The database is intended to allow researchers to access more data in less time, according to the report.
The Cleveland Clinic, which developed the database, is currently backing the start-up company. The Clinic has provided an unknown amount of financial support to Explorys and will receive royalties under a licensing agreement in return.
The company plans to offer healthcare organizations annual subscriptions that would allow them to share their data with the database and make use of information within the database, according to the report.
The company is also exploring allowing pharmaceutical companies and insurers to subscribe to the database for comparative effectiveness purposes.
Some critics argue that the database threatens patient privacy and that the standards for de-identifying patient data need to be strengthened, but the company says that patient data protection is core to its business model.
Read AMEDNews’ report on Explorys.
