Massachusetts Health Leaders are Betting on Tech

Massachusetts Competitive Partnership is an exclusive group of 16 influential executives and business leaders that are aiming to make advances in the digital health care industry. About ten years ago, Governor Deval Patrick invested $1 billion in a state initiative to make Boston the center for life sciences and bio-technology. Inspired by Governor Patrick, Massachusetts Competitive Partnership aims to make Massachusetts a hub for digital health care too.

Digital health entails building a cloud to assist hospitals in EHR, creating cyber security software, connecting medical devices, signing people up for insurance online, analyzing data for healthcare trends, and launching new apps. Last year, venture capitalists invested $4.1 billion in the digital healthcare industry. Massachusetts Competitive Partnership is looking into finance, mentoring and incubator space. It is trying to get a tax credit to persuade investors to provide money, and it is working with Leerink Partners to develop a private equity fund that would invest in Massachusetts- based digital health companies. The partnership also wants to loosen its tech-transfer policies at universities and make members of its club available to mentor entrepreneurs.

Summary by MedicalGroups.com

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