it started from bad news for Onno Faber – the founder – when he was diagnosed with neurofibromatosis type 2 – a rare disease that caused tumors, leading him to lose hearing in one ear.
He was amongst people with an uncommon health condition suffering from the lack of data designed to invent treatments for their ails.
As a successful entrepreneur, he saw an opportunity in this. The big challenge for creating new treatments for the diseases was getting enough information that is needed for that. RDMD is working on this issue with the help of big data analysis.
They analyze the data from medical records and find commonalities in rare disease cases. Then they sell that data to pharmaceutical companies so they can create a cutting-edge treatment.
The company claims that their mission is in empowering patients and communities to accelerate the development of treatments for rare diseases of all kinds.
As for now, some important information from patient medical records is often trapped in hospitals or kept private, inaccessible to researchers who need it.
RDMD aims to change that. By leveraging modern technology and data science, the startup aims to empower patients to remove the barriers to treatment development.
As loud as it sounds, they do have solid fundraised in 3 million on hackathon of 2017.
The figures are hard to compare with the ones of Flatiron, but still, are very significant for the app operations.
With RDMD’s app, a patient’s medical data that’s gathered across hospitals and health facilities can be compiled, organized and synthesized. If users are opting-in, the data can be anonymized and provided to research organizations, hospitals and pharmaceutical companies that pay RDMD.
So you can see how the monetization of such apps works. The companies that work with Big Data Analysis often sell the data or the insights on the analysis of this data.
United by the idea of big data analysis, these companies have similar goals and quite a different scale. However, both were able to get big funds for their software development and beyond.
It seems, though, that big data market has plenty of free niches.
Babylon and Florence
In recent years, smart algorithm-powered, text or voice-based interfaces have multiplied, and they are also taking their place in healthcare. There is a huge possibility that they could ease the burden on doctors in primary care up.
At least that’s what Babylon Healthcare is aiming for. They think that it is possible to provide people worldwide with accessible and affordable health service.
Here is how they see doing it:
“By combining the ever-growing computing power of machines with the best medical expertise of humans to create a comprehensive, immediate and personalized health service and making it universally available”.
Babylon’s Artificial Intelligence system has been created by doctors and scientists using the latest advances in deep-learning.