It's Not the Size but What You Do with It: 'tiny data' in a Perverse Market
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It's Not the Size but What You Do with It: 'tiny data' in a Perverse Market

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Presentation Delivered at Meaningful Use of Complex Medical Data / MUCMD on an alternative read on "Big Data" in healthcare.

Presentation Delivered at Meaningful Use of Complex Medical Data / MUCMD on an alternative read on "Big Data" in healthcare.

http://mucmd.org

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    It's Not the Size but What You Do with It: 'tiny data' in a Perverse Market It's Not the Size but What You Do with It: 'tiny data' in a Perverse Market Presentation Transcript

    • Its Not the Size but What You Do with It:‘tiny data" and Business Value in a ‘Perverse’ MarketMeaningful Use of Complex Medical Data Joshua Rosenthal, PhDChildren’s Hospital, Los Angeles - 2012
    • Context Idea 1 %* Prototype 1 %* Funded 1 %* Exit 1 %* Exit w/ Good Multiple *Health Care Start Ups fail at astounding, disproportionate rates
    • Alternatives Better Odds (seriously) Default Noble, but hard & < 10 years leftBetter Odds (w/ life insurance) Not an Alternative (infra) See “Default”
    • User Guide Most ‘Successes’, Aren’t Note: Payer buying Provider
    • User Guide
    • User Guide (ALT) Consultants / SaaS-based Professional Services, data / analytic Providers platforms
    • Hey, what aboutSocial / Public Good?You’re always better off if you create market value(even if you’re a non-profit) MPH?With finite budgets, non-profits will compete against each other;need market reinforcement/accelerationCan go for-profit w/ public/social goodfor broader usage/greater impact* * KickStarter.com gave more $ to the arts last year than the NEA. Cf. WarbyParker & eyeglasses for Africa >
    • Context High Big Data ‘Tiny’ Data? Biz Value Start with Biz ? Problem, figure ? out data / tech Figure out how VC / to create value Accelerator from tech / data Most: ? Cool Tech Complex Data Low Biz Value Comp Sci. Interests Hard Easy
    • Health care has not done so well In this race vs. other verticals “Just wait ‘till next year Financial Services & Energy!”
    • Lots of Bodies Health Care, Where Good Ideas Go to Die
    • Lots of failure (DTC*) *Direct-to-Consumer Note: People don’t like to pay out of pocket for something they don’t like to do or don’t want to know about
    • Lots of noise & fluff Speaking at a major health care conference near you
    • Noise I have better Hmm, ‘fixing the pipes’ engineering / architecture was not the answer
    • Lots Fluff I have better Hmm, the pretty colors design & experience on my social app didn’t stop me
    • Lots of ‘false indicators’ My data is bigger than yours Hmm, this fixation indicates... Silly boys
    • Lots of market perversities * * Source: Dartmouth Atlas for Unwarranted Variation
    • Review FAIL Health Care Start Ups fail at astounding, disproportionate rates
    • Old Paradigm – Fee for ServicePayers aggregate –but have not historically been “health care” “Actually, I make more money off of bad drivers.”* (Read w/ accent) Note: Medicare $ > Employer $ Employer populations = tougher outcomes (3-year turn) Cf. Medicare reimbursement rates
    • Old Paradigm – Fee for ServiceHospitals/Providers may generate revenueby filling rooms Keep patients away?!? I was trying to book you for an extra night!
    • Shift: Demographic –> MarketMBA test:“To stay ahead of the game, the market I should look at is ____________ .”
    • Market Shift = New Profit ParadigmP4P to incentivize market (including payers) WRONG – This isn’t the end, it’s just the beginning!* * Cf.
    • Government is releasing lots of data* * Expertly captained by
    • Need market to adopt – use to create value Cf. Weather & Geo-Location data Thanks, government!
    • ‘tiny data’The data of the New Profit ParadigmNEW PROFIT PARADIGM:Profit generation (vs. cost savings) zero-sum consolidationImpact across Growth, Performance & ValueExpanding from Medicare to Medicaid & CommercialPlayers are incentived (driving M&A for hospitals, populations, medical management, etc.)-‘TINY DATA’:
    • ‘tiny data’The data of the New Profit ParadigmNEW PROFIT PARADIGM:-‘TINY DATA’:Not Member, Claim, EH/MR, lab, genetic, etc.Summarized aggregate, contract around NEW P4P (lots public)Measured at contract, cohort, geographyAcross entire spectrum of health care(Chronic, Wellness, Quality of Care, Customer Service, Customer Satisfaction)Connections between entities (docs, hospitals, nursing homes) & Crosswalks to disparate dataRelationships & standardization vs. modeling & explorationProduct vs. research/consulting
    • ‘tiny data’ Pros Cons Fits on a Lose ‘size thumb drive bragging rights’ Scale No lone through ranging / platform heroics Creates May have market value to work w/ this guy
    • Context High Big Data ‘tiny data’ Biz Value Low Biz Value Hard Easy
    • So?
    • Do Good… It’s easy to do good... ... but you are probably not profitable If P < EHC x DWS, then 501c3P: Profit; EHC: Employee Head Count; DWS: Dog Walker’s Salary; 501c3: Non-profit
    • … and Create Value It’s easy to make money... ... but you are probably doing bad things“I’ll bill you.”
    • Big ‘tiny’ orIt’s tough to do good & create value in Health Care So let’s practice together