CONNECTIVITY = EFFICIENCY + VALUE
•
0 likes•160 views
Co-Founder and CEO of iTriage,Peter Hudson, MD, presents to the Denver Chamber of Commerce about using technology to empower healthcare consumers and creating efficiencies and increasing value through this empowerment.
Recommended
Recommended
More Related Content
Similar to CONNECTIVITY = EFFICIENCY + VALUE
Similar to CONNECTIVITY = EFFICIENCY + VALUE (20)
Recently uploaded
Recently uploaded (20)
CONNECTIVITY = EFFICIENCY + VALUE
- 1. CONNECTIVITY = EFFICIENCY + VALUE April 12, 2013
- 2. BIG EFFICIENCY IN HEALTHCARE IS A PROBLEM
- 3. Inflection point: Ripe for Disruptive Healthcare Innovation Access and Affordability Gap Growing Disease Burden Provider Cultural Change Global Community Consumer Cultural Change Healthcare Reform Employer Demands for Value Technology Innovation 3
- 4. PATIENT PATIENT
- 5. 50,000 PATIENTS 20+ ENTREPRENEUR OVER ENTREPRENEUR YEARS
- 6. SHAVE POINTS OFF CHANGE COST STRUCTURE PHYSICIAN CONTROL BEHAVIOR PEOPLE
- 9. CONSUMERS WANT IT 134% Growth in healthcare’s mobile audience in the past year. By far the largest growing sector 80% of Internet users research health online SHIFT TO 67% CONVENIENT, want access to more ACTIONABLE comprehensive info about docs online MHEALTH INFORMATION 81% want to make appointments online ahead of visit 70% of all mobile searches result in action within 1 hour
- 11. HISTORY OF MEDICINE DID NOT INCLUDE THE PATIENT
- 12. EMPOWERMENT OUTCOMES BEHAVIOR
- 13. QUALITY ISSUES MORE ACTIVATED LESS ACTIVATED PATIENT PATIENT PATIENT ENGAGEMENT 12.8% 28% Readmitted to the hospital with in 30 days of discharge CONSISTENTLY PREDICTS 19.2% 35.8% Experiences a medical error HOSPITAL PERFORMANCE 12.6% 41.8% Have poor care coordination among health care providers 13.2% 48.6% Suffer a health consequence because of poor communication among providers 15.1% 59.8% Lose confidence in the system Source: Adapted from AARP & You “Beyond 50” Patient Survey; Gallup Research, IMI Healthcare
- 17. “ It all begins with a song symptom ”
- 21. PATERNALISTIC SELF-DIRECTED
- 23. CUSTOMER NETWORK OF THOUSANDS OF HOSPITALS AND URGENT CARES, AND OVER 20,000 PHYSICIANS
- 24. MOST UBIQUITOUS, AND RAPIDLY GROWING MOBILE CONSUMER PLATFORM NEARLY 50+ N BILLIONS 9,000,000 MILLIO uses per year Of Page Views Total Downloads
- 26. 4.5/5 STAR RATINGS IN APP STORES
- 27. 19X INFORMATIONAL STEERAGE ACCESSING IN-NETWORK DOCTORS/CARE 40% ACUTE CARE EFFICIENCIES LOWER COST, Reduction in ER selection for ACUTE CARE non-urgent causes
- 28. MOVING FROM VOLUME TO VALUE REVENUE TRANSITION PERIOD VALUE MODEL $ REVENUE FEE FOR SERVICE MIX TIME
- 30. THANKS
Editor's Notes
- Efficiency problem in healthcare is a big problem
- Examples of healthcare patients (78-year-old diabetic v. 25-year-old adventurist)
- We became entrepreneurs focused on this area after 20+ years in the ER watching a broken system
- A lot of companies have taken on this problem by focusing on trying to change physician behavior, shave basis points off same cost structure, control people
- We took a different approach, we realized that we needed disruptive change to make a differenceBy focusing on the patient, turning them into a consumer, and building a more interactive process for understanding, seeking, and relating about healthcare, this problem can effectively be addressedWe realized that for the first time, people would start to carry around mobile computing devices and that this could allow a solution to actually work
- We took a different approach, we realized that we needed disruptive change to make a differenceBy focusing on the patient, turning them into a consumer, and building a more interactive process for understanding, seeking, and relating about healthcare, this problem can effectively be addressedWe realized that for the first time, people would start to carry around mobile computing devices and that this could allow a solution to actually work
- But, it’s really no just about getting information anymore. WebMD, for instance, has been providing health information online for years now. But today’s mHealth world is now about technology helping people take action on that information and solve problems. - even in the healthcare space.Research shows that 81% of people polled want to make appointments online.And, according to the Mobile Market Association, 70% of all mobile searches result in action within 1 hour. (Mobile Market Association)
- As soon as we realized what was happening in the mobile space, we started building our solutionNow why is this disruptive, hasn’t the patient been the focus of Healthcare for years
- History of medicine has not included the patient in the process, or educated the patient effectively
- By creating transparency, we can achieve empowerment, by creating empowerment, we can affect behavior, by affecting behavior, we can provide better outcomes, by providing better outcomes, we create the feedback loop that drives reinforces the entire loop. Net result is a better educated consumer, in a better marketplace
- AARP study, themore activated a patient, the less likely they were toexperience a negative health outcome such as readmittance to the hospital or a medical error.Patient engagement consistently predicts hospital performance on an array of crucial business outcomes, including EBITA per adjusted admission and net revenue per adjusted admission.Chronically ill patients who have email relationships with their doctors correlate with:Higher trustBetter HEDIS outcomes
- We are betting on human nature improving efficiencies in a marketplace, but this is not a leap of faith, there are other great examples of this (Expedia, ebay, eTrade)
- We are betting on human nature improving efficiencies in a marketplace, but this is not a leap of faith, there are other great examples of this (Expedia, ebay, eTrade)
- We are betting on human nature improving efficiencies in a marketplace, but this is not a leap of faith, there are other great examples of this (Expedia, ebay, eTrade)
- In the music business, they say “It all begins with a song”. In medicine, we believed, ”It all begins with a symptom”
- We believed that information alone would help “steer” patients, and consumers proved this to be true. When you make this actionable, and take the hassle factor out of going to the ER, finding an urgent care, or booking an apt with a physician, the impact is even greaterThe adoption by patients has grown significantly
- Pathways concept a lot of work flows that patients try to navigate, and are very complex in healthcare, start with clinical information, and end in highly fragmented healthcare delivery systemiTriage created a simple system that started with a symptom, and ended wherever the patient needed to go, and allowed you to jump in at any point, but made it simple, trusted, and
- We believed that information alone would help “steer” patients, and consumers proved this to be true. When you make this actionable, and take the hassle factor out of going to the ER, finding an urgent care, or booking an apt with a physician, the impact is even greaterThe adoption by patients has grown significantly
- Demand vs paternalistic information concept slide
- D. Study the problem, test oftenE. Does it work for the average consumer?
- The results have been impressiveSelf care searches – billions of data elementsInformational steerage – 19xAcute care efficiencies – 40% reduction in ER selection for non-urgent causesParticipation by healthcare providers - ~20% of the marketParticipation by Insurers – Acquisition by Aetna and charter to serve industry agnostically
- . I don't think I have to remind anyone in this room that the Affordable Healthcare provisions go into effect next year, which means premiums and coverage are changing now. We are no longer in a fee-for-service world, and physicians now understand that the greatest business opportunities and the best business operations start with quality of care. If you look at Medicare and Medicaid for instance, the federal government is not reimbursing physicians for repeat service or visits within a certain period of time. MORE FROM PETE
- Consumer video (1.5 minutes)
- Thanks