The West Health Policy Center and Humedica, Inc. today announced a joint collaboration to pursue research opportunities that are centered on cost transparency and cost-effective health care delivery. Efforts will highlight opportunities to reduce health care costs while preserving or improving the quality of patient care.
"We recognize the tremendous value that Humedica's capabilities bring to improving health care in the United States, and we look forward to working with them to identify low-cost innovations that will transform health care delivery," said Don Casey, Chairman of the West Health Policy Center, which was announced in Washington, D.C. on Monday.
Through the collaboration, independent fellows of the West Health Policy Center will have access to Humedica's de-identified data and analytics platform, with the purpose of identifying health care cost drivers that can be impacted through innovation and low-cost technologies. A cornerstone of the Policy Center is a highly competitive fellowship program that supports the Center's goal of saving more than $100B over the next ten years by identifying opportunities for immediate action where regulations and reimbursement have not kept up with advances in low-cost technologies and solutions.
Humedica's novel clinical informatics platform and data provide unparalleled insight into how specific patient populations are treated, which treatments are prescribed, and importantly, the quality, efficacy and cost of this care.
"This collaboration will spotlight numerous opportunities for improvement and will further enable the national dialogue around effective and efficient health care," said Michael Weintraub, President and CEO of Humedica.
ABOUT WEST HEALTH POLICY CENTER
The West Health Policy Center (www.westhealthpolicy.org) is an independently-funded nonprofit, nonpartisan organization, based in Washington, D.C., whose single aim is to lower health care costs. Launched by philanthropic pioneers Gary and Mary West, the Policy Center's sole focus and funding structure make it a valuable voice to policy makers and thought leaders as government tackles the problem of rising health care costs.
Humedica is a next-generation clinical analytics company that provides novel software-as-a-service (SaaS)-based business intelligence solutions to the health care industry. Through cutting-edge analytics, Humedica connects patient information across varied medical settings and time periods to generate a truly longitudinal and comprehensive view of patient care. Humedica provides our partners and customers with the informatics solutions necessary to improve, manage, and succeed in today's dynamic health care market. Humedica is defining knowledge in health care.
*The West Health Investment Fund, also established by Gary and Mary West, has invested in Humedica. The Fund provides risk capital for companies with cutting-edge health care technologies and services that offer the potential to significantly lower health care costs. All investment returns will go to sustain the not for profit mission and philanthropic work to lower health care costs.