Issue link: https://beckershealthcare.uberflip.com/i/1327468
15 Overview On Nov. 17-18, Becker's Healthcare and hc1 hosted a complimentary virtual summit to bring together healthcare leaders and experts to discuss the transition from fee-for- service to value-based care reimbursement models. The event also included insights from public health leaders on how the pandemic, as well as political and civil unrest, are affecting healthcare transformation. 4 takeaways from the two-day event 1. The healthcare sector is shifting its attention to preventive care and health assurance. Historically, the American healthcare system has focused on "sick care" and treating individuals after they became ill. Stephen K. Klasko, MD, president of Thomas Jefferson University and CEO of Jefferson Health in Philadelphia, believes that health assurance is a better approach. "Let's merge technology, population health and precision medicine into consumer-centric, data-driven healthcare services that will bend the cost curve and help people stay well," he said. 2. Medication therapy failure is a costly problem, but precision medicine can help. From a human and an economic perspective, medication therapy failure is expensive, contributing to billions in financial losses and thousands of lives lost, according to Brad Bostic, founder, chairman and CEO of hc1. "Genetic mutations affect how people metabolize medications and nearly half of the 50 most prescribed medications have known genetic implications. There's clearly an opportunity to deliver a more precise approach to prescribing medications for people," said Mr. Bostic. To address this challenge, hc1 is using precision health insight networks. The organization leverages technology to signal high-risk patient/medication scenarios and identify more effective medication therapies for individuals. The result is much healthier patients and significantly lower healthcare costs. 3. Value-based care and precision medicine rely on robust technology and data access. Leading healthcare organizations understand that technologies like artificial intelligence, digital pathology and robotic process automation are critical for value-based care and precision medicine. Interconnection of data is also essential. "Data really is king. You need free-flowing information and teams must understand how to build usable dashboards with that data that make a difference in patient outcomes," said Dave Dexter, CEO of Tempe, Ariz.-based Sonora Quest Laboratories. 4. Analytics are the key to precision testing and prescribing. Delivering precision health to populations at scale requires the right testing, then acting based on the results. To make this happen, Sonora Quest has worked extensively with hc1 to improve the efficiency and productivity of data analytics. "The real game changer will be a groundbreaking pharmacogenomics pilot that we are starting with hc1," said Mr. Dexter. Sonora Quest, Phoenix-based Banner Health and hc1 will conduct pharmacogenomics testing on patients perceived to be at significant risk of taking the wrong medications. To view the full sessions from the Precision Health Virtual Summit on-demand, go to https://view.ceros.com/beckers- healthcare/hc1-precision-health-virtual-summit. To learn more about hc1, go to www.hc1.com. n BECKER'S HEALTHCARE Precision health, value-based care and healthcare's data-driven future: 4 takeaways from the Precision Health Virtual Summit Precision Health Insight Networks (PHINs) Precision Health PHINs Digital Transformation Population Health Precision Health Insight Networks Leveraging technology to identify high-risk patient/ medication scenarios and more effective medication therapies for individuals Healthier patients and significantly lower healthcare costs Preventive Care Health Assurance Sick Care