Forbes – 40 years after founding Epic, billionaire CEO Judy R. Faulkner shared a rare look inside the clinical database and healthcare software company at the summit.

Forty years after founding Epic, billionaire CEO Judy R. Faulkner shared a rare look inside the clinical database and healthcare software company. What started in the basement of an apartment building with $70,000 in startup money today is a $2.9 billion (sales) private company that employs 10,000. Considering the future of electronic health data, she predicts a Cambridge Analytica-esque challenge: the risk that family members’ data will be compromised by a members’ data authorization.

Entering the sphere of electronic record-keeping marked one of Faulkner’s most innovative moves in her long career, next to writing Epic’s original database software. A computer scientist trained at the University of Wisconsin-Madison, she recounted a story of a child’s death in an emergency room, attributable to the absence of prior medical records. At the time Faulkner wondered when data would be standardized. When she was cautioned not to hold her breath, she decided, “We’re going to do it anyway.”

Dr. John Halamka named president of Mayo Clinic Platform.

ROCHESTER, Minn. — John Halamka, M.D., has been named president of Mayo Clinic Platform. The platform will elevate Mayo Clinic to a global leadership position within digital health care. He will join Mayo Clinic Jan. 1, 2020.

Most recently, Dr. Halamka was executive director of the Health Technology Exploration Center for Beth Israel Lahey Health in Massachusetts. Previously, he was chief information officer at Beth Israel Deaconess Medical Center for more than 20 years. He also was the International Healthcare Innovation Professor at Harvard Medical School. He remains chairman of New England Healthcare Exchange Network Inc. and is a practicing emergency medicine physician.

“Dr. Halamka has a proven track record of success in innovation and value creation,” says Gianrico Farrugia, M.D., president and CEO, Mayo Clinic. “His extensive experience and network will help power the Mayo Clinic Platform forward to benefit our patients and to support Mayo Clinic’s path for the future.”

As the leader for innovation at Beth Israel Lahey Health, Dr. Halamka oversaw digital health relationships with industry, academia and government worldwide. As a Harvard Medical School professor, he served the George W. Bush administration, the Obama administration and governments around the world planning their health care information (IT) strategies. In his role at Beth Israel Deaconess Medical Center, Dr. Halamka was responsible for all clinical, financial, administrative and academic IT.

Dr. Halamka has written a dozen books about technology-related issues, hundreds of articles and thousands of posts on the Geekdoctor blog.

“It’s an exciting time to join Mayo Clinic and work with new colleagues to enhance what we can offer to patients worldwide,” Dr. Halamka says. “The Mayo Clinic Platform provides us the opportunity to shape health care in a new and dynamic way.”

Dr. Halamka completed his undergraduate studies at Stanford University, where he received a degree in medical microbiology and a degree in public policy with a focus on technology issues. He received his medical degree at the University of California, San Francisco, and simultaneously pursued graduate work in bioengineering at the University of California, Berkeley, focusing on technology issues in medicine. He completed his residency at Harbor — UCLA Medical Center in the Department of Emergency Medicine.

He runs Unity Farm in Sherborn, Massachusetts, and is the caretaker for 250 animals, 30 acres of agricultural production, and a cidery and winery.

In addition, Clark Otley, M.D., has been named chief medical officer, Mayo Clinic Platform. Dr. Otley joined Mayo Clinic in 1999. He is a professor of dermatology, Mayo Clinic College of Medicine and Science; a physician in the division of dermatologic surgery; medical director for the Department of Business Development; and president of Mayo Foundation for Medical Education and Research.

Value-based health: Better outcomes, expanded access, lower costs

Value-based health: A new healthcare paradigm

The concept of value-based care—a movement away from a fee-for-service healthcare model to one based on more effective patient care—has been around for decades. Value-based care, in fact, was codified in 2010 by the passage of the United States Patient Protection and Affordable Care Act (PPACA). The law mandated extensive reforms about the quality of care and the manner in which it was to be delivered to millions of Medicare and Medicaid patients. As a result, a number of programs were established to facilitate value-based care, including the formation of Accountable Care Organizations (ACOs).

ACOs consist of a group of health care providers who come together to provide coordinated high-quality care to populations of patients. The goal is to provide patients and populations—especially the chronically ill— with the right care at the right time. The Affordable Care Act also started a fundamental change in the conversations about provider reimbursement—with a primary focus on paying for better health outcomes and lowering costs—while also expanding access to healthcare.

Better outcomes, reduced costs

Today, however, both providers and payers have realized that the basic cornerstones of value-based care—better outcomes and reduced costs within their traditional roles—are insufficient to create a truly holistic healthcare ecosystem that extends beyond the clinical environment and into the daily lives of patients/consumers. Consequently, a new healthcare paradigm—“value-based health”—has emerged to provide care and maintain wellness in almost every aspect of a patient’s life.

Numerous value-based programs, pioneered by providers, payers, life sciences organizations, and others in the healthcare ecosystem, have a shared mission of delivering care with better quality, a better patient experience, and a significant reduction in unnecessary costs. Various studies consistently show that “healthcare” has a smaller impact on an individual’s health than social factors, including health behaviors, socioeconomic elements, and physical environment.

Moreover, technological progress in the last decade, such as predictive analytics, digital health, and automation, has profoundly reinvented how health (and its value) is measured, managed, and delivered. According to the International Data Corporation (IDC) healthcare organizations are on a mission to digitally transform to create a value-based healthcare system. “The digital transformation journey begins with a common definition of the mission, strategic priorities, and programs so that individual projects or use cases support the healthcare organization’s overall goals and objectives,” stated an IDC executive.

To better understand how organizations have undertaken this digital transformation in a relentless search for value, as well as provide a roadmap for others to follow, the IBM Institute for Business Value (IBV) and IBM Watson Health conducted extensive research to determine what is needed to transition traditional value-based care into the more inclusive value-based health—a system that integrates technology to accelerate progress and helps move healthcare beyond hospitals, doctors offices, and other clinical environments.

Today, as healthcare systems around the world consider how to maintain access, quality, and efficiency in the face of ever-increasing demand—along with a diminishing physician workforce— providers and payers are more intently focused on understanding how to optimize their operations to deliver value. They have discovered that value measurement must be centered not only on individual patients, but groups or populations of patients as well.