Future Of Healthcare It August 2010


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Future of HealthCare IT Presentation - August 2010.

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Future Of Healthcare It August 2010

  1. 1. Future of HealthCare IT Michael K. Wons President and CEO August 2010 © 2010 CellTrak Technologies, Inc
  2. 2. State of Computing in HealthCare 1. ~$10B IT investment on an annual basis 2. Back-end and Clinical based solutions starting to show value but have a long way to go… 3. Most organizations are tip-toeing between innovation silos and a house of cards due to legacy system hangover and limited new development 4. Payer networks and reimbursement model is driving future investments 5. “Traditional” implementations of Back-end and Clinical based systems are moving toward more service oriented models 6. Collaborative Healthcare model is emerging 7. Agencies want the ease and simplicity of mobility but only if it is an end- to-end integration solution 8. Government stimulus and care funding becoming available 9. FDA regulation of Healthcare apps starting with Mobile solutions… 10. Privacy concerns and source-of-truth are limiting factors future success © 2010 CellTrak Technologies, Inc
  3. 3. Healthcare is changing… © 2010 CellTrak Technologies, Inc
  4. 4. Future of Healthcare IT • Clinical – Quality measurements, quality reporting and business intelligence • Process – Best practices (clinical, financial and administrative) • Software – Usability, flexibility and customizable (carefully managed) • Hardware – Faster, more connected technology, platforms and mobile devices • Training – Enhanced, self-service more efficient to deployment models • Research – Clinical trials, evidence based medicine, and pharma research © 2010 CellTrak Technologies, Inc
  5. 5. Healthcare IT Foundation • Healthcare IT is a cornerstone for the future of Healthcare – Improve Quality and Care Coordination • Enable circle of care, timely access to patient information – Patient Safety • IOM Report that up to 98,000 Americans die each year from medical errors – Patient Satisfaction • Reduce duplicative paperwork, increase access, education and accountability – Improve Billing and Collections • 15 minute increments, auto calculations, time tracking, scheduling, etc… – Clinical Research • Participate with no workflow disruption with provider and patient revenue – Reduce Waste, Fraud and Abuse • Estimated $70B-$200B annually in fraud, $600B-$850B annual overall spend across North America © 2010 CellTrak Technologies, Inc
  6. 6. Healthcare IT Transformation Preventative Health – Self-service Era • Wellness programs • Self-service intelligent devices • Proactive prevention data • Smart home devices Collaborative Health – Provider-centric Era • Collaborative Circle of Care • Homecare • Physicians and Pharmacy connected to EHR • Treatment plans involve extended healthcare professionals Transactional Health – Facility-centric Era • Clinical Back-end ERP Systems • Government electronic health records (EHR) initiatives • Payer Networks – Transaction Payment Systems • Lots of information from lots of sources but missing the “source of truth” 2000 2010 2020 2030 © 2010 CellTrak Technologies, Inc
  7. 7. Revisiting Ten Aging in Place Trends Highlights Advancement in Technologies 1. Location-aware technologies enables more info, greater safety 2. Home automation technology vendors see possibilities 3. Mobile health app possibilities grow 4. Virtual doctors’ visits and other health innovations 5. Touch screens and eReaders 6. Big companies invest in monitoring and telehealth technologies 7. Broadband access and Internet use among seniors grows 8. Caregiver portals and tools blossom. 9. Personal emergency response systems get a makeover 10. Last but not least, VCs show interest in aging in place technology Source: Laurie Orlov, Founder, Aging In Place Technology Watch © 2010 CellTrak Technologies, Inc
  8. 8. Key Investment Buckets for Healthcare IT 1. Increased access to healthcare and health-related Electronic Health Mobile information Records (EHR) Health 2. Improved ability to diagnose and track diseases Empowering 3. Timelier and more Patients actionable public health information 4. Reduction in fraud in Collaborative Clinical the reimbursement HealthCare Integration network 5. Patient ownership for health information © 2010 CellTrak Technologies, Inc
  9. 9. The Circle-of-Care in Healthcare is changing… Hospitals and Care Centers Trusted Advisor Payer and Doctors and Health Plans Physicians Family Individual Friends Home and Governments Community Care How does this impact your agency? © 2010 CellTrak Technologies, Inc
  10. 10. Healthcare IT mHealth Q Diagram from Triple-Tree “mHealth solutions are designed to better connect people and resources across the patient/provider continuum to enhance patient participation in health related decisions…” © 2010 CellTrak Technologies, Inc
  11. 11. Homecare Market • Home Healthcare, Hospice and Private Duty – Over 10,500 Licensed Homecare Agencies in North America – Over 2.7 Million Field Staff (Aides, Nurses, Social Workers) – Highly Fragmented industry in beginning stages of consolidation – Increase in agencies, patients and technology • Industry Challenges – Declining Reimbursements – Nursing / Professional Shortage and Staff Retention – Demand for Increased Productivity of Field Staff • Homecare IT market – Fastest growing mobile workforce through 2016 – IT Investment growing to over $5B annually – Scheduling, Time Tracking, Location Based Services and Patient Specific Care Plan solution needs © 2010 CellTrak Technologies, Inc
  12. 12. Homecare enhances Circle of Care • Homecare services expanding • Smart homes and devices • Self service • Access to “trusted information” • Improved reimbursement for providers • Integrated solutions “Consumer preference to receive care in the home or in a community-based setting…” © 2010 CellTrak Technologies, Inc
  13. 13. Resources and Additional Information © 2010 CellTrak Technologies, Inc
  14. 14. Thank You for Your Time! For more information please visit www.celltrak.com You can also follow CellTrak on Twitter and Facebook © 2010 CellTrak Technologies, Inc