVP and Chief Medical Officer for CVS Health. This partnership will enable us to leverage advanced technologies and key health information to develop a tool that can be applied by a variety of health care providers such as pharmacists, nurse practitioners at MinuteClinics or connected health care providers, and that can help our pharmacy benefit management clients improve member health and manage cost.
The capabilities of the IBM Watson Health Cloud, when coupled with CVS Health's insights into medication utilization and patient behavior, could prove transformative for the industry, said Mike Rhodin, senior vice president, IBM Watson. Improving care for people with chronic conditions supports IBM's commitment to make big plays that advance the health and well-being of the global community. Through the recent acquisitions of Phytel, Explorys, and Curam we also bring extraordinary capabilities in patient engagement and population health, enabling us to deliver a powerful solution that supports individuals wherever they are, whenever they need it.
About CVS Health
CVS Health (NYSE: CVS) is a pharmacy innovation company helping people on their path to better health. Through its 7,800 retail drugstores, nearly 1,000 walk-in medical clinics, a leading pharmacy benefits manager with more than 70 million plan members, and expanding specialty pharmacy services, the Company enables people, businesses and communities to manage health in more affordable, effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at www.cvshealth.com.
IBM Watson: Pioneering a New Era of Computing
Watson is the first commercially available cognitive computing capability representing a new era in computing. The system, delivered through the cloud, analyzes high volumes of data, understands complex questions posed in natural language, and proposes evidence-based answers. Watson continuously learns, gaining in value and knowledge over time, from previous interactions. With the help of Watson, developers and partners are building apps and services that harness the power of cognitive computing to transform industries, help professionals do their jobs better, and solve important challenges.
IBM continues to build on its strengths in cognitive computing, analytics, security and cloud with IBM Watson Health and the Watson Health Cloud platform. The unit is helping improve the ability of doctors, researchers and insurers to innovate by surfacing new insights from the massive amounts of personal health data being created daily. The Watson Health Cloud allows this information to be de-identified, shared and combined with a dynamic and constantly growing aggregated view of clinical, research and social health data, while protecting the privacy and security of individuals.
Learn more about this story at: http://asmarterplanet.com/blog/2015/07/how-watson-can-help-tackle-chronic-disease.html
For more information on IBM Watson Health, visit: ibm.com/watsonhealth
Check out the IBM Watson press kit at: http://www-03.ibm.com/press/us/en/presskit/27297.wss
Join the conversation at #ibmwatson and #ibmwatsonhealth. Follow Watson on Facebook and see Watson on YouTube and Flickr.
[1] The Centers for Disease Control and Prevention (2014). Health Expenditures. Retrieved from http://www.cdc.gov/nchs/fastats/health-expenditures.htm
[2] The Centers for Disease Control and Prevention (n.d). Chronic Disease and Health Promotion. Retrieved from http://www.cdc.gov/chronicdi
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WOONSOCKET, RI and ARMONK, NY - 30 Jul 2015: CVS Health (NYSE:CVS) and IBM (NYSE: IBM) today announced they will use predictive analytics and Watson cognitive computing to transform care management services for patients with chronic disease.
