Succeeding in the Age of Analytics in Healthcare with Jason Montrie, President at Pareto Intelligence was automatically transcribed by Sonix with the latest audio-to-text algorithms. This transcript may contain errors. Sonix is the best audio automated transcription service in 2020. Our automated transcription algorithms works with many of the popular audio file formats.
Intro:
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Saul Marquez:
Welcome back to the Outcomes Rocket. Saul Marquez here. Thanks so much for tuning in today. I have the privilege of hosting Jason Montrie. He’s the president of Pareto Intelligence. As the president of Pareto Intelligence. He provides strategic leadership and oversight in pursuit of credos mission to build innovative practical analytics and technology solutions that solve their client’s most complex business problems with the ever increasing volume and velocity of healthcare data. Jason’s leadership keeps Pareto ahead of client needs, always anticipating what’s next and helping health care organizations harmonized desperate data and translated into actionable insights to improve value based outcomes. Jason brings an exceptionally valuable perspective to Pareto clients from his experience as a co-founder and CEO and president of Land of Lincoln Health. There he led strategic initiatives, innovative product development and operations for Illinois’ First new insurance company in twenty five years. Under his leadership, he enrolled over seventy five thousand members and became the state’s fastest growing insurance company in 2015 with 300 million in revenue. I’m excited to touch on what Jason and his team are doing to improve the way that we approach value based care value based outcomes in today’s tough environment. Jason, such pleasure to have you here with us. Thanks for joining us.
Jason Montrie:
Thanks, Saul. It’s great to be here today. Look forward to a great discussion.
Saul Marquez:
Likewise. And so before we we dive into the work that you guys do at Pareto Intel really wanted to just spend a little bit of time getting to know you better and what inspires your work in health care.
Jason Montrie:
Thanks, Saul, you know, I’d find it easy to be inspired working in health care. Health care is personal, touches everybody. We all interact with the system in one way or the other. And we probably all been frustrated by the system one way or the other. I have a personal mission statement, which is that we have a responsibility to leave things better than we found them. I try to take that to my homes were society kind of interactions. And certainly that’s largely on how I approached my career in health care. And my entire career has been spent in health care and constantly looking for ways that we can improve the system and that we can find ways to continue to bring high quality, affordable health care to people. So, you know, from being a part of a not for profit health insurance plan in my career to my work here at Pareto, that’s usually the guiding force for me is what is it that we can do to help improve this?
Saul Marquez:
I think it’s great. And you know, your mantra of always leave it better than when you are here is something that I live by. And, you know, I talk to my my three year old about it and I just talk to my employees about it, too. And I really believe that’s a great way to approach anything in life, to leave it better than when you got there. And so how are you and your business adding value to the health care ecosystem, Jason, through your work at Pareto?
Jason Montrie:
In Pareto we aim to solve the most complex challenges in the business of health care. A lot of our work is centered around helping health plans and health care providers organize and interpret their data as volume and the velocity and the variety of data. And our business has exploded. The challenge is the systems that we use haven’t caught up with that. And when the systems can’t keep up with the data, it’s a huge problem. For example, a health plan might have a seven year old member and that member may have diabetes. But she also suffered from mental health issues and might live in an area that has a food desert and doesn’t have reliable transportation to be able to get to those a meal to the doctor.
There’s actually a lot of resources that this member may have at her disposal through her health plan and the community. But many times the plans and the providers can’t organize the disparate pieces of information together to be able to help an individual. And with Burrito’s help, that memory can be connected to the different resources that are available. Have the clinical conditions cared for, connected to transportation needs and the food options that are needed all in one kind of holistic way. And so it’s really about helping organize and normalize and enrich data so that people can be better cared for.
Great. And it’s all about that aggregation in an environment where a lot of things aren’t aggregated Right. everything, like you said, happens in a silo. So talk. Talk to us about what you guys are doing that’s different or better than than what’s available today.
Well, you know, our ability to ingest, normalize, enrich and compute our health care data at scale is a market leading capability and patented. And we have a lot of technical solutions that are on the front end where the industry is. But what really makes us different is that we couple that with the deep and rich understanding of the problems that we’re looking to solve. We’re not just a technology company, we’re problem solvers, which is really what is required in this nuanced, complex world of health care. Nothing in health care is simple, and I think many companies end up learning that the hard way. We really see a lot of organizations throw a lot of smart people and really cool tech at health care. But without the resident knowledge of the problem that needs to be solved, you can fall short of the potential as you keep throwing maybe the shiny new object at the solution. So we tend to look then work backwards. The problem they were looking to solve and take a fairly agnostic approach on how do we get there? And I think combining modern technology, proprietary analytics, but also that resident health care knowledge really allows us to be different.
You know, that’s great. And that insider knowledge is key. And then also having that foresight and ability to to change what normal paradigms insiders have Right. that they keep us in the Right.. And so talk to us about some specifics. Jason, I love to hear more about how Parado has helped your clients improve outcomes or make business better.
Sure. You know, one of the things that we’ve identified is that we have to have kind of a hyper focus on a few metrics. As an organization, you can kind of be overwhelmed by the kind of the art possible, specifically with analytics and technology. There’s just so much you could do. But how do we focus on things that will actually have a measurable outcome? You know, Sol, you talk a little bit before the call on the podcast, on the parade of principle. How do you actually find that idol for you and focus there? So a couple of things for us that we know will bring value. It’s a very high return on investment and very low. We call time to value. So we know that if we can generate a return for our customers, who again are typically the providers of the health plans of five to one or up to 20 to one, the work that we do that is going to allow for the provider and the payer to be able to better care for their member and reinvest those savings back. And then one of the things that’s been able to differentiate us from our competitors is, is a focus on this time to value and this this translation of data into insights.
So we’ve been able to build a platform that can take data and translate that into insights and days where our competitors take weeks or months to do that. And so that allows for us to be able to more rapidly work with our customers and help solve things as members are working their way through the system. And our industry is changing from a batch to a streaming model. Our ability to have a platform that can help translate that data and make real time decisions is something that health care really needs. That’s something our customers really. So the more that we can help the plans, organize and rich and make sense of their data better, that they can then help their customers. And so that manifests itself with a higher return on investment. Again, we started five to one. Many of our solutions get to this morning or one it greater in a very low time to value. So again, we’re grabbing seven and a half days right now of all of our data. An inside translation, which is, you know, months ahead of our competitors.
So how do you account for that speed? I mean, it’s it’s a it’s a huge difference. What would you say enables you guys to do that?
Well, we really made a bet as an organization four or five years ago on our platform that we needed to be able to meet our customers where they’re at with their data. And what we saw and continue to hear in the marketplace was a technology organization could only consume health care data in a specified format. Otherwise, the entire machinery would break. And we knew that limited the ability for customers to use new technologies and also limited types of applications that we built. And so what we wanted to build was an ingestion framework or you lost your data. Let’s let us make sense of that capability. And it really is proven all the more valuable decisions that we made, as we predicted, that the world would move from sending batch files to streaming. And you always find health care is kind of a laggard when it comes to a lot of the technology that we see in our other parts were alive. So we really wanted to predict where we thought the market was going and kind of overbuild a platform that had capabilities that allow for us to be much more flexible than we saw in the marketplace. So really, it starts at the beginning. The data fidelity and the hygiene of the data, making sure that we can get the data into our system in a way that we can then organize it and then present back to our customers. That affords us a lot more speed than what we see tomorrow.
Thanks for highlighting that. And, you know, I’m curious, so out of all the things that you could be applying your strength on. Give me an example. I’d love to hear, like, specific. Hey, you know, this was the case before and afterwards. This was the case.
Sure. So, you know, if you think about healthcare systems, many systems and healthcare were largely designed to do a few things. They were designed to enroll people or kind of account for the eligibility of someone and then pay a claim, very transactional systems that were purpose built to do a few things. Well, as the types of information that have expanded on on a member greatly over the last 10 to 15 years, the systems haven’t caught up. So a good example could be your your iPhone Right. or your Fitbit. All of this information now that is relevant to your health, which would be relevant to your health care provider or your insurance company. For them to be able to better care for you and point you to the programs that they have, the companies don’t have any way to actually get that information in a way that they can make sense of historically. Even though there was a tremendous amount of information, not just claims, but clinical information, social determinants of health information, mental health information, wearables and all of these all of these different pieces. It was no way to centralize and organize that. So what our platform can do is really widen the aperture of what a provider HealthPlan knows about a member and then their ability to care for that member expands greatly. So, again, instead of just knowing you went to the doctor on that claim should be paid under the parameters of whatever the provider set up. We now know go back to the example I gave earlier, that an individual who lives in a community that doesn’t have a high degree of reliable transportation, doesn’t have food resources, have mental health issues that can be presented to the provider or the insurance company through our platform in a way that they can holistically look at that member and then point the resources available, as opposed to saying we only know when this member came in for a claim.
Cool. You’re able to really go above and beyond in the normal data and information that these providers and payers can get to help them make smart decisions about where to put dollars and resources behind.
Yeah. Wouldn’t it be great if one day we went to the doctor and didn’t have to fill out that same form every time and reintroduce ourselves for the doctor and do all of that? Now, imagine that frustration. And that’s the simple kind of transactional our own information. Think of all the other stuff that we should know about a member because it’s there. How do we harness all of that and then channel that? No way that we can make better care. And that’s really our goal.
And it sounds awesome. And in my eyes, definitely leaving it better than when you started, my friend. So, Sunny. Yeah. You guys, you know what? It sounds like you are. And so as you reflect on the the progress thus far. Jason, what would you say is one of the biggest setbacks you’ve experienced and what was a key learning that’s made you guys better as a result?
No, we were born from a consulting company. And so, you know, solving the problems of our customers is just hardwired in our DNA. But one of the things that we’ve learned is that what makes a great consulting project is it’s nuance, its uniqueness, it’s bespoke ness. And that is a wonderful problem to solve your customers. But as a technology and product company, one of the things that we have to be able to do is build durable, scalable technology solutions which require us to really know the beginning and end of our capabilities and at times be able to say no, which is never easy, probably in any industry as any organization through as a young company. And so I think looking back, we certainly had a few projects that in hindsight, if we had a better understanding of where our good abilities started and stopped in our understanding the problem that our customers were asking us to solve. We probably could have crafted an alternative approach or maybe discussed a different model than what we did instead of just muscling through. And we’re really good at muscling through. I think you’ll find a lot of successful technology organizations are great at muscling through. But I think for us in hindsight, really understanding in our technological capabilities, marrying that with the product needs to be solved and having maybe a little bit more frank conversation with our customers around our approach. I think what we found is that customers are typically more flexible than you might give them credit for when you’re trying to solve a problem. So we’re big believers in working with customers to launch new products and solve their challenges. But I think having a little bit more discipline on the front end and knowing where Gulfstar would serve us well and continue, here are things that we’re working on.
Well, Jason, for sure. And, you know, having that discipline is critical. It’s so easy to lose that discipline and focus and go for that shiny penny. It’s just so, so easy to do. But as important as it is to know what to do, it’s also important to know what not to do. And sounds like you guys are doing that in the realm of exciting. What would you say is is inspiring you guys the most today?
I think about the future of health care and certainly what our role can be in that. I think we can play a really meaningful one in making the system more efficient and effective. I think we’re just in the early innings on the ability to harness the amount of data that is out there. And I think we’re we’re going to see that continuing to explode. And again, health care so are behind. So, you know, we believe that the health care organizations that are going to be successful will be the ones that can harness the power of the data assets they have and do so in real time to be able to better care for their members. You know, the transition from fee for service to more of a value based payment is much needed and it’s going to transform our industry that can only be done with modern technology, data science and that deep understanding of problem to solve.
So we think we’re really uniquely positioned to do this. We have those capabilities. I think we understand where the market’s headed and we’re excited to play a role in that. I think we’re we’re on. We’re in the middle of a fundamental change in our industry. And I think it’s one that has to happen for health care to continue to plummet.
I think it’s it’s a great call out. We are in a in a fundamental shifting point in health care. And we’ve got to be thinking about that transition point. Working with companies like Perrino, Intel, you could find them at Parado in. Well, that come to help solve your problems. We’ll help you solve your problems and apply those analytics and also insights from various different sources is going to be the way that we do it smarter. And so I really appreciate the shares you’ve provided with us today. Jason, I know it’s just the tip of the iceberg of what you guys can do. So I’d love for you to just leave us with the closing thought and then the best place where the listeners can reach out to you or connect to learn more.
Her song we talked about, I think this this transformation healthcare is going through a most would argue it’s probably long overdue. You know, I think this transition from paper service to value based care is critical for health care to be able to really continue. And I think you’re going to continue to see more horizontal and vertical integrations that force healthcare to re-evaluate itself. I think new actors are gonna come into the market. The industrial corners are whole rooms of it, and all that’s going to be needed to drive forward. Health care is incredibly personal. All of us and the system that we have here is very complex web of payers and providers and technology companies, facilities, the government, pharmacy, many others that kind of stitch that together. It’s really hard. So our fundamental belief is the system has to be improved by effectively harnessing the power of data and translating that into something that our customers and people can take action on. And we’re excited to help try to play a role in that. We think the best work of ours is yet to come. My information is certainly love to hear from from folks. Jay Montreat, Jay M0, NTR. I eat at Parado Intel dot com. We have LinkedIn page, a Facebook page, Twitter and would certainly love more followers on those properties, but really, really enjoy the time here today. All I look forward to any follow up.
Jason, thanks so much. Ann, and I appreciate you and all the work you and your team are doing and the insights you shared with all of us. So thanks again and looking forward to staying in touch. Thanks.
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