LexisNexis has mastered the art of combining, analyzing and delivering data and analytics to optimize quality, performance and impact across health care entities. Our solutions leverage the industry’s most robust and accurate socioeconomic and provider data, comprehensive public records, proprietary linking and claims analytics, predictive science and computing platform to transform the business of health care. David E. Glowacki, VP Technology, LexisNexis Health Care Jeff Diamond, Vice President of Market Planning and Product Management, LexisNexis Health Care
What emerging technologies hold the most potential for the healthcare industry?
Two areas in which we’re innovating are block chain and machine learning. Both require a vast quantity of high quality data, which gets to the heart of what LexisNexis® Health Care does. Blockchain has potential to transform healthcare and fix some of the more difficult issues that currently plague the industry. It could be used to create a common, highly secure database of health information that doctors and providers could access, facilitating better patient care and better sharing of research for new drugs and treatments. In machine learning, we’re involved in collecting and integrating vast data sources including public records data, healthcare provider data, claims data, business data and more. When that data is put into predictive models, it can identify health risk. With insights gleaned from data, medical personnel don’t have to wait for a patient to display symptoms before taking action. They can focus on prevention to avoid disease, health complications and hospital readmissions.
What are the challenges associated with strategically implementing innovative technologies?
Most organizations are managing multiple priorities, which can limit their ability to develop a change management strategy. Innovative companies recognize the cost and time investment associated with implementing new technologies but place a higher value on the benefits that will result. They foster an innovative culture that encourages people to think independently and be open to different perspectives. They empower employees to be creative by dedicating resources in time and money. They involve the primary stakeholders in development. Post implementation they work toward ensuring the technology is adopted and being used by stakeholders, while always driving toward that ROI.
How can innovative technologies help healthcare organizations achieve the coveted triple aim?
We believe data can greatly contribute to improving the patient experience, improving the health of populations and reducing the per capita cost of health care. The amount of available data is growing exponentially. Socioeconomic data, claims data and personal fitness data can all be integrated with a patient’s medical history to provide a clear, comprehensive lens into that person’s health. A bigger picture allows you to more easily identify a patient who is at risk and intervene to prevent a medical episode, one that might involve costly treatment or chronic care. The same idea can be applied to the population at large. When you aggregate large amounts of disparate data and link them together, you can see patterns, track trends and draw insights that might not otherwise be apparent. The data can be analyzed to understand patient behavior and then drive smarter decisions about intervention and treatment options.
How can organizations justify investments in new technologies?
At LexisNexis, a big part of what we do for our clients is promote innovation by harnessing the power of data and transforming key work streams. We enable healthcare organizations to leverage data and analytics to manage patient and provider information, improve health outcomes, identify market opportunities, reduce fraud and ensure compliance. We help them to use data technology in ways that mitigate their risk while improving their efficiency. In today’s fast-paced world, the real question isn’t, “How can organizations justify investments in new technologies?” It’s “How can they NOT justify those investments?”