Hospitals Sell Patient Information: Medical Data Transactions Surge in China, Reaching Up to 9.7 Million Won

Medical data that had been accumulating in hospitals in China is now being transformed into "profitable assets." These data sets are being traded as products utilized in artificial intelligence (AI) diagnostics, as well as in the development of new drugs and medical devices, signaling the emergence of medical data as a new market.

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According to Caixin on April 20, the First Affiliated Hospital of Shandong First Medical University (Qianfoshan Hospital) in eastern Shandong Province recently sold a data set on "clinical history and transplantation status of liver disease" to a local medical company for 30,000 yuan (approximately 650,000 won).

This data set contains over 1,000 anonymized clinical cases, providing information that can be used to assess the condition of patients with liver failure and the necessity of liver transplantation. The purchasing company plans to use this data to develop an AI-based auxiliary diagnostic model for liver diseases. This transaction marks the first case of medical data being traded in Shandong Province.

In January this year, data related to neurology, cardiology, and geriatrics held by Minqing County General Hospital in southeastern Fujian Province was traded at the Beijing International Big Data Exchange for 450,000 yuan (about 9.7 million won). Previously in Beijing, a carotid artery stenting surgery data set containing more than 2,550 cases was also sold, indicating a growing trend of data transactions across different regions.

This trend is closely linked to policy support. The Chinese government has introduced a three-year plan to encourage value creation through data elements in 12 sectors, including healthcare, in 2024, actively promoting the distribution and trading of high-quality data.

Local governments are also taking proactive steps. Wenzhou City in eastern Zhejiang Province has announced plans to release more than 45 medical data products to the market within the year and to complete over 10 transactions.

The medical data currently being traded is mainly used for AI-based imaging diagnostics, disease diagnosis model training, new drug and medical device research, and scientific research. Medical AI companies, pharmaceutical and medical device manufacturers, and research institutions are cited as the main sources of demand.

However, data does not immediately translate into economic value. Caixin reported that clinical data accumulated by hospitals is often difficult to use in its raw form, making it essential to refine and process the data for external use. This process requires investment in both software and hardware.

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