Massachusetts wants to be the center for digital health, having announced a comprehensive public-private partnership designed to accelerate the competitiveness of the Commonwealth’s digital healthcare industry.
Governor Charlie Baker, Boston Mayor Martin J. Walsh, Speaker Robert A. DeLeo and executives from the Massachusetts Competitive Partnership (MACP) joined leaders from across state government, healthcare, and the technology sector at Boston Children’s Hospital to unveil the initiative looking to benefit from the fast-growing digital health industry.
“Our administration is committed to making Massachusetts a national leader in digital health by partnering with private industry, convening key stakeholders and addressing market gaps,” Governor Baker said in a statement. “This emerging industry cluster has the potential to become a powerful driver of job creation across the Commonwealth, while also unlocking new advances in improving patient care and lowering healthcare costs.”
Under the deal, the City of Boston, Massachusetts eHealth Institute at MassTech (MeHI), and MACP will establish a digital health innovation hub in Boston for the industry. Programming through the hub will be managed and operated by MassChallenge.
“By working together, we can maintain Boston’s leadership in health care and the life sciences, and create an environment where the digital healthcare industry can thrive and we can better serve our patients and their families,” Mayor Walsh said in a statement.
Under the deal, a digital health innovation hub will be established in Boston to support startups and co-operate with the wider industry.Governor Baker and Secretary Ash have designated the Massachusetts eHealth Institute at MassTech (MeHI) as the state’s implementing agency, and to that end – MeHI will get additional support to include digital healthcare cluster development activities. These activities will include co-investing in the establishment of a digital healthcare hub in Boston, leading development of a market access program designed to help digital health innovations get to market faster, and partnering with state agencies to better capture the “big data” opportunity in healthcare.
Digital health, or eHealth, represents an approximately $32 billion market opportunity over the next decade, according to a report by Goldman Sachs. A big portion of that money will undoubtedly go to other places, including companies operating in the Silicon Valley and New York City area.