By 2030, 49% of the US population are projected to have a chronic condition, accounting for 78% of total healthcare costs. Despite significant investments in healthcare and information technology, healthcare costs continue to rise and errors still persist. A smarter health and wellness focus is required to allow proactive and preventative care through virtual health management conducted by patients and their care team, in a patient-centric and patient empowered information environment, resulting in a proactive and preventative care. There are many new healthcare management opportunities and technical challenges as a result of Big Data and outcomes can be further improved when combined with self-management. A virtual health management solution with the components of Big Data sharing, decision support, virtual management, and care team monitoring is critical to improving quality and reduction of costs.