ST. PAUL, Minn. & SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
3M Health Information Systems, a business of 3M, and Verily Life
Sciences (formerly Google Life Sciences), an Alphabet company, today
announced that they have entered into a strategic agreement to develop
new population health measurement technology for managing clinical and
financial performance. The joint technology platform will be designed to
analyze quality performance data across healthcare delivery systems and
patient populations, and deliver meaningful information that can be used
to promote real and sustainable improvements in healthcare quality and
cost.
“At 3M, we are constantly evaluating how health information technology
can help improve the efficiency, quality and cost of delivering care,”
said JaeLynn Williams, vice president and general manager, 3M Health
Information Systems. “This collaboration reflects our commitment to
continued innovation in health information systems that address
real-world problems facing health care today, while protecting the
privacy and security of health data.”
The joint technology platform will build on 3M’s extensive experience in
health data coding and classification and its industry-leading risk
stratification methodologies, which are used by federal agencies,
hospital associations, and state Medicaid agencies for hospital quality
reporting and as the basis for new outcomes-based payment models. Verily
will apply its deep domain expertise in data analytics and the
development of software tools and algorithms to help make this health
data useful and actionable.
Together, 3M and Verily will work to transform population-level health
data-sets into manageable and prioritized information so that
participating hospitals, health systems, payers, regulators and
strategic partners can evaluate performance, reduce waste and identify
areas that impact efficiency, quality and cost.
“We have the data analytics and software to understand trends and make
predictions across large quantities of data, and we see a clear
opportunity to apply this approach to health data for insights that can
impact care,” stated Tom Stanis, head of software and analytics at
Verily. “Together, with 3M's know-how and deep expertise in parsing and
coding clinical data, we imagine a world where providers have precise
information to guide focused improvement, and can consistently access
objective, actionable feedback to make informed decisions.”
The 3M and Verily platform will be designed to include quality measures
that assess complications, readmissions and mortality, and cost measures
like length of stay and specific service line costs. It will evaluate
multiple performance measures across departments, procedures and
practitioners, including downstream providers such as specialists, home
health and transitional care facilities.
About Verily Life Sciences
Verily is a life sciences research and engineering organization focused
on improving healthcare outcomes by applying the latest scientific and
technological advances to significant problems in health and biology. By
combining unparalleled capabilities in data organization and analytics
services with robust scientific and product engineering expertise,
Verily is targeting the dual objectives of creating tools and
user-friendly platforms that capture a deeper and broader set of health
data, and organizing the data so that it is useful and actionable.
Verily partners with leading life sciences, medical device, and
government organizations to leverage deep domain expertise and resources
that enable exponentially faster development, meaningful advancements,
and deployment at scale.
About 3M
At 3M, we apply science in collaborative ways to improve lives daily.
With $30 billion in sales, our 90,000 employees connect with customers
all around the world. Learn more about 3M’s creative solutions to the
world’s problems at www.3M.com
or on Twitter @3M or @3MNewsroom.
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Source: 3M Health Information Systems