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Transforming Health Care: The Financial Impact of Technology, Electronic Tools and Data Mining, by Phil Fasano
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The future of healthcare technologies, and what they mean for investors and entrepreneurs
The healthcare technology revolution is just around the corner. And when it arrives, it will change and enrich our lives in ways we can only begin to imagine. Doctors will perform blood pressure readings via video chat and nutritionists will analyze diet based on photos taken with cellphone cameras. Transforming Health Care combines healthcare, technology, and finance in an innovative new way that explains the future of healthcare and its effects on patient care, exploring the emergence of electronic tools that will transform the medical industry.
Explaining how technology, not politics, will lead the future of the healthcare revolution, author and healthcare technology expert Phil Fasano presents real-life examples that show how the next generation of medical breakthroughs will come from the instant exchange of information across the world
- Explores how new technologies will radically change the future of healthcare by making it easier to share information rapidly
- Explains what the future of the high tech medical industry means for investors and entrepreneurs
- Written by a respected healthcare and health technology expert
Offering an unprecedented look at how technology is transforming the healthcare industry, and what it will mean for future investors and entrepreneurs, Transforming Health Care is a remarkable insight into the next generation of health technologies.
- Sales Rank: #318785 in eBooks
- Published on: 2013-03-22
- Released on: 2013-03-22
- Format: Kindle eBook
From the Inside Flap
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.
From the Back Cover
Praise forTransforming Health Care
"Our health care system is in critical condition. Intelligently leveraging information technology is a key part of the remedy. Few are more qualified than Phil Fasano to lay out a prescription for dramatic improvement, and he does it well."
—Chunka Mui, coauthor, Billion-Dollar Lessons and Unleashing the Killer App
"Phil Fasano has made a real impact on health care information flow. Combining long experience in the financial industries with a growing understanding of the system needs of the health care world has been synergistic at multiple levels. Phil's absolute focus on systems availability and multilevel functionality has been a positive addition to the way the health world thinks about and uses systems. This book reflects that learning and that commitment."
—George C. Halvorson, Chairman and Chief Executive Officer, Kaiser Permanente
"Phil Fasano is a practical visionary, who also tells great stories. He leads transformation and technology at Kaiser Permanente, the world's largest private integrated health care system, which means his perspective is deeply grounded in economics, facts, and practical leadership issues while at the same time creatively and courageously predicting how to transform America's biggest industry. If you have any interest in the future of health care, you must read this book."
—Dr. John Sviokla, Strategy Consultant and former Harvard Business School Professor
"In spite of advances in medical technology, America's health care system remains stuck in the 20th century, from both a structural and technological perspective. Transforming Health Care looks forward to what is possible using 21st-century information technology to improve care, increase convenience, and save lives. Just as computers, mobile devices, and the Internet have changed retail, banking, and travel, this well-written and provocative book shows the transformational impact each will have on how health care will be provided in the future."
—Robert Pearl, MD, Executive Director and CEO, The Permanente Medical Group, Kaiser Permanente
"Phil's book is a thoughtful exploration of the extraordinary movement in health information systems. His expert analysis reveals that when these systems work together effectively—utilizing the best data, leading business intelligence, and technology developed in concert with clinicians—organizations can indeed transform health care by providing high-quality care at sustainable costs."
—Marc Probst, Chief Information Officer and Vice President, Intermountain Healthcare
About the Author
Philip Fasano is Executive Vice President and Chief Information Officer at Kaiser Permanente, where he directs the company's 6,000-employee health information technology team. He was named one of Computerworld's 2010 Top 100 Internet Technology Leaders in recognition of his exceptional technology leadership and IT management strategies and, more recently, was named one of CIO magazine's Premier 100 IT Leaders. Since joining Kaiser Permanente in 2007, Fasano has worked on using technology to move the $48 billion not-for-profit health care system toward a vision of total health for more than 9 million members. Fasano also served in IT leadership roles in some of the nation's top finance companies, including JP Morgan and Deutsche Financial Services, a division of Deutsche Bank.
Most helpful customer reviews
4 of 4 people found the following review helpful.
Mr. Fasano's State of the Union for Health IT
By Dermdoc
My generation believes in technology. We believe it will improve physicians' lives, advance patient care, and reduce costs. Like Iron Man, there is no limit to what we can do when we put the suit of information technology (IT) on the body of medicine. Yet, despite the obvious impact of IT on our lives, we've yet to see it revolutionize medicine. We need someone to report on the condition of digital health and to articulate the opportunities and outline the strategy for healthcare transformation. Phil Fasano delivers that digital health State of the Union address in this book.
Fasano is the CIO of Kaiser Permanente (KP), the integrated health care system where I work. He directs our impressive 6,000 member health IT team and has led us to the forefront of health information technology (HIT) in care delivery.
In the book, Fasano briefly covers the history of HIT with an emphasis on electronic health records (EHRs). He recounts KP's experience in rolling out the world's largest private EHR system and shares successes such as our computer care registry that has reduced deaths by heart disease by 73% in our members. He goes on to cover the basics of mobile, virtual, and analytics along the way highlighting bright spots in KP and in other systems on the HIT leaderboard, including The Cleveland Clinic and Intermountain Healthcare.
In the chapter "Investing in Healthcare IT Innovations," Fasano picks his winners in HIT investments including cloud computing (it could cut costs by 30-40%). He sees health information exchanges (HIE) as a business opportunity for entrepreneurs and uses the salient example of Lee Moffitt Cancer Center as a winner in the analytics model -- They are tracking cancer patients' data with the aim of designing targeted treatments. The book is filled with such tantalizing tidbits like this and the Spanish OR where doctors navigate CT scans and MRIs with the wave of a hand.
Fasano's call to action is for governments, payors and the private sector to join forces to drive healthcare IT innovation. He also calls for the formation of a national health information exchange and for the creation of health financial exchanges that can support primary care as the hub of patient care and could act as a payment agent for specialists and hospitals.
This book is meant to educate -- Fasano makes a convincing argument that if the public knew of all of the advantages of HIT, then healthcare leaders would be compelled to implement them more quickly. However, it's written both for the public and for health IT professionals. In doing so, it is sometimes too complex and sometimes too shallow. Other chapters in the book include Virtual Visits, Connected Care Teams, Global Healthcare IT, Real-Time Learning, Predictive Medicine, and Connected Systems.
Overall, he writes in an engaging, approachable manner and supplements his arguments with good references. As in real life, he employs stories of real-time, personalized health care that offer compelling visions of our nearby future.
If you believe technology will fundamentally change the way we deliver and consume health care, then you'll find this book is a comprehensive and inspiring vision of how that will happen.
4 of 4 people found the following review helpful.
Transforming Health Care by Phil Fasano: A visionary roadmap to Healthcare IT
By Edward C Chung
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.
3 of 3 people found the following review helpful.
Read this if you have anything to do with Healthcare
By Amazon Customer
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.
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