EU Ready to Spend €2.5 Billion on Hub for Health-Care Data
(Bloomberg) -- European Union patients will be allowed to move their health-care data across the bloc, part of a wide-ranging proposal unveiled by the European Commission.
The EU's European Health Data Space aims to get citizens access to their e-prescriptions and health records online, according to an announcement from the European Commission on Tuesday. This system, to start by 2025, will be connected with all 27 EU member states, meaning people can travel around the EU and still access their health information.
Researchers and pharma companies will also get access to anonymized data to improve the development of medicines, including making personalized cancer treatments or using artificial intelligence. Regulators and policymakers could also get access to improve health policy decisions.
“With the European Health Data Space, we can harness the power of health data and stronger health research, with citizens in control of their data at all times,” Health Commissioner Stella Kyriakides said. “It will be a game changer for how we deliver healthcare and health solutions, always for the benefit of citizens and patients.”
The cost of creating the European Health Data Space will be between 700 million euros and 2.5 billion euros ($2.6 billion), according to an EU impact assessment seen by Bloomberg. The commission estimates that EU countries will spend another 12 billion euros to digitalize their health systems more broadly, according to an EU official.
Read More: The EU Wants A Central, Cross-Border Digital Health Space
The commission views the health data space proposal as an extension of the EU's increasingly coordinated approach to health throughout the Covid-19 pandemic. This was most clear with the EU's Digital Covid Certificate which allowed citizens to show their vaccination and recovery status to travel around the union and enter businesses.
But the commission could face hurdles convincing countries to sign on, as they have long been reluctant to share data across borders and have digitalized their systems to differing degrees. Under the proposal, EU countries will bear the brunt of digitalizing their health systems, which can be a time-consuming and often costly switch.
Some like Denmark provide health apps to citizens, and other EU countries like Finland and Estonia exchange health data across borders. However, many patients throughout the EU often can't move their health data between health systems or regions within the same country because health systems rely heavily on paper records or systems cannot communicate with one another.
Lawmakers are also concerned about possible data breaches, especially with increasing cyber attacks on health systems in the EU. Tiemo Wolken, a Socialist German parliamentarian, wrote in a statement that data protection is of “paramount importance.”
“Patients must be able to fully trust the digital exchange of data, and highly sensitive personal health data must not fall into the wrong hands,” Wolken said. “In the coming weeks, we will now examine whether the Commission's proposal meets these high requirements.”
©2022 Bloomberg L.P.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.