From Health Connect South
by Paul Snyder
Recently, Tiffany Wilson, executive director of the Global Center for Medical Innovation (GCMI), and Sidney Welch, Healthcare Innovation Practice Chair for Polsinelli PC, an Am Law 100 national firm, conversed with host CW Hall on the Health Connect South radio program. During this time, they shared insights into the world of medtech regulation, innovation, and collaboration.
Optimizing health while reducing costs: how the shift to value-based care is changing the needs of physicians and payers alike
Discussing how care innovation is being impacted by tech innovation, Welch replied “There is innovation focused on how we gather data, analyze it, and have it affect protocols.” She commented, “Physicians and payers are working together to understand what the correct measures are. But it has been a bit like throwing the spaghetti against the wall. It’s been messy. What we have found lately is that it comes down to changing the language for everyone from volume to value.”
Adding a heavy layer of tech to the field has also complicated processes. Technology has provided multiple platforms for an ease in data sharing, but now privacy is an issue.
“There is a struggle between privacy and intellectual property rights within health care,” Welch said. “Currently the regulatory environment involving patient rights does not match the technological advances of data share, and it is frustrating. With data sharing, change done right has great patient benefit. Responsible data sharing helps eliminate medication errors, reduce readmissions, and ensure that care is properly executed. All of these factors will, in turn, help cut costs while improving overall care.”
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