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The Internet of Things Is Transforming Healthcare, but There’s One Huge Risk

Will the Internet of Things make health care a security risk?   #IoT

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  • The Internet of Things Is Transforming Healthcare, but There’s One Huge Risk
  • But the new opportunities aren’t without risk, and for device makers and other healthcare companies, that uncertainty is largely centered around security .
  • From fitness trackers to medical devices that track specific conditions such as Huntington’s disease or asthma, technology and healthcare companies are increasingly joining forces to utilize the Internet of Things to better monitor patients’ health and help prevent diseases.
  • Apple and Alphabet are holdings in Jim Cramer’s Action Alerts PLUS Charitable Trust Portfolio.

Tech giants, Big Pharma and insurers are all angling to profit from the $3 trillion-plus U.S. healthcare market….IBM

@TheStreet: Will the Internet of Things make health care a security risk? #IoT

Editors’ pick: Originally published Oct. 24.

From fitness trackers to medical devices that track specific conditions such as Huntington’s disease or asthma, technology and healthcare companies are increasingly joining forces to utilize the Internet of Things to better monitor patients’ health and help prevent diseases. 

The possibilities for both device makers and Big Pharma to collaborate with tech companies are vast, which is no surprise given that more than $3 trillion was spent on healthcare in the U.S. in 2014, and likely even more than that in 2015, according to the Centers for Medicare & Medicaid Services.  

Alongside countless digital health startups, a wave of collaborations has already taken place as companies look to get ahead of what remains a very ill-defined market. But these new opportunities aren’t without risk, and for device makers and other healthcare companies, that uncertainty is largely centered around security. 

“The connected car and house are really, really cool, but none of that is more important than healthcare,” Ivan Feinseth of Tigress Partners said.

Those taking part in the industry’s transformation include IBM  (IBM) , which has already proven to be the most prolific IoT acquirer, while Apple (AAPL) , Samsung  (SSNLF) and Garmin’s  (GRMN)  efforts include wearables to track health and fitness. Alphabet’s Google  (GOOG)  is also part of the wearables group, though Alphabet’s efforts span much further as it is also developing products such as smart contact lenses. For their part, Qualcomm (QCOM)  and Intel  (INTL)  are also partnering with Big Pharma to track and prevent diseases. 

The Internet of Things Is Transforming Healthcare, but There’s One Huge Risk

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