The $416 million allocated to Investment NSW will attract much needed investment, research and development to the state and turn ideas into the jobs of the future. In addition, $35 million will support the delivery of the Entrepreneurship and Innovation Ecosystems Action Plan.
Bronwyn Le Grice, Managing Director and CEO of ANDHealth, says “As Australia’s only organisation specialised in the acceleration of commercialisation in digital health technologies, we see the gaps that exist to support new deep tech ventures in Australia. This funding will not only facilitate the generation of new ideas, design, and investment in NSW, but will create sustainable jobs and economic growth in targeted sectors across the state, including digital health.”
The Government’s $141 million investment in NSW’s Single Digital Patient Record (SDPR) project is critical to Australians receiving the benefits of a connected health system, which aims to unify the electronic medical record system and enhance care coordination.
ANDHealth is pleased to see a further $500 million for digital health initiatives, including virtual care and telehealth along with funding to fast-track roll-out of e-Prescribing, and $14.3 million for Real Time Prescription Monitoring (RPTM).
Bronwyn says “We know health IT such as telehealth, EMR and e-prescribing form the critical infrastructure needed to create a connected and distributed healthcare system of the future. This investment reflects the increased acceptance and uptake of digital health services and sets the foundation for more sophisticated and cutting-edge technologies.”
“We look forward to seeing the NSW Government continue to take further steps to make access to these services a permanent feature of our healthcare system. However, to benefit from a truly modern healthcare system, there remains a critical need to further support the growth of digital medicine and digital therapeutics,” says Bronwyn.
ANDHealth also welcomes the $10 million innovation fund for Tech Central and the Westmead Health and Innovation District to establish new infrastructure, including an incubator for start-ups.
Bronwyn says “At ANDHealth, we understand the challenges deep tech innovators face in commercialising their technologies, including the skills and talent gap. This investment marks a critical step in supporting the commercialisation of world leading research in biotechnology, diagnostics and digital health, and goes a long way to supporting the growth of these industries.”
“The NSW Government’s continued investment into digital technologies is a recognition of the importance of digital health in creating a future-proof Australia. ANDHealth, its Board and its Members, alongside our many partners and stakeholders, look forward to continuing to work in a proactive and constructive manner to assist and support the NSW Government as it looks to implement and add to these initiatives,” says Bronwyn.