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What’s Next for Healthcare Information Technology Innovation?

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A Video Panel Discussion

By Shahid N. Shah MS

Dr. David Edward Marcinko MBA

http://www.healthcareguy.com/

Shahid N. Shah MSIn Nashville a few weeks ago, at the Vanderbilt Healthcare Conference, I gave a short talk on a panel focused on the question “What’s next for healthcare information technology innovation?”

The Key Questions

The talk focused on answering a couple of key questions:

  • What does innovation in healthcare mean?
  • Where are the major areas in healthcare where innovation is required?

The Take-Aways

And it had a few key takeaways:

  • Understand health tech buyer fallacies
  • Understand PBU: Payer vs. Benefiter vs. User
  • Understand why healthcare businesses buy stuff so you can build the right thing

Assessment

My speaker deck is found below (if you’re reading this through a feed reader you should click into the blog so that it is visible). You can download the PDF here. After you’ve flipped through it, let me know what you think by dropping some comments below.

Editor’s Note: Mr. Shah is a ME-P thought-leader and an internationally recognized enterprise software analyst that specializes in healthcare IT with an emphasis on e-health, EHR/EMR, Meaningful Use, data integration, medical device connectivity, health informatics, and legacy modernization. He contributed CH 13 to: www.BusinessofMedicalPractice.com and Chapter 13: IT, eMRs & GroupWare

Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

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9 Responses

  1. Epic eHR Fail

    This just in: “Despite Huge Investments in Electronic Health Records, Cost Savings Still Elusive” by Bruce Japsen was posted on Forbes only minutes ago.

    http://www.forbes.com/sites/brucejapsen/2013/01/07/despite-huge-investments-in-electronic-health-records-cost-savings-still-elusive/

    “Even though billions of dollars are being invested in electronic health records, the promise of cost savings has not reached its potential due in part to “sluggish adoption of health IT systems” and a U.S. health system that needs to change the way it provides medical care service, researchers at RAND Corp. say in a new analysis.”

    So if EHRs are a waste of money for physicians whose businesses are much more complicated than dentists’, it’s no wonder dentists don’t want them.

    Darrell

    Like

  2. On eHRs and HIT

    Mr. Shah – Unlike eMRs and cloud servers; paper charts never crash and file cabinets never go down.

    http://www.kevinmd.com/blog/2013/01/emrs-paper-charts-crash.html

    Winston

    Like

  3. Crowd funding for healthcare startups

    There may be fewer healthcare investors for the latest tech gadgets but funding is still available.

    http://www.healthcarefinancenews.com/news/crowd-funding-healthcare-startups?topic=03

    There is a nice synergy here for MDs and FAs.

    Max

    Like

  4. New entrants into the healthcare market threaten traditional businesses

    New entrants in the healthcare market could snatch billions of dollars of revenue from traditional healthcare companies if the traditional companies do not move faster to provide services in the setting consumers want.

    http://www.healthcarefinancenews.com/news/new-entrants-healthcare-market-threaten-traditional-businesses?topic=

    Fred

    Like

  5. Innovation

    Just this week in Atlanta – Georgia Tech hosted a conference focused on ways academic institutions and medical facilities can collaborate in the technology and engineering fields to solve medical problems.

    Dr. David Edward Marcinko MBA

    Like

  6. More on Innovation

    10 Ways Innovation Could Help Cure the U.S. Health Spending Problem

    http://thehealthcareblog.com/blog/2014/05/01/10-ways-innovation-could-help-cure-the-u-s-health-spending-problem/

    An interesting essay by Steven Garber.

    Dr. David Edward Marcinko MBA

    Like

  7. Entrepreneurship (ENT)

    By Antoinette Schoar-Director

    The past decade has seen a dramatic increase in the importance in entrepreneurial activity: the role of new enterprises in fomenting innovation, stimulating employment, and creating value for investors increased dramatically. Moreover, the resources available to support young firms also increased sharply: for instance, the pool of venture capital increased by nearly ten-fold. Yet surprisingly, academic research — particularly in economics — has not kept pace. The number of articles on entrepreneurship issues in the major economics journals actually declined in the 1990s from the levels seen in the 1980s.

    This lack of attention is a consequence of the barriers to pursuing research in this area. While data on public firms are readily available in computer databases, information on young private firms is much harder to come by. The consequences are unfortunate, as the tools and frameworks of economics have the potential to analyze entrepreneurial situations in an effective and compelling way.

    The NBER’s Entrepreneurship Working Group, established in the spring of 2003, seeks to address these problems. The Group brings together some of the leading discipline-based researchers in the field of entrepreneurship. While the effort largely draws upon those approaching these issues from a variety of economics-based perspectives — for instance, from the disciplines of corporate finance, industrial organization, and labor studies — leading researchers from other areas also are involved. A common theme, however, is that the participants have a strong track record or orientation towards publishing in the major discipline-based journals.

    The Working Group has three components. First, there is a regular series of workshops where new work is presented. Second, there are special projects that look at important themes relating to the economics of entrepreneurship. Finally, there is a provision for advanced doctoral students to visit the NBER’s entrepreneurship meetings

    The Entrepreneurship Group has been supported by a generous grant from the Kauffman Foundation. Working Papers by NBER Working Group – ENT. The New World of Private Equity Conference.

    Ann Miller RN MHA
    http://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

    Like

  8. The Next Generation of Medical Tools May Be Home-Brewed

    Innovation can be fast, cheap and outside corporate control.

    View at Medium.com

    Fascinating.
    Dr. David Edward Marcinko FACFAS MBA CMP™ MBBS [Hon]

    Like

  9. Predictions 2016

    Innovation and transformation are driving dramatic developments in the health care industry at a rapid pace these days. While the major insurers’ merger and acquisition activity will draw plenty of speculation about the health care landscape, I believe there are other, more immediate trends that will influence policy and financial decisions in 2016.

    • The 2016 Election could potentially hold transformative Affordable Care Act impacts, with a new President and approximately 470 seats in the House and Senate to be decided. We don’t know who will ultimately occupy those offices or whether the partisan balance will spell the possibility of the ACA being modified or repealed. Even with a strong Republican shift, there are significant barriers to repealing a law that now provides health insurance to millions of Americans. Some elements that would be easier for Congress to change about the ACA include risk corridors reimbursement, Cadillac Tax modification or deferral, or provisions affecting Medical Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs).

    • Disruptive start ups will continue to alter how health care is delivered as more members of the Millennial generation become health care consumers and entrepreneurial purchasers. Companies like Oscar, Zenefits, and Omada Health all appeal to those who are most comfortable functioning in a connected environment. These organizations have realized growing valuations as they’ve acquired market share at unprecedented rates. Their approach to care access should make telemedicine more mainstream, promote adoption of wearable devices for wellness and condition management, and expand utilization of “minute clinics” and other alternative treatment venues.

    • Not frequently discussed, but a growing area for health care is the application of non-occupational medical, pharmacy, and wellness/condition management principles to workers’ compensation. Inflationary increases in occupational medical have prompted steps toward implementing drug formularies, preferred provider networks, and wellness/population health management as risk management strategies to reduce paid claims as well as the incidence and severity of workers’ compensation claims. Though maybe not in 2016, we will be monitoring whether the line between occupational and non-occupational medical becomes less distinct or eventually eliminated.

    The business of health care has experienced both evolution and revolution through the decades. As with all predictions, there is usually something that nobody saw coming that everyone will need to adapt to. Next year we should all be prepared for an interesting ride.

    Henry Loubet
    [Chief Strategy Officer Keenan]

    Like

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