Sensyne Health plc, the British clinical AI technology company, today welcomes EY Global Services Limited’s report entitled Realising the Value of Healthcare Data.
Oxford, UK; 19 July 2019: Sensyne Health plc (LSE: SENS), the British clinical AI technology company, today welcomes EY Global Services Limited’s report entitled Realising the Value of Healthcare Data.
EY estimates that curated NHS data could generate as much as £5 billion per annum while delivering around £4.6 billion of benefit to patients. This is through operational savings for the NHS, enhanced patient outcomes, personalised medicine and wider benefits to the UK economy from ‘big data’ use.
The report provides a suggested framework for the NHS to harness patient data in an ethical manner, demonstrating its high value to the healthcare ecosystem, and places the UK at the forefront of global healthcare innovation.
Sensyne Health is pleased to note that EY has concluded that collaborating with specialists in handling big digital data is considered the most sensible approach for the NHS. EY acknowledges that certain companies already operate in a secure environment with data storage and safety at the forefront of their infrastructure. Existing safeguarding measures include access to data only being available in a reinforced and air-gapped room with no internet connection, eliminating the risk of cyber-attack. This is exactly the security infrastructure at Sensyne Health.
In addition, and in keeping with Sensyne Health’s ethical framework and business model, the NHS remains the controller of the patient data, and no data is sold or transferred to a third party. This ensures appropriate ethical oversight and information governance are applied. Sensyne Health is an early signatory to the Department of Health and Social Care’s ‘Initial Code of Conduct for data-driven health and care technology’.
Lord (Paul) Drayson, Chief Executive Officer of Sensyne Health plc, said: “Data driven innovation will transform how healthcare is delivered in future. The quality and scale of NHS data, covering a population of over 50 million people from birth to death, provides the UK with a major competitive advantage and is a very valuable national asset. Enlightened policy that encourages ethical and fair collaborations between the NHS and the life sciences industry that use NHS data, could help to fund NHS services in future, as well as significantly improving the quality and affordability of care for patients.”
Pamela Spence, Partner and EY Global Health Sciences and Wellness Leader, explains:
“Unlocking the power of health care data to fuel innovation in medical research and improve patient care is at the heart of today’s health care revolution.
“Firstly, it is critical that all analyses and innovations adhere with medical ethics and research regulations. Patients must be informed and need to be confident in how their data is being used, and that their privacy and rights are safeguarded – in fact, we have seen data specialists taking considerable measures to ensure their infrastructure meets the gold-standard as set by DHSC and are willing to adopt best practice principles to protect patient data. We believe that tapping into the potential of this huge anonymised data source for the advancement of healthcare, while creating a substantial income generator for an ever-stretched NHS, can be done ethically.
“Patient-level records will trace a complete story of a patient’s health, wellness, diagnosis, treatments, medical procedures and outcomes. This can only be delivered by unlocking the power of data. But value isn’t in the data itself – it’s in the power of the analytics and the clever insights that can be generated from algorithms, and the actions that can be taken as a result.
“In today’s digital ecosystem, successful organizations will be those that can partner and share value between them. Mutual value recognition is critical to this new emerging shared economy.”
EY and Sensyne Health entered a Strategic Advisory Services agreement in November 2018 under which EY will provide ‘design and build’ specialist resources comprising strategy, analytics, cyber, valuation, risk and governance capabilities to Sensyne Health. Sensyne Health and its partners Bayer, Microsoft, JP Morgan and Peel Hunt are working together on the development of a national linked patient data capability and developing proposals to scale Sensyne Health’s current network of strategic research agreements with NHS Trusts.
-ENDS-
For more information please contact:
| Sensyne Health (www.sensynehealth.com) | +44 (0) 330 058 1845 |
| Lord (Paul) Drayson, Chief Executive Officer | |
| Lorimer Headley, Chief Financial Officer | |
| Julia Wilson, Director of Investor Relations | |
| Consilium Strategic Communications | +44 (0) 20 3709 5700 |
| Mary-Jane Elliott | |
| Sukaina Virji | |
| Melissa Gardiner | |
| sensynehealth@consilium-comms. |
About Sensyne Health
Sensyne Health plc is a healthcare technology company that creates value from accelerating the discovery and development of new medicines and improving patient care through the analysis of real-world evidence from large databases of anonymised patient data in collaboration with NHS Trusts. These anonymised patient data are ethically sourced in that any analysis of anonymised patient data (and hence the Company’s access to it) must be pre-approved for each programme on a case-by-case basis by the relevant NHS Trusts. This is to ensure that the purpose of the anonymisation and the proposed analysis are subject to appropriate ethical oversight and information governance, including conformance with NHS principles, UK data protection law and applicable regulatory guidance. Sensyne Health is an early signatory to the Department of Health and Social Care’s ‘Initial Code of Conduct for data-driven health and care technology’.
Sensyne Health is listed on the AIM Market of the London Stock Exchange (SENS.L)
For more information, please visit: www.sensynehealth.com
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. For more information about our organization, please visit ey.com
About EY Health Sciences and Wellness
The rise of the empowered consumer, coupled with technology advancements and the emergence of digitally focused entrants, is changing every aspect of health and care delivery. To retain relevancy in today’s digitally focused, data-infused ecosystem, all participants in health care today must rethink their business practices, including capital strategy, partnering and the creation of patient-centric operating models.
The EY Health Sciences and Wellness architecture brings together a worldwide network of more than 20,000 professionals to build data-centric approaches to customer engagement and improved outcomes. We help our clients deliver on their strategic goals; design optimized operating models; and form the right partnerships so they may thrive today and succeed in the health systems of tomorrow. We work across the ecosystem to understand the implications of today’s trends, proactively finding solutions to business issues and to seize the upside of disruption in this transformative age.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. For more information about our organization, please visit ey.com
