“Using Big Data to Improve Patient Outcomes and Reimbursement”
Big Data. The term is ubiquitous in our culture and its importance was validated by the attendance of over 500 people at the leadoff panel during the OCTANe 2016 Medical Device and Investor Forum. The panel, titled “Using Big Data To Improve Patient Outcomes and Reimbursement,” was hosted by DevicePharm CEO, Clay Wilemon.
The panel featured executives from global market-leading and innovative upstart medical device, molecular diagnostics, laboratory diagnostics, episode of care management, and population health management companies. Companies such as Proove Biosciences, Agendia, Illumina, 23 and Me, Syncera, and Edwards Lifesciences were represented.
The panel focused on the range of applications for what is categorized as ‘big data’ as well as the headwinds still facing the market. Proove Biosciences CEO, Brian Meshkin, made the key point that it is not the size of the data, but the actionable nature of the data that determines its true value. In other words, what can we actually do with the data that is relevant?
Stuart Morris-Hipkins, Senior Vice-President and General Manager at Syncera, made the point that automating the capture and application of data on something as simple as what is on a surgeon’s instrument tray in the operating room can have a big impact on quality and cost of care.
Clay Wilemon, DevicePharm CEO said, “This panel did a great job of bridging the gap between the theoretical application of ‘big data’ and how data is being used in an actionable way today. What was really impressive was the array of big companies and high-tech upstarts represented on the panel. A few of those billion-dollar revenue companies were upstarts themselves just a few years ago.”