Patients and Big Data in Healthcare: Deriving Value and Accelerating Innovation
Nov 11 @ 4:00 pm – 6:00 pm
CURE and Yale, in collaboration with Boehringer Ingelheim, presents “Patients and Big Data in Healthcare: Deriving Value and Accelerating Innovation.” In an increasingly digital age, healthcare stakeholders can access significant amounts of data and knowledge using various platforms. Critically, this “big data,” represents a vast quantity of complex and diverse information. While payers, providers, healthcare experts and the pharmaceutical industry have the capability to analyze this data to gain insight, this information can be overwhelming to patients. This BioHaven event, moderated by Richard Foster, has convened a panel of experts to explore the topic of “big data,” the role of the patient in data analytics, the role of payers and what actionable data represents. Further discussion will explore the state of the art, including discussing national hospital systems using big data and local ones in CT and at Yale. Finally, the discussion will conclude with discussion about effectively incorporating big data into operations and where the field is headed.
Special kudos to my valued colleague Faye Lindsay, who was instrumental in pulling this event together!
Some of the topics the moderator and panelists will consider:
Defining and Exploring the topic
- Tell us what “big data” means to you and why it is important. Give us one example which illustrates the best use of big data to date.
- What is the role of the patient in data analytics? Does it benefit them? Do they naturally do it? How error prone are the data they provide directly?
- What is the role of the payer in all of this. Can they get the data they need to better set rates? Will “big data” help or hurt the payers?
- What is actionable data? What are the three major areas where we are making progress?
State of the Art
- Where is the best state of the art in using data to improve outcomes in the US? How do we know that is true?
- What hospital systems or MCOs are most advanced?
- How are we doing in CT compared to other states? How do we know?
- What is the state of the art in healthcare info tech/big data in the US. Where? Why? What do we need to do to catch up?
- Will all this measurement result in intense, and from time time, unproductive rivalries between docs, or hospital systems?
- How can the providers use “big data” and not put at risk the effectiveness of current medical care delivery processes which have takes years to define and perfect?
- Big Data and the bottom 5%
- We know we spend $1.35 T on 5% of the population. Do we know who they are and how we can best treat them. How much can we expect to reduce the cost, or improve the quality of the health care delivered to these patients?
- Big Data and Quality
- Integrating Big Data into Operations, effectively
What is coming?
- Who is controlling the pace of advance in Big Data these days – Academia (who), the Payers (who?), the providers (who?) the Feds (who and who in HHS/CMS?) What about the role of the National Cancer Hospitals. Or other specialized (by disease/condition) providers (e.g. DaVita)
Richard N. Foster, PhD, Emeritus Director, McKinsey and Co; Lecturer, Yale School of Management.
Dr. Foster is an emeritus director of McKinsey & Company, Inc. where he was a Director and Senior Partner. While at McKinsey he founded several practices including the healthcare practice and the private equity practices, the technology practice and innovation practice. From 1995 to 1998 he led McKinsey’s worldwide knowledge development.
At Yale, Dr. Foster teaches “Managing In Times of Rapid Change” and serves as the Executive in Residence at the Yale Entrepreneurial Institute. Dr. Foster’s research interests are in the relationships between capital formation, innovation, and regulation. Dr. Foster has written two best-selling books: Innovation: The Attacker’s Advantage (1986) and Creative Destruction (2001), both of which were cited as among the “ten best books of the year” when they were published by the Harvard Business Review.
Dr. Foster’s work has appeared in Business Week, the Wall Street Journal, the New York Times as well as several dozen articles in research and popular journals. Dr. Foster was recognized as one of their ten “Masters of Innovation” in the past century. He was the external leader of the Concil on Foreign Relations Study Group on Technological Innovation and Economic Performance which led to the publication of Technological Innovation Economic Performance (2001, Princeton University Press).
Harlan Krumholz, MD, Harold H. Hines Jr. Professor of Medicine (Cardiology) and Professor of Investigative Medicine and of Public Health (Health Policy); Co-Director, Clinical Scholars Program; Director, Yale-New Haven Hospital Center for Outcomes Research and Evaluation.
Dr. Krumholz’s research focuses on improving patient outcomes, health system performance and population health. His work with health care companies has led to new models of transparency and data sharing. His work with the U.S. government has led to the development of a portfolio of national, publicly reported measures of hospital performance. These measures also became part of several provisions of the health reform bill. He is currently working with leaders in China on government-funded efforts to establish a national research and performance improvement network.
Dr. Krumholz is an elected member of the Institute of Medicine, the Association of American Physicians, and the American Society for Clinical Investigation. He is a Distinguished Scientist of the American Heart Association. He serves on the Board of Trustees of the American College of Cardiology, the Board of Directors of the American Board of Internal Medicine and the Board of Governors of the Patient-Centered Outcomes Research Institute.
Rishi Bhalerao, MBA, Director of PatientsLikeMe, a free patient network and real-time health research platform.
At PatientsLikeMe Rishi manages major relationships with industry partners. Prior to joining PatientsLikeMe, Rishi spent several years as a management consultant with the Boston Consulting Group (BCG), and more recently, as an innovation consultant, at a firm started by Prof. Clay Christensen of the Harvard Business School. He earned an MBA from the Ross School of Business at the University of Michigan and also holds undergraduate and graduate degrees in Engineering.
Director of Business Analytics at Boehringer Ingelheim Pharmaceuticals (BI)and leads a team of analysts conducting analysis across all BI’s portfolio and communicating findings and strategic insights to internal stakeholders (Marketing, Sales, Managed Markets, Sr. Management etc.).
The key deliverables include using various data sources to measure performance, build promotional mix optimization modeling, behavior segmentation, portfolio optimization, etc. Prior to BI, You was a consultant at ZS Associates and then held various management roles in the pharmaceutical industry including Takeda Pharmaceuticals and Novartis.
Mike Matteo is chief growth officer at Optum, where he is responsible for creating and enabling growth across the company. Matteo focuses on the needs and opportunities of Optum’s customers and how the company can deliver creative, innovative solutions that meet their objectives. Prior to bringing his passion for modernizing the health care system to Optum in 2012, Matteo served for four years as chief executive officer of UnitedHealthcare National Accounts, where he expanded the company’s industry-leading position in the large-employer marketplace. Prior to becoming CEO, Matteo led business development efforts for UnitedHealthcare National Accounts, where previously he worked in product development and was instrumental in designing and launching the company’s first consumer-driven product innovations. He joined UnitedHealth Group in 1997 as a strategic account executive, helping many of the company’s largest employer clients meet their health care objectives.
Before joining UnitedHealth Group, Matteo was with Physicians Health Services, where he served the needs of major clients as an underwriting director and senior account executive. He began his career serving in multiple roles with Traveler’s Insurance Companies. Matteo graduated magna cum laude with honors from the College of the Holy Cross, and participated in the Columbia University Executive Management Program. He is on the boards of the MetroHartford Alliance, Hartford YMCA, and Connecticut Science Center, and served as chairperson of the Greater Hartford Arts Council Capital Campaign.