Is AMZN Disrupting Healthcare Digitization?

As if Amazon (AMZN– Research Report) hadn’t branched out enough already, it has now set its sights on the extremely lucrative healthcare market. The company revealed its potentially groundbreaking medical language processing toolat the AWS re:Invent conference in Las Vegas last week.

Amazon Strides Ahead

Welcome to “Amazon Comprehend Medical.” This is a new machine learning service that allows developers to process unstructured medical text and identify information. That can be everything from patient diagnosis, treatments, to dosages, symptoms and signs.

According to Amazon, the majority of health and patient data is stored today as unstructured medical text. Think medical notes, prescriptions, audio interview transcripts, and pathology and radiology reports.

Right now identifying this information is a manual and time-consuming process. Either it requires data entry by high skilled medical experts, or teams of developers writing custom code and rules to try and extract information automatically.

Both of these options take material resources away from other efforts to improve patient outcomes through technology. Now Amazon says it has cracked this conundrum.

Amazon Comprehend Medical allows developers to identify the key common types of medical information automatically, accurately, and without large numbers of custom rules. It can identify medical conditions, anatomic terms, medications, details of medical tests, treatments and procedures.

(Click on image to enlarge)

The best part: there are no servers to provision or manage – developers only need to provide unstructured medical text to Comprehend Medical.

And just in case you were worried, the software is also HIPAA (Health Insurance Portability and Accountability Act) eligible.

So what does all this mean?

Five-star RBC Capital analyst Mark Mahaney (Track Record & Ratings) is here to help us answer this question. Not only is he a Top 50 analyst, but on Amazon stock specifically he scores an impressive 85% success rate and 39% average return per rating.

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Disclaimer: TipRanks is an independent cloud based service that measures and ranks digitally published financial advice. TipRanks' natural language processing (NLP) algorithms aggregate and ...

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