OneMedNet iRWD(TM) Now Available on AWS Data Exchange

Rhea-AI Summary

OneMedNet Corporation (ONMD) Expands Access to Regulatory-Grade Imaging Real World Data Platform Through AWS Data Exchange, Accelerating Life Sciences Innovation and Lowering Costs

Positive

• Expanded access to highly curated and precise regulatory-grade imaging Real World Data (RWD) on AWS Data Exchange
• Increased utilization by Life Science organizations to accelerate time to market and lower costs
• Proactive removal of hurdles for Life Science partners to effectively and efficiently use RWD
• Leveraging AWS Data Exchange for better management of data catalogues and governance
• Completion of IPO and listing on Nasdaq, providing investors the opportunity to support OneMedNet's mission

Negative

• None.

Medical Research Analyst

The collaboration between OneMedNet and Amazon Web Services (AWS) marks a significant advancement in the accessibility of regulatory-grade imaging Real World Data (RWD) for life sciences organizations. The availability of such data on AWS Data Exchange streamlines the process for researchers and developers, potentially accelerating innovation cycles for diagnostic and therapeutic products. This strategic move can be seen as a response to the increasing demand for high-quality RWD in the life sciences sector, which is crucial for evidence-based decision-making and regulatory submissions.

By providing a trusted platform for the procurement of RWD, OneMedNet is positioning itself as a key player in the life sciences data market. The implications for stakeholders include a reduction in the time and cost associated with bringing new medical products to market, which could translate into competitive advantages for companies that leverage this data effectively. Moreover, the use of RWD in post-market surveillance could enhance patient safety and treatment efficacy, further underpinning the value of this strategic partnership.

Healthcare Economist

OneMedNet's move to make its regulatory-grade imaging RWD available on AWS Data Exchange can be expected to have economic implications for the life sciences industry. By potentially lowering the barriers to entry for smaller players who may not have the resources to curate such data independently, this initiative could democratize innovation and stimulate competition within the industry. The cost savings from reduced research and development timelines may also be passed on to healthcare providers and patients, potentially leading to more affordable healthcare solutions.

Furthermore, the integration of RWD into the AWS ecosystem could encourage more widespread adoption of data-driven approaches in healthcare, fostering a more efficient allocation of resources. However, the long-term impact will largely depend on the quality and representativeness of the data provided, as well as the industry's ability to integrate and analyze such datasets effectively to derive actionable insights.

Data Governance Expert

OneMedNet's emphasis on data governance and catalog management in their partnership with AWS highlights the growing importance of data stewardship in the life sciences industry. The handling of sensitive medical images and associated data requires strict adherence to regulatory standards and privacy laws. The ability to manage and govern such data on a trusted platform like AWS is crucial for maintaining the integrity and security of RWD.

Ensuring that the data available through AWS Data Exchange complies with regulations such as HIPAA in the United States and GDPR in Europe, is vital for its acceptance and utilization by life sciences organizations. The partnership's success hinges on the robustness of data governance frameworks, which must be capable of adapting to evolving regulatory landscapes. This development underscores the need for continuous investment in data governance capabilities, which are essential for sustaining the trust of both data providers and users.

~ AWS Increases Life Sciences Accessibility to Industry Leading Regulatory-Grade Imaging Real World Data Platform ~

MINNEAPOLIS, MN / ACCESSWIRE / January 3, 2024 / OneMedNet Corporation (Nasdaq:ONMD) ("OneMedNet" or the "Company"), the leading curator of regulatory-grade imaging Real World Data ("RWD"), through its proven OneMedNet iRWD™ solution, today announced that Amazon Web Services (AWS) customers can now procure highly curated and precise RWD on AWS Data Exchange, a digital marketplace that enables customers to search, purchase, and manage third party data directly on AWS. Expanded access through AWS augments utilization by Life Science organizations that rely on OneMedNet's RWD to accelerate time to market and lower the costs that correspond with diagnostic and therapeutic innovation.

"At OneMedNet, it is critical that we proactively remove hurdles for our Life Science partners that could impact the effective and efficient use of RWD," stated Aaron Green, President of OneMedNet. "By leveraging AWS Data Exchange, OneMedNet and our partner network can better manage data catalogues and governance and accelerate research and development by providing RWD through a platform and channel that developers know and trust."

In November 2023, OneMedNet completed its IPO and became a publicly traded company listed on Nasdaq enabling investors the opportunity to support OneMedNet's mission of providing regulatory-grade, image-centric data that explicitly matches detailed Life Science data requirements. Getting the right data, at the right time, in the right format is critical to RWD utilization in all phases of innovation from research and development to validation to post market surveillance.

About OneMedNet Corporation

OneMedNet was the first company to trademark a RWD offering through its OneMedNet iRWD™ solution that utilizes AI to securely de-identify, search, and curate imaging data for the benefit of its partner network consisting of medical and academic research institutions to generate progression in stages of medical research, discovery and diagnostics that span the field of life sciences. OneMedNet integrates AI and other digital technologies into their existing development processes to enhance data anomaly detection, standardization, and quality checking at the pre-processing stage. AI offers OneMedNet's partners and customers the ability to increase meaningful Real World Evidence output, decrease time to insights, and make the most of the available vast data sources.

The OneMedNet iRWD network consists of more than 200 healthcare facilities and providers. Founded in 2009, OneMedNet provides innovative solutions that unlock the significant value contained within the clinical archives of healthcare 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 Contacts:

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

SOURCE: OneMedNet

View the original press release on accesswire.com

FAQ

What did OneMedNet announce regarding AWS?

OneMedNet announced that Amazon Web Services (AWS) customers can now procure highly curated and precise Real World Data (RWD) on AWS Data Exchange.

What is the impact of the announcement on Life Science organizations?

The announcement increases utilization by Life Science organizations to accelerate time to market and lower costs associated with diagnostic and therapeutic innovation.

What does the completion of the IPO enable for OneMedNet?

The completion of the IPO and listing on Nasdaq enables investors the opportunity to support OneMedNet's mission of providing regulatory-grade, image-centric data that matches detailed Life Science data requirements.