Customer focused and years of experience. Craneware PLC, traded on the London exchange a UK based company 19 years old, 12 years KLASS leader in our industry. We are in over ¼ of the hospitals in the US. Talk through agenda
In the US we outspend all other nations but we lag in most indicators related to health. Our average life expectancy is going down while most are going up. Opioids. Obesity and Diabetes play a large role in that. Growth in spending is unstainable and is only going to get worse with our aging population. Status Quo is no longer an option we must find a better way.
Only industry that the provider of goods and services doesn’t know what it cost them or what they will get paid at POS and the customer aka patient doesn’t know how much it is going to cost them. And each customer may be different in what the provider will get paid and what the patient owes. I heard someone say the other day that we shouldn’t call it health care it should be sick care, because we only focus on the illness not the health Status Quo is no longer an option Read Michael Porter Quote.
This the current way we look for solutions. We have a pre determined idea of what we are trying to fix and then we look for the solution. Scientific Method has trained us to think like this, Problem Statement, propose a hypothesis and then run an experiment. Have you ever noticed how when you start looking at a new car you start seeing more of them. This same bias impacts our problem solving Indian hospital tour example
HBR Story: Hospital visits in Indonesia and India I would like to challenge us to look for ways to re-shape the system, to put the patient at the center to look at new ways of solving problems The old adage of if you can’t be part of the solution there is good money to be made by prolonging the problem. Status Quo is no longer an option So let’s talk about some ways to look at solving problems differently. There are new technologies and approaches that allow us to look at old problems completely differently
According to Ponemon Institute, healthcare data accounts for 30% of the world’s data storage, yet according to a linkedin study performed by Sitch, only 3% of Data Scientist are employed in healthcare EHR, Financial, Clinical notes, item master, charge master, supply catalog. Data to grow 10x by 2025 Approximately 25% of the annual healthcare spend is on Administrative costs.
Artificial Intelligence: Artificial intelligence (AI, also machine intelligence, MI) is intelligence demonstrated by machines, in contrast to the natural intelligence (NI) displayed by humans and other animals. In computer science, AI research is defined as the study of “intelligent agents": any device that perceives its environment and takes actions that maximize its chance of successfully achieving its goals. –Russell & Norving
Machine Learning: A field of computer science that uses statistical techniques to give computer systems the ability to "learn" (i.e., progressively improve performance on a specific task) with data, without being explicitly programmed –Arthur Samuel
Predictive Modelling: Using statistics to predict outcomes. –Seymour Geisser
Descriptive: Comparative looking at the past Predictive: Future action. Looking at a set of claims then what is a patient likely to have happen next, likelihood of readmission, disease progression, early warning for symptoms Prescriptive: looking at what actions should be taken, medicine changes, upping the monitoring of a patient
Buzz word mania and crypto currency trading story Supervised Machine Learning: Utilizing labeled data (input data and desired output variables) to predict a particular outcome or output variable Categorized: Linear Regression Lasso Ridge Elastic Net Uncategorized Classification Nearest Neighbors Classification Support Vector Machines Naïve Bayes Logistic Regression Learning to Rank Recommendation Engine
Unsupervised Machine: Utilizing unlabeled data (input data only) to understand something about the data (structure, find groupings, understand the distribution, etc.) Continuous Association Rules Hidden Markov Models Collaborative Filtering Recommendation engine Categorical Clustering K Means K Nearest Neighbors DB Scan Gaussian Mixture Models Hierarchical Clustering
Dimensionality Reduction Principal Component Analysis Singular Value Decomposition
Continuous: Numeric data
Categorical: Non numeric data
Status Quo is no longer an option Look at problems differently and don’t get caught up looking for the one needle in a haystack when there are probably many of different shapes and sizes
My Call to Action: Challenge the Status Quo: Ask “Why do we do it that way and is there a better way?” Look for the Art of what’s possible. Try to look at problems with a different lens Don’t settle for we have tried that before and it didn’t work here. New emerging technologies are making hard problems simple Don’t look for common solutions to common problems, instead look for uncommon solutions to the complex problems facing us in healthcare. Remember that what we do impacts the lives of others Be an agent of change
Status Quo is No Longer an Option
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Status Quo is No Longer an Option
Marty S. Smith, Chief Technology Officer