Healthcare is a massive industry in the U.S.; we spend more than $9,000 per person every year, yet we’re no healthier for it. There’s very little innovation except when it’s personal. Tech-savvy individuals who have a family member with a serious disease are responsible for some of the innovation as they see a need that physicians have and they have the ability to fill it using technology. Entrepreneurs have found new ways to diagnose conditions early and find the best treatment option using big data, but, sadly, they didn’t see a need until it affected a family member.
Individuals like Drew Madden, a healthcare IT entrepreneur, are rare. After graduating from the University of Iowa College of Engineering with a B.S.E. in Industrial Engineering, Madden began his career. His career started with a consulting position at Cerner Corporation and EpicCareHealthia Consulting, before serving as the president of Nordic Consulting Partners until 2016. Currently, Madden is a managing partner at Evergreen Healthcare Partners, a firm that provides healthcare IT expertise, with a focus on health records.
Madden’s work, as one of Evergreen’s founders, is to help institute digital changes at hospitals that lack the resources to do the work in-house. Examples of digital changes in healthcare include telemedicine with virtual consultations, electronic information portals and mining data. Drew Madden has talked about Google Brain, machine learning AI that can predict medical events, such as a patient’s length of stay in a hospital, with great accuracy.
Innovation also comes from acquisitions; CVS may purchase Aetna, a health insurance company, and there is a rumor that Amazon could enter the pharmaceutical sales market. Both companies have extensive retail experience, which they could bring to the insurance and pharmaceutical sales sectors by making both more consumer-friendly. Right now, both sectors could stand competition from companies that know consumers want a bargain, no matter what they are buying. You can follow their Twitter page.
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