Source: Knoxville News Sentinel | Shelley Kimel | February 8, 2016
Professional Project Services of Oak Ridge and Knoxville healthcare system Covenant Health have launched a joint venture, VortexT Analytics, using technology developed at Oak Ridge National Laboratory for the national security industry to securely compile and analyze an ever-growing volume of patient data in the healthcare field.
The VortexT platform, based on algorithms developed at ORNL and combined with additional patented technology from Pro2Serve, uses big data analysis to find targeted information in text form, such as patient files. A pilot program analyzing patient claim denials is currently underway at Covenant. Results from that and other planned projects will be used as “proofs of concept” for VortexT applications, which then will be offered to the entire healthcare industry, where analytics are already a multibillion-dollar market and expected to triple in the next five years, Barry Goss, founder and CEO of Pro2Serve, said in a release.
“There is significant potential for VortexT to produce valuable, actionable information for Covenant and the entire healthcare industry,” Tony Spezia, president and CEO of Covenant Health, said in the release. “VortexT shows great potential to provide data that can improve patient outcomes, lower the cost of treatment and match treatment to appropriate reimbursement. It may also reduce time demands on healthcare professionals and address important business, financial, clinical and operational challenges.”
While internal information is maintained and analyzed on a secure standalone system, also included in the software package is the VortexT Healthcare App, which can continuously monitor public information available on the internet and pull targeted healthcare information from public sources worldwide for physicians, nurses and other medical staff.
“VortexT analyzes more data in less time and at less cost and produces more valuable information than other big data analytics technologies,” Goss said.
Covenant was in the process of developing its own strategy to incorporate advanced analytics into clinical and business operations when the healthcare system, which includes 10 hospitals and numerous outpatient facilities, began discussions with VortexT, Spezia said.
“It was particularly appealing to our leadership that the technology …. originated at ORNL, was further developed and successfully applied by Pro2Serve and has great potential for healthcare and other industries,” Spezia said. “The resources we need for success, such as experienced personnel in computational sciences, software engineering and healthcare, are available locally.”
Goss will serve as VortexT Analytics’ chairman of the board of directors, which also will include Spezia and Homer Fisher, senior vice president emeritus at University of Tennessee, as members. The new organization will be headquartered at the National Energy Security Center at ORNL.
Pro2Serve also has licenses for applying the technology in other industries, including insurance, financial and legal services applications.