The triple aim of healthcare is to reduce cost, improve outcomes and deliver better patient experience. These goals are largely dependent on the availability of healthcare data and the ability to analyze it. Fortunately, there is no dearth of healthcare data today. According to analysts, the volume of healthcare data which was at 153 exabytes in 2013 is projected to swell to 2,314 exabytes by 2020i . Adding to the ability to access and rapidly analyze newer forms of data, are technologies like speech-to-text, Artificial Intelligence platforms and Big Data tools. These technologies have the potential to accelerate initiatives such as Accountable Care Organizations (ACO’s), Patient Centric Medical Homes (PCMH), telemedicine and bundled payments. These, in turn, can bend down cost curves, improve outcomes and deliver exceptional patient experience.
Yet, the biggest barrier to achieving the triple aim of healthcare has been the legacy approach to data – one that focuses on custodianship instead of collaboration. Initiatives such as ACO, PCMH and bundled payments depend on data sharing between healthcare organizations. The quick and speedy route to data sharing in our opinion is a cloud-first approach.
Recent announcements such as the ones from Amazon, Berkshire Hathaway and JP Morgan, and continued rapid disruption in healthcare led by consumer-centric entities (CVS-Aetna, Cigna-Express Scripts, etc.,) point in one direction; the pace of change in innovation and transformation in healthcare, must accelerate as large employers and consumers will not standby and wait for the industry to fix itself.
Adopting a cloud-first approach has become a necessity for the journey towards differentiation and better business outcomes for payers and providers alike.
Cloud is much beyond infrastructure and application hosting