St. Paul, Minn.-based 3M Health Information Systems is teaming up with Verily Life Sciences (formerly Google Life Sciences), an Alphabet company, to develop new population health measurement technology for managing clinical and financial performance.
There appears to be increasing industry collaboration in the area of population health management as IBM Watson Health and Siemens Healthineers announced a strategic partnership to develop population health management tools this week as well.
For 3M and Verily, the joint technology 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 and algorithms sand data analytics.
The 3M and Verily platform will be designed to 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.
“At 3M, we are constantly evaluating how health information technology can help improve the efficiency, quality and cost of delivering care,” JaeLynn Williams, vice president and general manager, 3M Health Information Systems, said in a statement “This collaboration reflects our commitment to continued innovation in health information systems that address real-world problems facing health care today, while protecting the privacy and security of health data.”
“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,” Tom Stanis, head of software and analytics at Verily, said. “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.”
Get the latest information on Health IT and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.