STOCK TITAN

New Multi-Hospital Partner Joins OneMedNet's Expansive Real World Data Network

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
OneMedNet Corporation (ONMD) announces a partnership with Beacon Health System, Inc. to promote new patient care diagnostic and treatment solutions using OneMedNet's iRWD™, reinforcing its leadership in Real World Data (RWD) for life science innovation. The partnership aims to provide critical new product decisions for life science organizations at every step of the innovation process, leveraging flawless data and the latest AI/ML technology. OneMedNet's iRWD network consists of over 235 healthcare systems and providers, including 150+ care sites treating 1.5m patients per year.
Positive
  • None.
Negative
  • None.

The collaboration between OneMedNet and Beacon Health System represents a strategic move in the burgeoning field of real-world data (RWD) utilization in life sciences. As medical research increasingly relies on large datasets to inform clinical decision-making and drug development, the demand for high-quality, regulatory-grade RWD is imperative.

OneMedNet's iRWD™ system offers a significant advantage for life science organizations, as it allows access to a vast network of healthcare systems and providers. The integration of AI/ML technology for precision data curation can potentially streamline the innovation process for new diagnostics and treatments. This could lead to reduced time-to-market for new products and enhancements in personalized medicine approaches.

For stakeholders, the short-term implications involve potential improvements in the efficiency of clinical trials and research studies, which could translate into cost savings and faster product development cycles. In the long term, the widespread adoption of such RWD systems could lead to a paradigm shift in how medical data informs healthcare innovation and patient outcomes.

The partnership between OneMedNet and Beacon Health System underscores the economic value of leveraging RWD in healthcare innovation. By facilitating access to a large pool of data from 235 healthcare systems and providers, OneMedNet is positioning itself as a critical resource for life science companies looking to optimize research and development expenditures.

The economic impact of this partnership is multifaceted. On one hand, there is the potential for significant cost reductions in the R&D process for life science companies, as they can bypass some of the traditional barriers associated with clinical trial recruitment and data collection. On the other hand, the healthcare providers contributing to the iRWD network may benefit from the shared insights and advancements in patient care that result from this collaborative approach to data analysis and application.

However, the reliance on RWD also raises questions about data privacy, security and the need for robust regulatory frameworks to ensure that patient data is handled ethically and responsibly. The long-term success of such partnerships will depend on the ability of companies like OneMedNet to maintain the integrity and confidentiality of patient data while delivering actionable insights to their life science partners.

With the increased use of real-world data in life sciences, compliance with regulatory standards is paramount. OneMedNet's claim of providing regulatory-grade imaging RWD suggests a robust framework for data curation that aligns with FDA guidelines and other regulatory requirements.

Ensuring that the data is not only precise but also compliant with regulations such as HIPAA in the United States, GDPR in Europe and other international standards is critical. The expertise of OneMedNet's data curation team, which is touted to have over 300 years of clinical experience, is essential in this context. Their role in certifying the data across every radiology modality indicates a comprehensive approach to data integrity and compliance.

The long-term implications for the healthcare industry include setting a precedent for RWD quality and compliance that other companies may follow. The partnership's success could lead to an industry-wide elevation in the standards of data curation and a potential increase in trust from stakeholders who rely on this data for making informed decisions in healthcare innovation and patient care.

~ Partnership Reinforces RWD Leadership for Life Science Innovation ~

MINNEAPOLIS, MN / ACCESSWIRE / January 11, 2024 / OneMedNet Corporation, ("OneMedNet" or the "Company") (NASDAQ:ONMD) the leading curator of regulatory-grade imaging Real World Data ("RWD"), today announced a partnership with Beacon Health System, Inc. to promote new patient care diagnostic and treatment solutions using OneMedNet's iRWD™. Life Science organizations of all types are taking advantage of existing real world data within several product development stages including conceptualization, development, validation, regulatory approval, and post-market surveillance.

"Life science organizations are continually faced with critical new product decisions at every step of the innovation process," said Aaron Green, OneMedNet President. "The key to flawless decision-making is to have flawless data upon which to base, and support, these decisions. We provide that data."

OneMedNet utilizes both the latest AI/ML technology as well as an industry-leading data curation team to ensure that the requested data precisely matches the required specification - no matter how detailed. This curation team has over 300 years of clinical experience and is clinically certified in every radiology modality.

The OneMedNet iRWD network consists of over 235 healthcare systems and providers who are well-recognized for their exceptional patient care. Importantly, these care leaders are also focused on fully supporting continued care advancements for the benefit of their patients, and others. This particular health system features 150+ care sites treating 1.5m patients per year.

About OneMedNet Corporation

Founded in 2009, OneMedNet provides innovative solutions that unlock the significant value contained within the clinical image archives of healthcare providers. Employing its proven OneMedNet iRWD™ solution, OneMedNet securely de-identifies, searches, and curates a data archive locally, bringing a wealth of internal and third-party research opportunities to providers. By leveraging this extensive federated provider network, together with industry leading technology and in-house clinical expertise, OneMedNet successfully meets the most rigorous RWD Life Science requirements. For more information, please visit www.onemednet.com.

Investor Contact

Shannon Devine
MZ Group North America
203-741-8811
ONMD@mzgroup.us

SOURCE: ONEMEDNET CORP.



View the original press release on accesswire.com

FAQ

What is the partnership announced by OneMedNet Corporation (ONMD)?

OneMedNet Corporation (ONMD) announced a partnership with Beacon Health System, Inc. to promote new patient care diagnostic and treatment solutions using OneMedNet's iRWD™.

What is the purpose of the partnership?

The partnership aims to provide critical new product decisions for life science organizations at every step of the innovation process, leveraging flawless data and the latest AI/ML technology.

How many healthcare systems and providers are part of OneMedNet's iRWD network?

OneMedNet's iRWD network consists of over 235 healthcare systems and providers.

How many patients per year are treated by the care sites within the particular health system mentioned in the PR?

The particular health system features 150+ care sites treating 1.5m patients per year.

OneMedNet Corporation

NASDAQ:ONMD

ONMD Rankings

ONMD Latest News

ONMD Stock Data

11.69M
9.66M
25.73%
1.35%
0.3%
Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
Professional, Scientific, and Technical Services
Link
United States of America
SURREY