A report from EY has concluded that data held by the NHS could be worth as much as £9.6bn.
This estimate includes both the commercial value of the data itself, and the benefits that its application and use could bring to the NHS through efficiency, with each component making up around half the total value.
The value of individual data will depend on a range of factors including quality and maturity of the data, extent of aggregation and analysis, and limitations around access, exclusivity and how access is costed.
However, NHS policy (including recent moves around data exclusivity), and legislative restrictions around use of NHS data will limit which of these these latter options are pragmatically available.
The report also considers options for valuation of data, including a ‘top-down’ commercial market-based approach, or a ‘bottom-up’ approach which looks at the value offered by given data in terms of benefits to the NHS, and prices accordingly.
“Patient records held by the NHS today may have a value to a commercial organisation of several billion pounds, based on recent M&A transactions and public company valuations.
“Value of NHS patient data to commercial organisations, several billion pounds, could be generated by monetising NHS data at market value.
“There will be significant process and technology costs associated with aggregation, cleaning, curating, hosting, analyzing and protecting the transformation of these raw data records into a consolidated longitudinal patient-level dataset. To ensure success the NHS and the UK government will need to partner with companies that can help unlock these valuable patient insights.”
Access the full report here.