To spark innovation by figuring out gaps and ache factors within the employer-based health-care system, JPMorgan Chase launched Morgan Well being in 2021. Morgan Well being’s chief know-how officer of company duty, Tiffany West Polk, says Morgan Well being is pushed to enhance well being outcomes, affordability, and fairness, with knowledge at its basis. Gaining insights from massive knowledge streams means optimizing analytical platforms and guaranteeing knowledge stays safe, whereas additionally HIPAA and Well being Sources and Providers Administration (HRSA) compliant, she says.
At the moment, Polk says, the U.S. health-care system appears to be “fairly caught” by way of retaining health-care high quality and constructive outcomes in keeping with rising prices.
- “In the event you look throughout the broader U.S. atmosphere particularly, employer sponsored insurance coverage is a large a part of the health-care web for the US, and employers make important monetary funding to offer well being advantages to their staff. It is one of many important issues that individuals take a look at once they’re trying throughout an employer panorama and eager about who they need to work for.”
Investing in new methods to offer well being care
Practically 160 million individuals within the U.S. have employer-sponsored medical health insurance as of 2022, in accordance with health-care coverage analysis non-profit KFF (previously the Kaiser Household Basis). JPMorgan Chase launched Morgan Well being due to its concentrate on bettering employer-sponsored well being care, not least for its 165,000 staff.
Morgan Well being has invested $130 million in capital through the previous 18-plus months in 5 revolutionary health-care firms: superior main care supplier Vera Entire Well being; health-care knowledge analytics specialist Embold Well being; Kindbody, a fertility clinic community and international family-building advantages supplier; LetsGetChecked, which creates home-monitoring medical instruments; and Centivo, which offers well being care plans for self-insured employers.
All of those firms supply new approaches to standard employer-sponsored well being care to ship the next customary of care. Morgan Well being’s collaboration with these enterprises will look at how these change affected person outcomes, health-care fairness, and affordability, and the way to scale their successes.
“Many Individuals in the present day face actual boundaries to receiving high-quality, reasonably priced, and equitable well being care, even with employer-sponsored insurance coverage,” Polk says. This requires breaking the paradigm of delivery-incentivized well being care, she says, which rewards suppliers for delivering companies, however pays inadequate consideration to outcomes.
- “We’ve got a mannequin in the present day the place our health-care suppliers are incentivized primarily based on the variety of sufferers they see or the variety of companies they carry out. What meaning is that they are not incentivized primarily based on enhancements, affected person’s well being, and wellbeing. And so when you may have a mannequin that thinks quantity versus worth, these challenges then serve to compound the disparities that we now have. And that then additionally signifies that those that have employer-sponsored insurance coverage are additionally equally challenged.”
For Morgan Well being, AI and machine studying (ML) might be a key to problem-solving with health-care know-how, Polk says. AI is ubiquitous throughout industries, and is the go-to once we take into consideration innovation, she says, however the hype can imply we overlook in regards to the significance of knowledge accessibility and high quality.
Polk says fixing this knowledge problem makes this an thrilling and transformational time to be a chief know-how officer and a technologist. The following stage of evolution in well being care can’t proceed with out higher knowledge, Polk says, and that is what the information and analytics workforce at Morgan Well being are addressing.
