Verily and 3M’s health data unit are teaming up to create new population health measurement technology. The duo seeks to analyze data across healthcare delivery systems and patient populations in order to improve healthcare quality and lower costs.
Verily will bring its data analytics, software and algorithms capabilities to the table, while 3M Health Information Systems will contribute its experience in health data coding and classification as well as its risk stratification methodologies used in hospital quality reporting and for creating new outcomes-based payment models, according to a statement.
The goal of the partnership is to process population-level health datasets into manageable and prioritized information so hospitals, health systems, payers and regulators can gauge their performance, cut down on waste and improve efficiency and quality of care, they said in the statement. The duo will build into its platform quality measures that evaluate complications, readmissions and mortality as well as cost measures, such as length of stay.
“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, in the statement. “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.”
The companies announced the tie-up Tuesday, the same day IBM Watson and Siemens Healthineers announced their collaboration on population health management.