Health data is only part of it, and there needs to be more regulations about what and when it can be collected, stored, digitized, transmitted, sold, etc. Every aspect of this needs more regulation and much of it needs to be prohibited entirely. Regulating
just sale/licensing of the data is not enough, but is obviously a necessary part of it. We need to also regulate the conditions under which this data is collected and stored as well. Informed patient consent is needed before digitizing any patient data, let alone before a doctor entrusts that data to some SaaS provider. Patients need to know
which SaaS provider is storing their data on their servers, and have the opportunity and right to veto it without abstaining from medical treatment. Furthermore if the patient does opt into the third-party recordkeeping, they each need to be contacted and asked for consent if that company is ever sold or otherwise acquired, and given the opportunity to have their data deleted instead of transferred to the new owner of the company. Just because I consent to Small SaaS Provider A having my records 5 years ago doesn't mean I consent to Conglomerate B buying out A today and getting all my data in the process. Consent should be confirmed at every single time a new company wants to possess it, let alone transfer it or sell it.
For instance, suppose I consent for Fitbit to track me five years ago. Then Fitbit gets bought by Google. It should be illegal for Fitbit to transfer that data to Google without my consent, and illegal for Google to receive that data without my consent. It shouldn't even be legal for Fitbit 5 years ago to secretly store that data on rented Google or AWS servers without telling me which company they are subcontracting my data out to.
tl;dr: Possessing any data about people should be considered a toxic liability and a huge regulatory pain in the ass. User data should not be considered a valuable asset, but rather an evil that you loath to touch at all unless there's no other way.