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Monday, October 18, 2021

Google: “Global influence” is currently more important than revenue

The internet giant Google is trying hard to gain a foothold in the lucrative health sector. As David Feinberg of Google Health recently reported at a conference, the group’s strategy is not initially aimed at profits. The main aim is to create a “global impact” with the health program.

• Google is pushing into the healthcare market
• Revenue is secondary to the field at first
• Partnerships and public trust are crucial for success

It’s no secret that search engine giant Google is putting out feelers in the healthcare sector. This is also not surprising, since other tech giants such as Amazon or Apple are also willing to secure a piece of the lucrative healthcare market. Many doors are open to Google with its gigantic user base. Nevertheless, the internet group is not primarily concerned with making profits with the new business area, as Google Health VP David Feinberg recently announced at the Health Tech Conference of the Wall Street Journal, the priority is currently above all on getting as many people as possible with the offered Reaching Health Services: “The real pressure right now is, ‘Will this really help millions of people?’ Is this scalable for Google? That’s the pressure, “as CNBC Feinberg quotes.

Google Health with ambitious goals

The Alphabet subsidiary has set itself high goals. As stated on the company’s website, Google wants to “advance the future of health through scientific excellence, human-centered technologies and reliable infrastructure“. For example, it is about making information on the subject of health more understandable for laypeople. But the digital accessibility of various data from all over the world for “better, faster and more networked care” is a priority, as is the use of artificial intelligence for various areas such as cancer diagnostics. By and large, Google is concerned with “making the world’s information universally accessible and usable”.
In order to achieve these goals bit by bit, the search engine provider has repeatedly entered into various partnerships in the past. For example with the healthcare provider HCA Healthcare to accelerate the digital transformation in the healthcare sector.

Another important product that Google Health is currently working on is Care Studio, says Feinberg. This is a software solution that offers a “comprehensive overview of a patient’s files” and thus gives health personnel the opportunity to quickly get an overview of the complex data situation of a patient.

Scalability, unrealisable profits, is the biggest challenge

As Google’s health expert also said at the conference, scaling the various health products is a challenge for the Internet giant: “We are talking about having this screening for diabetic retinopathy in India and Thailand and how we do it for the rest of the world We have the ability to use Android phones to help people with pregnancy, or to determine gestational age, or to read x-rays. How do we get this across the world? That’s the pressure “. According to Feinberg, the pressure to earn money with Google Health is still in the distant future.

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Partnerships and public trust are needed

According to the health expert, two things are needed above all in order to implement his ambitious projects, namely partnerships and public trust. The difficulty here is likely to lie in the second success condition in particular. After all, the internet giant is often accused of exploiting its dominant position, which is why fines in the millions have been due several times in the past. So it remains to be seen how Google will manage to successfully market its health services in the future.

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