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Bruce Stanley Massachusetts Advanced Manufacturing Summit April 29, 2014 The Stanley East Consulting Group.

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Presentation on theme: "Bruce Stanley Massachusetts Advanced Manufacturing Summit April 29, 2014 The Stanley East Consulting Group."— Presentation transcript:

1 Bruce Stanley Massachusetts Advanced Manufacturing Summit April 29, 2014 The Stanley East Consulting Group

2  Healthcare Informatics defined as: “The intersection of science, healthcare, commercial operations and technology”

3  When you hear these what do you think of? ◦ Order fill rate ◦ Line fill rate ◦ Complete order ◦ Perfect order ◦ OSD ◦ Open orders ◦ Back order rate ◦ Inventory turnover

4  What do you think of these? ◦ ICD codes ◦ NIH and CDC trending data ◦ Bioequivalence data ◦ GFT Flu trend data ◦ ACA payment schedule ◦ Clinical trial data ◦ Hospital financial data ◦ Demographic data ◦ Re-admission data

5  Are these the new Supply Chain Metrics?  Predictive vs retrospective view  Industry learning to use analytic data upfront  Designing processes and products for current conditions –Electronic Health Records with hand held devices  Requiring fast analysis as it is occurring  Delay causes obsolescence and lost opportunity

6  Informatics broken out into 4 subsets ◦ Clinical ◦ Operational ◦ Financial ◦ Innovation Informatics is more than just more data

7 Clinical New treatments and product design Global disease trends and forecasts Research data Operational Can lead to newer processes Building new product that currently doesn't exist Streamline processes Synchronization

8 Financial Informatics can provide faster analysis of payment’s process and effect of policy changes Informatics provides intense tracking that will be required under ACA implementation Required information for Sunshine Act compliance

9 Innovation Building next generation processes ahead of the curve Eliminating technologies currently in use before they are obsolete Change now happens faster with informatics New products/applications created from informatics Resource for M&A

10  Is informatics just more data by another name? ◦ Informatics provides robust standardization ◦ Informatics can help organizations create the new, obsolete the old and bring competitive advantage to their firms

11  Why the confusion over Informatics? ◦ Misunderstood capability ◦ Data is intertwined and connected ◦ Informatics can be misleading without analysis ◦ High risk for ignoring trends

12  Question becomes…. How can Supply Chain and the business be enhanced with better upfront healthcare informatics?

13  Conclusion ◦ Supply Chain strategies are enhanced by bringing integrated data analysis into the forefront of operation ◦ Future products and companies are not in existence yet because the informatics dots are not yet connected. ◦ As Informatics grows in importance and complexity skills required to understand the information will far exceed today’s skillsets

14  Environment requiring balancing act of  pre-eminence i.e. which strategy rules?  In addition to providing care hospitals are bombarded by informatics  Strategy dictates which focus takes precedent  Leadership dictates informatics used  Informatics focus needs to be understood by manufacturers

15  In order to remain relevant informatics can play a key role in new product development, new markets, new industries or to jettison obsolete ones.  Informatics is now being taught as a business expertise not an IT function.  Business analysts use informatics to not only build business cases but to confirm trends, disease patterns etc.

16  With technology and data comes new informatics…… ◦ No boundaries on capability ◦ No restrictions on possibilities ◦ Expansion of environment ◦ Adds to confusion ◦ Requires knowledge and focus to sort

17  Leaders will chose to focus in one of the 4 areas  Order data becomes predictive health data  Line fill rates becomes e-Health  Collaborative metrics become integrated clinical care (ACO data)  Market data becomes real time personal healthcare data -EMR

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