December 16th 2018
We are desperately seeking innovation and solutions to ever growing cost, quality and inequity concerns in healthcare delivery. The ultimate answer, as I have previously written, will be found in addressing the social determinants of health with social prescribing through linked workers and community health workers. Fortunately, we still have many opportunities to improve on the delivery side of services.
Three forces will dominate the market
1 Artificial intelligence and big data analytics
2 Patient engagement through transparency of pricing, transparency of objective data measures of quality and practice of evidence based medicine.
3 Technology using telemedicine services which can lower costs and minimizes disparities of care
I have been approached recently by three companies each working in these domains to transform healthcare The first uses AI to identify real time evidence based medicine practices. The second queries real time pricing to bring market forces and competition back into the healthcare market. The third uses objective outcome measures, analyzing large data sets to assess quality. These companies combined with telemedicine can provide cost effective, high quality services.
In a time when "value" is the watchword of the industry, we need to understand the formula cost divided by quality calculates the solution.
Using these three tools and many more yet to arrive in the market, we are poised to change health care. The adoption of innovation will likely led by self insured employers but clearly the writing is on the wall and providers and institutions will eventually adopt change to stay competitive in the market. If you know of services or products working to disrupt the market please comment and reach out to me to discuss so all can benefit.
Creating a network of solutions allows all to share progressive trends in this ever changing landscape.
Copyright Nicolas Argy 2018