MARINA DEL REY, Calif., Jan. 26, 2011 /PRNewswire/ -- Dr. Richard Merkin, President and CEO of Heritage Provider Network, has created an innovative challenge to the nation's whiz kids with the $3 million dollar Heritage Health Prize.
In his State of the Union speech last night, President Obama stated, "So let me be the first to say that anything can be improved. If you have ideas about how to improve this law by making care better or more affordable, I am eager to work with you."
Mr. President, we at HPN are doing just that. We believe that a solution to the challenge presented by the Heritage Health Prize will help achieve your goals of making health care both better and more affordable.
The Heritage Health Prize is designed to foster innovative competition through technology by challenging individuals and teams to create an algorithm that would help reduce the $30 billion wasted on preventable and avoidable hospital stays.
"Americans spend nearly 20% of their family budget on healthcare," said Dr. Merkin. "Much of that spending is unnecessary, and provides no medical benefit. Hopefully this prize will begin to change this dynamic by at least making sure that the money we spend on our healthcare needs is necessary and beneficial."
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. HPN has also decided to drop the registration fee, further enabling everyone to be able to participate.
For more about the HPN Health Prize go to: theheritagehealthprize.com
Heritage Provider Network, Inc. (HPN) is on the cutting edge of the accountable care model of health care delivery: coordinated, patient-doctor centric, integrated health care systems that represent the future of health care in the United States. HPN develops programs and services that are responsive to the healthcare needs of today's patient. HPN designs its networks to offer patients a comprehensive range of medical care in convenient locations. It organizes and manages medical groups and independent practice associations, integrating with hospitals and ancillary care providers. This system represents a workable, successful business model that has been duplicated with medical groups, IPAs and medical facilities throughout California. HPN is dedicated to quality, affordable health care and putting patients' wellness first.
SOURCE Heritage Provider Network, Inc.