The Switzerland-based drug giant is implementing technology such as Google’s sensors in contact lenses and pills with sensors that tell patients when they have missed a dose. The goal is to put Novartis AG at the front of the changing healthcare field, according to Bloomberg Business.
Novartis AG partnered with computer chipmaker Qualcomm in January to fund a $100 million initiative to find startups that are innovating mobile health monitoring. The company has sold its vaccines patents to U.K.-based GlaxoSmithKline and bought GSK’s cancer drug line in return. The company’s CEO, Joe Jimenez, has tried to move the company from being a staple to being an innovator, according to the report.
Mr. Jimenez is also leading the digital medicine push. He is preparing the company for value-based reimbursement models and investing in technology that will support improved patient outcomes, according to the report.
“We would go in with a package of services including the pharmaceutical, the technology that will help that patient comply and a warning system that showed if that patient was not complying,” Mr. Jimenez told Bloomberg Business. “We will have to partner with companies that have like interests in the tech space.”
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
