25 Jun 2019 07:00
Sensyne Health welcomes EY's announcement on AI and blockchain to link healthcare reimbursement and actual patient outcomes
Global platform uses AI and block chain technologies to help enable secure measurement and reimbursement
Collaboration aims to provide unique end-to-end outcomes-based contracting in healthcare sector
Oxford, UK; 25 June 2019: Sensyne Health plc (LSE: SENS) the British clinical AI technology company, today welcomes EY Global Services Limited's announcement on the intended expansion of its current Health Outcomes Assessment platform by collaborating with Guardtime and Sensyne Health. The platform is the first of its kind for the healthcare industry and provides an end-to-end solution for outcomes-based contracting - an approach that ties the payment of medicines to the achievement of specific clinical and patient satisfaction benchmarks and efficiency improvements in patient treatment pathways. Through the planned collaboration, Sensyne Health will add clinical artificial intelligence (AI) and Guardtime will add blockchain technologies to help enable the platform to scale faster, leading to fairer reimbursement and access to novel treatments for patients.
The collaboration will aim to solve one of healthcare's biggest challenges - accurate and fair patient reimbursement against the actual health outcome provided by healthcare providers and drug manufacturers.
Under the arrangement, Guardtime will run its HSX bridge software, built on the KSI blockchain. Through this technology, healthcare data can be transported securely with a transparent audit trail allowing immutable evidence of how each data element is viewed and used. Sensyne Health will use its clinical AI platform to evaluate patient health impact. EY teams will bring independent contract assessment, contract management and automated business process experience to allow pharmaceutical companies and healthcare providers to share data and help manage real-world outcomes-based contracts at scale with total transparency and trust.
Lord (Paul) Drayson, Chief Executive Officer of Sensyne Health plc, said: "This new collaboration will position Sensyne at the centre of a technology solution to one of the major challenges facing global healthcare - how to link reimbursement to the benefits provided to patients. We look forward to working with EY, Guardtime and global pharmaceutical companies and payers to help deliver this new capability."
Dan Matthews, EY EMEIA Life Sciences Leader, said: "We are delighted to be working to deliver the triple win: with life sciences companies increasing access to medicines, health care providers achieving greater efficiency and effectiveness and, most importantly, more patients getting better health outcomes. This is only possible through the combination of novel technologies and a supporting commercial model that allows industry collaboration."
Mike Gault, Guardtime CEO, said: "Payers, providers and pharma have long aspired to move towards value-based healthcare; this collaboration now makes it possible. Guardtime's KSI blockchain technology will help ensure patient-level data visibility without compromising data privacy, ensuring all participants can collaborate securely and with confidence. We are excited about the opportunities this collaboration brings to the health industry."
-ENDS-
For more information please contact:
Sensyne Health (www.sensynehealth.com) | +44 (0) 330 058 1845 |
Lord (Paul) Drayson, Chief Executive Officer | |
Lorimer Headley, Chief Financial Officer | |
Julia Wilson, Director of Investor Relations | |
Consilium Strategic Communications | +44 (0) 20 3709 5700 |
Mary-Jane Elliott | |
Sukaina Virji | |
Melissa Gardiner | |
sensynehealth@consilium-comms.com |
About Sensyne Health
Sensyne Health plc is a healthcare technology company that creates value from accelerating the discovery and development of new medicines and improving patient care through the analysis of real-world evidence from large databases of anonymised patient data in collaboration with NHS Trusts. These anonymised patient data are ethically sourced in that any analysis of anonymised patient data (and hence the Company's access to it) must be pre-approved for each programme on a case-by-case basis by the relevant NHS Trusts. This is to ensure that the purpose of the anonymisation and the proposed analysis are subject to appropriate ethical oversight and information governance, including conformance with NHS principles, UK data protection law and applicable regulatory guidance. Sensyne Health is an early signatory to the Department of Health and Social Care's 'Initial Code of Conduct for data-driven health and care technology'.
Sensyne Health is listed on the AIM Market of the London Stock Exchange (SENS.L)
For more information, please visit: www.sensynehealth.com
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. For more information about our organization, please visit ey.com
About EY Health Sciences and Wellness
The rise of the empowered consumer, coupled with technology advancements and the emergence of digitally focused entrants, is changing every aspect of health and care delivery. To retain relevancy in today's digitally focused, data-infused ecosystem, all participants in health care today must rethink their business practices, including capital strategy, partnering and the creation of patient-centric operating models.
The EY Health Sciences and Wellness architecture brings together a worldwide network of more than 20,000 professionals to build data-centric approaches to customer engagement and improved outcomes. We help our clients deliver on their strategic goals; design optimized operating models; and form the right partnerships so they may thrive today and succeed in the health systems of tomorrow. We work across the ecosystem to understand the implications of today's trends, proactively finding solutions to business issues and to seize the upside of disruption in this transformative age.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. For more information about our organization, please visit ey.com
About Guardtime Health
Guardtime Health is dedicated to bridging the gap between patients, providers, payers, regulators and life science companies by seamlessly enabling access to data for multiple stakeholders, delivering the secure use of a single truthful version of health data.
Guardtime Health's HSX platform enables application development through software APIs for solutions as diverse as: access to real-world evidence and biobank data, dynamic consent management, complex clinical trials, outcomes-based contracting, medication adherence, supply chain visibility for preventing medicine shortages and downstream diversion or to secure upstream active substance provenance. For more information about our organization, please visit https://guardtime.com/health