TiE Healthcare Technology Innovation Zen Chu
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Overview of the Challenges & Opportunities within Healthcare Information Technology amid the 2009 Healthcare Reforms. Cost savings, business models and medical technology and software solutions are......

Overview of the Challenges & Opportunities within Healthcare Information Technology amid the 2009 Healthcare Reforms. Cost savings, business models and medical technology and software solutions are described.

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  • 1. Healthcare Information TechnologyInnovation & OpportunitiesThe Indus EntrepreneurTiE Boston SymposiumMicrosoft New England July 2009
    Zen Chu
    Accelerated Medical Ventures
    ZEN @ ACMEDX.COM
  • 2. Unique Healthcare Mission & Business
    Safety & Effectiveness Paramount
    Evidence-Based Outcomes
    Regulatory & Reimbursement Barriers
    Cost-effective to society
    Alignment of 4 P’s & Big G
    Patients
    Payers
    Providers
    Products
    Goverment
    Multiple Customers
    Who Pays?
    © zen@acmedx.com
  • 3. Procedures
    Products & Services
    Drugs, Medical Devices, Capital Equipment
    Software, Services
    Patients vf
    Healthcare Players
    Providers
    Physicians, Hospitals, Nursing Homes
    $$$
    Payers
    Insurers, Employers, Medicare
    Information Asymmetries Confound Best Practices
    © zen@acmedx.com
  • 4. Healthcare Delivery Value ChainComplex Value Chain Across Disease Cycle
    Source: Porter & Teisberg, Redefining Health Care
    © zen@acmedx.com
  • 5. US Healthcare Spending 2007$2.3 Trillion, 15.2% GDP
    Other
    Devices, Diagnostics
    Pharmacy, etc
    Hospital Care
    Admin Costs
    Nursing Homes
    Physician Services
    Pharma
    Source: PHRMA Annual Report 2008
    © zen@acmedx.com
  • 6. Sources of Healthcare Dollars
  • 7. Health Care Cost InflationPassed Along Value Chain Without Cost Controls
    Source: McKinsey Global Institute
  • 8.
  • 9. Who Aligned To Manage Wellness?
    Source: Clayton Christensen, Innovator’s Prescription
  • 10. Fragmentation & Scalability ChallengesGeography, Specialty, Disease State
    700 Payers
    Negotiated Payments & Pricing Among Each Player & Region
    5700 US Hospitals
    Medical Product Companies
    © zen@acmedx.com
  • 11. Successful Products & Services Pattern
    Prove Effective Therapies for Right Patient
    Unmet Medical Need
    Remove treatment ambiguity
    Improve Standard of Care
    Comparative Effectiveness
    Prove it quickly & efficiently
    Productivity = Save Physician Time
    Reduce Patient Pain
    Enable New (Cheaper) Provider & Venue
    Intellectual Property (Patents, trademarks, brand)
    Lower Cost
    Necessary But Insufficient
    © zen@acmedx.com
  • 12. Healthcare Information TechnologyChallenges
    HIT under-invested vs other industries
    2.2-3.8% IT/Total Operating Expense (HIMSS)
    50% less gross revenue investment than banking (Gartner)
    Spaghetti code & lack of standards
    Privacy & security costs
    Technology cost inflation under microscope
    … But strong case for HIT as Quality Driver
    Obama’s $19B HITECH Funding
    © zen@acmedx.com
  • 13. Enabling New Business Models
    NEW MODEL EXAMPLE
    New Device SonoSite Ultrasound
    New Workflows e-Prescribing
    Payment Services Athena Healthcare
    Collective Knowledge Sermo Social Network
    New Therapies Image-Guided Therapy
    Direct to Consumer iPhone Disease Management
    Outsourcing O2i Teleradiology
    Decentralization In Home Warfarin Testing
    Pay 4 Performance Cerner
    Bundling Episode-Based Pricing
    Unbundling Bluetooth BP reporting
    © zen@acmedx.com
  • 14. Additional Reading
    Viswanathan, Vijay. “Special Report: Medicine Goes Digital.” The Economist 16 April, 2009.
    Gawande, Atul. “The Cost Conundrum.” The New Yorker 1 June, 2009.
    Gawande, Atul. Complications: A Surgeon’s Notes On An Imperfect Science. 2002, Picador.
    Center for Accelerating Medical Solutions. Investing in Innovation: Accelerating Disease Research Through Philanthropy and Business. www.fastercures.org, 2005.
    Chesbrough, Henry. Open Business Models. 2006, Harvard Business School Press.
    Christensen, Clayton. The Innovator’s Dilemma. 1997, Harvard Business School Press.
    Christensen, Clayton, et al. Seeing What’s Next. 2004, Harvard Business School Press.
    Megantz, Robert. How to License Technology. 1996, John Wiley & Sons.
    Moore, Geoffrey. Crossing the Chasm. 1991, HarperCollins.
    Porter, M. and Teisberg, E. Redefining Healthcare: Creating Value-Based Competition on Results. 2006, Harvard Business School Press.
    www.thehealthcareblog.com
    www.health2con.com
    www.himss.org
    http://www.economist.com/specialreports/displaystory.cfm?story_id=13437990
    http://cimit.typepad.com/cimit_forum_blog/2008/05/zen-chu-slides.html
    http://cimit.typepad.com/cimit_forum_blog/2009/04/the-new-economic-playbook-for-healthcare-development.html
    © zen@acmedx.com
  • 15. Healthcare Information TechnologyInnovation & OpportunitiesPanel Discussion
    Prof. BhaskarChakravorti Harvard Business School, McKinsey
    Zen Chu Accelerated Medical Ventures
    Pam RandhawaSermo, Inc.
    Joseph Ternullo Partners Healthcare
    Center for Connected Health