As we have touched upon, in many of our conversations, the United States health care system desperately needs reform to harness costs, improve quality and increase access. All elements of health care, including policymakers, have a role to play in transforming our system. I think everyone can agree in theory that federal policy changes are necessary to help fix this problem…..although there is lots of disagreement about what those changes should ultimately be. Such top-down solutions alone, however, cannot fix the broken system that currently exists. The broken healthcare delivery system also needs transformation from the bottom up…..by entrepreneurs and intrapreneurs - - the type of innovators that we often talk to and introduce to our listeners. So what is one of the transformative things that healthcare innovators are focused on to transform the future? Data.
Specifically, individual data. So much data.
Individual biology, health history, well-being, location, spending habits, sleep habits, eating habits….. According to Fortune Magazine, the amount of data you give off every day from things like lab tests, medical imaging genetic profiles, biopsies, electrocardiograms, to name just a few—is completely overwhelming when you start to think about it. Add medical claims, prescriptions, research, clinical trials….and you end up with 750 quadrillion bytes of data every day—or some 30% of the world’s data production. These massive storehouses of information have always been around. However, until three-to-five years ago, all that data was just sitting there. Now it is being analyzed and interpreted. According to Eric Topol, director of the Scripps Translational Science Institute, “It’s the most radical change happening in health care.”
On this episode we are fortunate to be joined by Dr. Rasu Shrestha, one of the world’s foremost experts that understands this and the additional radical changes and trends that are driving the healthcare future forward.