Transforming Health Care: The Financial Impact of Technology, Electronic Tools and Data Mining


Over the past two decades, digital technology has revolutionizedhow business is done in every major industry, but one is lagging:health care. Ironically, or tragically, health care is the oneindustry for which the introduction of such technologies could havethe most profound impact on cost, quality, and our nation's health.Yet it remains inexplicably mired in a strictly pre-digital way ofdoing business.

The number of hospitals and doctors that have digitized theirpatients' ...

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Over the past two decades, digital technology has revolutionizedhow business is done in every major industry, but one is lagging:health care. Ironically, or tragically, health care is the oneindustry for which the introduction of such technologies could havethe most profound impact on cost, quality, and our nation's health.Yet it remains inexplicably mired in a strictly pre-digital way ofdoing business.

The number of hospitals and doctors that have digitized theirpatients' medical records in at least the most basic way hasincreased over the past eight years. Still, very few have anythingapproaching the caliber of an electronic records system capable ofintegrating patient records, prescriptions, and test results. Thefigures are even less impressive when it comes to the number ofU.S. health care systems that have made significant strides towardintegrating electronic medical records into systems that wouldallow doctors, hospitals, and patients to collaboratively share andanalyze information.

But, as a leading national expert in health IT, Phil Fasanoexplains in this important book that there is good cause for hope.Following the lead of visionary organizations such as KaiserPermanente, the Cleveland Clinic, and the health care systems ofDenmark, the Netherlands, and other forward-thinking nations, andsupported by progressive government initiatives in Washington, care providers are beginning to get on board the technologytrain. Soon, new and emerging technologies will radically transformhealth care delivery and enrich our lives in nearly unimaginableways.

Offering a compelling glimpse of that future, Fasano describes aworld where patients use mobile phones to take blood pressurereadings during video chats with their doctors; where nutritionistsanalyze texts of what their clients just ate for lunch; and wheremedical breakthroughs come, in real time, through the instantaneousexchange of information between researchers and clinicians aroundthe world.

But Philip Fasano does more than paint an alluring picture.Citing numerous examples, he explains that there is, indeed, afinancial return for savvy, patient-centered investors andentrepreneurs who are prepared to mine the rich veins ofopportunity opening up with the dawning of the high-tech healthcare revolution.

Seamlessly combining discussions of health care, technology, andfinance, he explores the full range of financial and logisticalissues surrounding the integration of new technologies, such ascloud computing and social media, with health care systems. And hemakes a cogent argument that, while health care reform may belaying the groundwork, the free market is the engine that willdrive the health care revolution.

Featuring numerous case studies and real-life examples, insightsfrom a top industry insider, and valuable suggestions for finance,business, and health care professionals who want to get in on theground floor of the health care technology revolution,Transforming Health Care is a must read for health careproviders, investors, and entrepreneurs.

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Product Details

  • ISBN-13: 9781118350003
  • Publisher: Wiley
  • Publication date: 2/18/2013
  • Series: Wiley Finance Series
  • Edition number: 1
  • Pages: 240
  • Sales rank: 595,126
  • Product dimensions: 6.00 (w) x 9.10 (h) x 1.00 (d)

Meet the Author

Philip Fasano is Executive Vice President and ChiefInformation Officer at Kaiser Permanente, where he directs thecompany's 6,000-employee health information technology team. He wasnamed one of Computerworld's 2010 Top 100 InternetTechnology Leaders in recognition of his exceptional technologyleadership and IT management strategies and, more recently, wasnamed one of CIO magazine's Premier 100 IT Leaders. Sincejoining Kaiser Permanente in 2007, Fasano has worked on usingtechnology to move the $48 billion not-for-profit health caresystem toward a vision of total health for more than 9 millionmembers. Fasano also served in IT leadership roles in some of thenation's top finance companies, including JP Morgan and DeutscheFinancial Services, a division of Deutsche Bank.

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Table of Contents

Foreword ix

Preface xiii

Acknowledgments xvii

Introduction xix

Chapter 1 The Emergence of Electronic Tools 1

Real-Time Health Care Begins 2

The Paperless Revolution: Let’s Get Going! 4

A Life-Saving Breakthrough 9

The Dawn of the Patient Record 12

The Digital Age Dawns 13

The Kaiser Permanente Experience 15

Electronic Health Records: All You, All Digital 18

From the Back Office to Better Health 21

From Paper to EMRs to EHRs to the Future 25

Notes 26

Chapter 2 The Future 31

Jumping the Hurdles 33

Just Connect 34

Lonely EMRs 35

Patient-Centered Care 38

Health Care Just Got Smarter 39

The Road Ahead 41

Health Financial Exchanges 44

HIEs and HFEs Serve the Patient and Create Profit 47

Notes 48

Chapter 3 Investing in Healthcare IT Innovations 51

The ATM Parallel 54

Consumers: Ahead of the Curve 55

Up Next: Mobile Banking and Mobile Health 57

Investing in Winning Healthcare IT Innovation 58

Looking for Investment in All the Right Places 66

Opportunities for Innovation and Return on Investment Abound67

Notes 68

Chapter 4 Virtual Visits 71

Easier Than Programming Your TV Remote Control 76

Rx for Good Health: No Waiting with mHealth 81

Mobile Health Is Personal Health 84

Notes 85

Chapter 5 Connected Care Teams 87

Telehealth for One-Stop Care 89

In the Hospital 92

Telemedicine: A Changing Role 93

Changing Practices 95

Where Do We Go from Here? 100

Helping as Many People as We Can 101

Notes 102

Chapter 6 Three Key Players Driving Healthcare IT Innovation105

Government: Rewarding Success Instead of Funding Failure 106

Government: Guardrails, Handrails, and Connectors 109

Government: Seed Money for Healthcare IT 112

Payers: Healthcare Plans and Insurers Enter the EHR Market115

Payers Leap into Accountable Care 118

The Private Sector: Leveraging Technology, Filling Unmet Needs120

Action by Government, Payers, and the Private Sector Needed toSucceed 125

Notes 126

Chapter 7 Global Healthcare IT 129

Denmark: Fostering Digital Health Care 130

The Netherlands: A Controversy over National Health Records134

New Zealand: Interoperability Leader 138

Global Lessons Hold Domestic Value 141

Notes 142

Chapter 8 Real-Time Learning 145

Introducing Real-Time Analytic Systems 147

Medicine’s New Superstar—The Health Data Analyst149

Care Registries: Putting Data into Practice 151

Putting It All Together 153

Notes 156

Chapter 9 Predictive Medicine 157

Saving Time, Money, Lives 161

Portable Care: Health Information Exchanges 162

World-Class Care for Everyone: Care Registries 164

Future Health: Research and Predictive Care 167

From Prevention to Prediction 169

Notes 170

Chapter 10 Connected System 173

Connected Care: It’s Personal 175

At Stake: Your Health and Your Money 180

Proactive Care: It Really Works! 183

Solving the Healthcare Spending Crisis 185

Getting There from Here: A Road Map 186

Conclusion 190

Notes 192

About the Author 197

Index 199

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