Anyone who knows me will tell you that I’m a huge science goober. My time is generally split between the lab and here at gap. While busy, I absolutely love both of the things that I do. My research ventures into neuroimmunology, where I focus primarily on immunotherapy to combat glioblastoma multiforme, the most common form of brain cancer. Talk about a bridge between jobs!
Recently, all of us at gap intelligence got together to discuss new markets to venture into and naturally I championed for the healthcare and biotech industry. The healthcare industry is facing major changes in terms of information technology and management, and solutions providers are taking notice. In 2013, venture capital funding in the Healthcare IT sector totaled to $2.2 billion. What better way to tap into a $1.67 trillion US market than by harnessing the accurate and timely data capturing capabilities, as well as the industry knowledge of gap intelligence?
How much are hospitals spending on information management systems? Sentara hospitals, composed of eleven hospitals in Southeastern Virginia and Northeastern North Carolina, budgeted $237 million over 10 years for Epic Systems Corp. EHR (electronic health records), and saw a return of $53.7 million.
With the healthcare reform, concise and correct patient documents are more vital than ever. Health information management (HIM) is expected to change drastically, forcing hospitals to look at how patient-generated data is used, and how it affects patients. Big data from the influx of smart, connected, and disparate devices could very well be what pushes the entire healthcare industry to run more efficiently. Throughout the industry, big data is being touted as the future; ranging from personalized cancer therapy programs, to predictive models, which can help doctors determine health issues before they arise.
However, governance and analytic systems are far from perfect, highlighting the lack of trust between departments. IT departments don’t always fully understand how physicians and medical professionals use data, often resulting in overlapping and redundant systems. Regardless, there is a fundamental shift in healthcare: hospitals are beginning to look at data with an enterprise view and acquiring devices and software to help organize clinical informatics strategy. The problem here is bridging the gap between the healthcare industry and technology.