A recent article on the Star Tribune by Joe Carlson brought the conversation about healthcare and big data analytics close to home. Several Minnesota-connected companies led discussions on working across the industry to utilize data from insurance, hospital, pharma and medical device sources to drive better patient outcomes and manage rising costs. Working with big data analytics tools has been key to making this possible.
The first example comes from Medtronic and UnitedHealth. Many might think medical device and insurance companies might not always have the same goals in mind but not true. The two companies partnered together to discover the value of the features of a Medtronic insulin pump vs. other pumps on the market. Mr. Carlson reports they discovered that there was a decrease in hospitalizations due to complications from diabetes when the Medtronic pump was used, thus decreasing overall insurance costs. This led to a change of thinking. Dr. Richard Migliori, chief medical officer of UnitedHealth explains in the article, “It caused us to stop looking at line-item cost figures and start looking at, what is the total value? Because we saw a total value, we then began to wonder; shouldn’t we be (paying) on the basis of total value?” In 2016, UnitedHealth announced that Metronic would be its preferred insulin pump provider.
In Mr. Carlson’s article, he also gains insight from Mayo CEO John Noseworthy. Mr. Noseworthy adds that the industry has changed in the last five years and the atmosphere is one of “partnership, trust and transparency” in order to work together to bring down rising costs and improve patient outcomes.
Finally, St Jude Medical is working on a solution to reduce chronic pain by using a medical device versus pain medications. According to Mr. Carlson’s article prescription opioid painkillers are not only addicting but they lead to 15,000 deaths per year. Using big data analytics, St. Jude is looking to make the case for using its device which has a larger upfront cost but may reduce overall costs long term.
The power of big data analytics and a great spirit of partnership has helped make these connections possible.