Twenty-five years ago, as a young academic internist, I came across a piece of technology that changed the trajectory of my life! The first handheld monitor that measures anticoagulation (blood thinner) like diabetics measure blood sugar. With 2 monitors, a nurse and I managed a few hundred patients who no longer had to go to the lab for testing, or play phone tag with their doctors for results. It was a huge success, enhancing clinical outcomes, patient and provider satisfaction, and decreasing cost. I witnessed firsthand the impact of technology on patient care, influencing me to dedicate my career to these types of projects.
Over the next 20 years, my journey involved developing a methodology to scale technology solutions within complex healthcare systems despite challenges such as regulation, system complexity, and reimbursement issues. I called it Value-Based Medical Technology Solution (VBMTS) Design.
A year ago, I started NewHealthcare Platforms to partner with best-in-class medical technology companies to create value-based solutions that change lives at scale! My first partner is iRhythm which monitoring technology I selected as CMO, Health Plan to expand our ability to diagnose arrhythmia.
When I first started doing this work, I had to rely on clinical studies to evaluate technology. I was always uneasy because clinical studies have strictly controlled environments that are different from real world care. Today with advances in EHRs and advanced analytics, massive data sets of healthcare delivery and outcomes, called Real World Evidence (RWE), are available to evaluate medical technology!
A recent RWE study of the entire Medicare data set validated that iRhythm's technology stands as best-in-class in diagnosing arrhythmias, a condition that affects millions and leads to severe complications like stroke and heart failure. The study confirmed not just the clinical benefits but also the cost savings associated with using advanced monitoring technologies with iRhythm’s Zio monitor being the most effective, significantly outperformed traditional monitoring methods in diagnosing arrhythmias among Medicare beneficiaries without prior arrhythmia diagnoses. It achieved the highest odds of diagnosis with the lowest odds of retesting, and the lowest healthcare expenditures.
I couldn’t be happier with my career choice or more grateful for the opportunity to partner with companies like iRhythm!
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Dr. Sam Basta is a pioneer of Value-Based Care Platforms with two decades experience leading award-winning care delivery transformation at payer and provider organizations. His company, NewHealthcare Platforms, provides consulting services to the Medical Device industry specializing in value-based solution design and go-to-market execution. His thought leadership articles and weekly newsletter are widely followed (25,000+) gaining LinkedIn Top Voice recognition. #healthcareonlinkedin
Preventionist Direct Primary Care @ digitalnomadhealth.com
2wHey, ChatGPT, tell me about vertical integration. "A great way to deliver more value to patients." So what about this paper on the impact of vertical integration? It shows that it might negatively impact the quality of care.