3M Health Information Systems is to collaborate with Verily Life Sciences (formerly Google Life Sciences), an Alphabet company, to develop new population health measurement technology for managing clinical and financial performance.
The joint technology platform will be designed to turn population-level health data-sets into manageable and prioritized information so that participating hospitals, health systems, payers, regulators and strategic partners can evaluate performance, reduce waste and identify areas that impact efficiency, quality and cost.
The platform will build on 3M’s experience in health data coding and classification and risk stratification methodologies, which are used by federal agencies, hospital associations, and state Medicaid agencies for hospital quality reporting and as the basis for new outcomes-based payment models. Verily will apply its software tools, algorithms and data analytics.
The platform will also include quality measures that assess complications, readmissions and mortality, and cost measures like length of stay and specific service line costs. It will evaluate multiple performance measures across departments, procedures and practitioners, including downstream providers such as specialists, home health and transitional care facilities.
“We have the data analytics and software to understand trends and make predictions across large quantities of data, and we see a clear opportunity to apply this approach to health data for insights that can impact care,” stated Tom Stanis, head of software and analytics at Verily.
“Together, with 3M’s know-how and deep expertise in parsing and coding clinical data, we imagine a world where providers have precise information to guide focused improvement, and can consistently access objective, actionable feedback to make informed decisions.”
Health IoT for independent living
The news of the partnership comes as Samsung Electronics Australia, Deakin University and independent research group Unisono have announced that they will collaborate on internet connected smart home technologies for the healthcare sector.
The partnership will guide Australian R&D programs into how IoT and artificial intelligence platforms can support assisted living. The partnership will trial of three smart home technology-focused projects focus on diabetic patients, elderly and brain/spinal injury patients. Samsung’s hardware and Deakin’s software would be used in these projects.