MARINA DEL REY, Calif., Dec. 8, 2010 /PRNewswire/ -- Dr. Richard Merkin, President and CEO, Heritage Provider Network was featured on Fox Business News, Bulls and Bears with Liz Clayman and David Asman revealing HPN's new challenging $3 million Health Prize to save $30 billion in hospital health care costs.
"We want in on that," Clayman told her audience on "Bulls and Bears," as she introduced Dr. Merkin.
The HPN Health Prize is designed to foster innovative competition through technology engaging individuals and teams to reduce the $30 billion spent in preventable and avoidable hospital stays in the US using analytics and predictive modeling.
"If we can predict the outcome of illness, then we can work to prevent it," Dr. Merkin told Clayman. "And if we can work to prevent it, we can personalize the health care and make it participatory, the four p's, we can go a long way toward better overall health care for individuals while saving billion of dollars," continued Dr. Merkin.
Earlier in the day, Dr. Merkin announced the details of the competition for the compelling HPN Health Prize in a press conference at the Press Club in Washington, DC. Participants in the Health Prize challenge will be given a data set comprised of the de-identified medical records of 100,000 individuals who are members of HPN. The teams will then need to predict the hospitalization of a set percentage of those members who went to the hospital during the year following the start date, and do so with a defined accuracy rate. The winners will receive the $3 million prize, which is larger than the Nobel Prize for Medicine.
Joined by Dennis Smith, former Director of the Center for Medicaid and State Operations, Dr. Merkin emphasized the need for young, bright whiz kids who fostered and developed creative, innovative internet opportunities to do the same for health care. "Through data mining and predictive modeling we will bring innovative thinking to
|SOURCE Heritage Provider Network, Inc.|
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