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Sunday, May 5, 2013

Transforming Health Care: The Financial Impact of Technology, Electronic Tools and Data Mining 1st edition, Phil Fasano



Over the past two decades, digital technology has revolutionized how business is done in every major industry, but one is lagging: health care. Ironically, or tragically, health care is the one industry for which the introduction of such technologies could have the most profound impact on cost, quality, and our nation's health. Yet it remains inexplicably mired in a strictly pre-digital way of doing business.

The number of hospitals and doctors that have digitized their patients' medical records in at least the most basic way has increased over the past eight years. Still, very few have anything approaching the caliber of an electronic records system capable of integrating patient records, prescriptions, and test results. The figures are even less impressive when it comes to the number of U.S. health care systems that have made significant strides toward integrating electronic medical records into systems that would allow doctors, hospitals, and patients to collaboratively share and analyze information.

But, as a leading national expert in health IT, Phil Fasano explains in this important book that there is good cause for hope. Following the lead of visionary organizations such as Kaiser Permanente, the Cleveland Clinic, and the health care systems of Denmark, the Netherlands, and other forward-thinking nations, and supported by progressive government initiatives in Washington, U.S. health care providers are beginning to get on board the technology train. Soon, new and emerging technologies will radically transform health care delivery and enrich our lives in nearly unimaginable ways.

Offering a compelling glimpse of that future, Fasano describes a world where patients use mobile phones to take blood pressure readings during video chats with their doctors; where nutritionists analyze texts of what their clients just ate for lunch; and where medical breakthroughs come, in real time, through the instantaneous exchange of information between researchers and clinicians around the world.

But Philip Fasano does more than paint an alluring picture. Citing numerous examples, he explains that there is, indeed, a financial return for savvy, patient-centered investors and entrepreneurs who are prepared to mine the rich veins of opportunity opening up with the dawning of the high-tech health care revolution.

Seamlessly combining discussions of health care, technology, and finance, he explores the full range of financial and logistical issues surrounding the integration of new technologies, such as cloud computing and social media, with health care systems. And he makes a cogent argument that, while health care reform may be laying the groundwork, the free market is the engine that will drive the health care revolution.

Featuring numerous case studies and real-life examples, insights from a top industry insider, and valuable suggestions for finance, business, and health care professionals who want to get in on the ground floor of the health care technology revolution, Transforming Health Care is a must read for health care providers, investors, and entrepreneurs.

I started developing healthcare IT products and services back in 2006 when I co-founded a healthcare IT startup. Back then, there were lots of uncertainties regarding healthcare reform (still is today). I wished there was a visionary book like Transforming Health Care by Phil Fasano; who provided a strategic roadmap on IT innovation that is rapidly transforming the antiquated America's health care system today. The stories Phil told are supported by facts and practical case studies. The passionate story-telling style makes the book welcoming to read. I find this book especially useful for innovators, technologists and entrepreneurs who want a holistic view of what and how information technology can be applied to transform healthcare. With his financial background, Phil's discussion on healthcare financial exchange (HFE) is especially insightful. The book includes a broad spectrum of topics covering, personalized healthcare, mobile health, preventive (even predictive) medicine, and the financial impact on a reformed healthcare system that puts the patient in the center of it all. You should read this book if you are looking for product or service ideas in capturing opportunities within the healthcare IT ecosystem.

This is however not a book on technical implementation or healthcare IT (HIT) standards relating to EMR, EHR, HIE, data mining, or HFE. If you are looking for more technical implementation details, or want to research on HIT standards, you may what to check out additional resources from HIMSS.org, AHIMA.org, and PHDSC.org.

This is one of the best books I've read in the Healthcare space. Written by a well respected executive (Mr. Fasano) in one of the leading Healthcare systems of the US (Kaiser Permanente) "Transforming Health Care" is a must read by anyone involved in medicine: practitioners, suppliers, legislators.

The cost curve must must be changed. Access and reform are useless if the entire system collapses under its own weight or becomes unaffordable. "Transforming Health Care" is an invaluable guide for using analytics and technology to reduce health care costs. It is centered around several specific themes:

1. The imperative for secure systems that respect and protect the privacy and confidentiality of our health information.
2. The criticality of coordinated systems to drive down costs while improving health.
3. The need to understand the business case for healthcare IT.
4. The transformative power of technology to make health care easier, more convenient, and more personal for everyone who encounters it.

The book "Overtreated" proves the case that 30% or more of health care is unnecessary or wasted. Unfortunately there really hasn't been a solution. "Transforming Health Care" has one: the use of analytics to find out what works and reduce variance. "Transforming Health Care" offers a guide on how technology can reduce costs while improving both patient satisfaction and health - the Triple Aim or reform. A must read for those of us in healthcare and want to be part of effective reform.

Product Details :
Hardcover: 209 pages
Publisher: Wiley; 1 edition (February 18, 2013)
Language: English
ISBN-10: 1118350006
ISBN-13: 978-1118350003
Product Dimensions: 5.9 x 0.9 x 9.8 inches

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