A credit card that gives access to
the medical data of its holder has been launched in Spain by a
group of companies including Caja de Ahorros del Mediterraneo
(CAM), the Alicante-based saving bank.
The new card is a first in the
world, according to MasterCard. It is the result of a partnership
between USP Hospitales, a private hospital chain owned by UK
private equity firm Cinven, and CAMGE Financiera, the company
created by CAM and GE Consumer Finance to provide consumer credit,
insurance and card services in Spain.
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The USP MasterCard card allows access, from anywhere in the world,
to the medical data of cardholders who have had medical
examinations at any of the 43 hospitals in the USP chain. The
information is collected at the first hospital check-up, and
subsequent updates are added later to the patient’s database.
Accessing relevant information
The idea is that patients can access the relevant information if
they need medical attention but find themselves unable to go to
their usual hospital.
To access the data, it is necessary to enter a PIN number at the
CAM website, http://www.camdirect.com/ – which
could be an obvious drawback if, for instance, the holder of the
card is unconscious and someone else needs to access their clinical
history.
CAMGE Financiera and USP are reported to be looking for an
alternative way to access to the data if such a circumstance
presents itself. But this might prove difficult, as Spain has
adopted some of the most restrictive data protection laws in the
world.
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By GlobalDataIn fact, the new card has been launched only after protracted
consultations with Agencia Española de Protección de Datos, the
national data protection agency. The agency has demanded that
clinical and financial information accessed through the card be
kept separate.
CAMGE is issuing a first edition of 10,000 cards. About 2,000 of
them will be the high-end Platinum version, to be offered to
selected clients of the three companies.
No fee is charged in the first year, and after that the charge is
dropped if the customer spends at least €1,800 ($2,657) in a single
year. USP says it expects around 100,000 people to hold a USP
MasterCard card in five years’ time.
All profits made by the hospital chain with the new card will go to
USP Fundación Alex, its charity, which is dedicated to promoting
the advancement of health in Spain and to helping children.
Customers can apply for the card online or in any of USP’s
hospitals or CAM’s branches around Spain.
Ongoing alliance
The card is part of an ongoing alliance between the
hospital group and GE in Spain. USP has said that it believes an
international alliance was fundamental to competing in the market
of online clinical data, as global giants such as Google and
Microsoft are already investing in it.
“We’ve put at USP’s service the know-how of CAMGE, a reference in
the market, to develop a pioneering credit card,” said Mario
Arnero, CAMGE’s vice-president, who is also the president of GE for
Spain and Portugal.
The new credit card is being publicised via an ad campaign based on
the words ‘salud, dinero y amor’ – health, money and
love.
CAMGE was created in 2005 when both CAM and GE wanted to make a
mark in Spain’s booming credit card and consumer credit markets. In
2006, CAMGE’s revenues reached €2.27 billion, a 10.9 percent
increase over its first year of operations. The card business
performed particularly well, increasing 21.9 percent to €453
million.
The company offers several ranges of cards, including one that is
designed for clients who are older than 60 and two high-end
products.
Rodrigo Amaral
