Monday morning Microsoft Corporation (MSFT) and General Electric (GE) announced that they will join forces to take on the world of healthcare with a joint venture by the name of Caradigm. The new company will launch later on this year. Both companies are working on breakthrough technologies as mentioned earlier on one of my blog posts "Changing Medicine" together they will bring changes to the hospital experience for years to come.
GE is working on smart medical rooms to monitor patients and staff to improve performance as well as save lives. MSFT is working on avatars in a medical setting to interact with patients as a healthcare worker might do. It is known that as the avatar interacts with hundreds of patients it will improve its ability to diagnose what may be wrong with patients just as good if not better than a healthcare employee. Both are futuristic projects but can become a reality in our lifetime and change the inpatient/outpatient experience.
The aging population make up a large amount of the expenditures in healthcare. An enormous amount of baby boomers make up our population and this makes healthcare the place to be. Why not invest in healthcare through innovation and breakthrough? Both stocks are up after the announcement.