How DataPhyx was formed
The healthcare system is a highly complex network comprised of millions of constantly evolving elements, forcing healthcare leaders to constantly re-evaluate their strategy and decisions. They found that often the duty of providing actionable information to leaders falls to small internal decision support or IT departments. These teams are often asked to develop, deploy and manage business intelligence solutions capable of answering a constantly evolving question with limited resources. The questions these teams need to be able to answer require everything from high-level dashboards to patient-specific encounter analytics.
The technologies available capable of helping answer these questions are either expensive Electronic Medical Record systems like EPIC, Cerner, Meditech, etc., requiring capital investment or are point solutions focused on a specific subject area or function like emergency medical encounters, workforce productivity, or revenue cycle. The lack of real time interoperable information creates confusion and ambiguity in the decision-making process. This ultimately leads to poor decisions, wasted resources, labor waste and a decrease in providers ability to take care of their patients. Often this leads healthcare providers to contract with expensive and temporary consulting resources to find answers.
Armed with this discovery, DataPhyx founders assembled a team of highly experienced healthcare leaders to validate their findings and assumptions as follows:
Healthcare providers, administrators, decision support and IT teams, responsible for making critical business and healthcare decisions often do so without all the information they need.
There is no self-service, end to end, interoperable, system available today to capable of managing and supporting the business intelligence requirements for our healthcare industry. The questions driving the future of healthcare are constantly changing but the data elements needed to answer those questions are less variable and more fundamental to industry itself.
Further investigation with DataPhyx advisors yielded numerous reasons why there is no end-to-end healthcare business intelligence software solution and why the technology solutions that do exist have not been adopted and implemented by hospitals and clinical centers. The greatest contributing factors are:
Hospital administrators do not have interdisciplinary data to fully understand the interaction and impact that their decisions have across the functional areas of their business. How what impact will this decision have on my financial operations, workforce staffing, patient safety and healthcare outcomes?
Currently available technologies capable of providing an end-to-end solution are prohibitively expensive and provide little opportunity for customization or client specific changes or additions. Once the healthcare experts validated the findings, the DataPhyx founders expanded the team to include business, technology, and academic experts from all disciplines.
Together, this team of cross industry experts worked collectively to determine requirements and develop a methodology-based, technology system that would support the data lifecycle from collection, data validation and enrichment, to providing solutions that ultimately will reduce costs and mitigate patient risk. As a result of these findings, DataPhyx developed its software MVP system.