Today EY announced that it plans to extend its current Health Outcomes Assessment platform by partnering with AI company Sensyne Health and enterprise blockchain company Guardtime. The aim is to link payments to the success of clinical treatments and patient satisfaction in so-called outcomes-based contracting.
By adding AI and blockchain from the two partners EY hopes to scale the platform faster, with “fairer reimbursement” and novel treatments for patients.
“We are delighted to be working to deliver the triple win: with life sciences companies increasing access to medicines, health care providers achieving greater efficiency and effectiveness and, most importantly, more patients getting better health outcomes,” said Dan Mathews, EY EMEIA Life Sciences Leader. “This is possible through the combination of novel technologies and a supporting commercial model that allows industry collaboration.”
Blockchain’s role is to enable transparent data to be shared between pharmaceutical companies and health providers. Or more specifically, to provide an audit trail of how each piece of data is viewed and used.
Although not mentioned in the announcement, a key issue is that every participant has a role to play in the treatment. The hospital or doctor has to provide the appropriate treatment. The drug needs to be effective. But perhaps the biggest issue is the patients who often do not take medicines as prescribed.
Research results relating to adherence to prescriptions vary. For example a 2011 Mayo Clinic study found in chronic illnesses non adherence by patients occurs in 50% of cases. But we’ve seen studies showing even higher figures.
In turn drugs and the prescriptions may need adapting to enable better adherence. For example, by reducing the frequency of doses.
“Payers [insurers], providers and pharma have long aspired to move toward value-based health care; this collaboration will make it possible,” said Mike Gault, Guardtime CEO.
EY and Guardtime already have a successful joint collaboration for marine insurance in the Insurwave project. In that instance they worked with major insurance brokers to provide vessel insurance for more than 1,000 Maersk carriers. The duo are now exploring other types of marine insurance in China.