According to CNBC, Cupertino is attempting to replicate what it did for music: it wants to create sort of an iTunes for health that would serve as a centralized management system for all your medical info. Apple is reportedly already in talks with various hospitals and health IT industry groups to work out the best way to make its vision a reality. One of those groups is "The Argonaut Project," an initiative promoting the widespread adoption of open standards for health info, while the other is "The Carin Alliance," an organization that wants to give patients control over their own medical data.
It's unclear how far into the project Apple is at this point, but it sounds like the tech titan plans to store all your data on the cloud, since it has already started talking to cloud storage startups. If the company succeeds into making your full medical history available on the iPhone, it will solve what the medical industry calls "interoperability crisis." That's the lack of data-sharing between health providers that could lead to unnecessary mistakes and missed diagnoses that could be fatal for some patients.