Baystate Health VP and CIO, Joel Vengco, plays a major role at TechSpring, Baystate's innovation hub. Vengco hopes that vendors will utilize the TechSpring's data assets and clinical expertise to deliver solutions to the healthcare industry's problems. Baystate does not take revenue share or stake in the companies, but rather benefits from a first-mover advantage on creative developments.
Vengco warns innovators that there are plenty of analytical tools in the market, but currently the biggest problem in the healthcare industry is accessing the data. He also stated, "Hospitals have the potential to spend money on things that are not going to necessarily work, like population health systems, that don't have this data." Companies should be competing for market dominance through features, workflows and usability.
Vengco claims that one of their main objectives is to figure out a way to allow EHRs to interoperate. He also asserts that one of the major challenges for vendors is that they are trying to use EHRs for a different purpose than their original design dictates. EHRs were originally intended as billing documentation systems, but now they are being used for clinical data.
Summary by MedicalGroups.com
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