‘Healthcare’ ‒ when we hear this word, we often tend to think only about doctors, medicines and hospitals. But the scenario has changed and healthcare has become one such industry which is under drastic transformational phase and is attaining new heights with every passing day. The days are gone when healthcare was all about doctors and medicines, now it’s about “value based care.” James C. Paat, President & CEO of InXite Health Systems, is one such person who was able to successfully tap this market potential even before the transformational phase started, and as a result the inception of InXite Health Systems took place.
We might ponder; what is value based care all about. So, if we have a look at InXite Health System’s ‘mission,’ then it’s sufficient to make one understand the term.
InXite’s Mission: To connect and collaborate with all stakeholders in the U.S. healthcare system, providing the Technology, Services and Expertise needed to fully operationalize and optimize patient-centered coordinated care.
James’s Entrepreneurial Journey in a Nutshell
From the childhood days James grew up in and around healthcare as his father was a physician running his own private practice and his mother was a nurse. Most of his siblings and their spouses are also doctors and nurses.
James completed his graduation from St. John’s High School in Toledo, Ohio. He always had a distinctive vision, so decided to take a different course than medicine and received his business degree from “The Ohio State University.” After graduating, he soon landed with his first job with a small fast growing entrepreneurial company called CheckFree that was ultimately acquired by FiServe. CheckFree was a pioneer in the electronic bill payment industry and James had the opportunity to observe how the company grew, overcame significant challenges from much larger competing organizations, and prospered.
James was recruited to work for the leading Electronic Data Interchange (EDI) Company and got the opportunity to work with numerous global companies. At the same time he gained some insightful knowledge by helping them develop and implement strategies for more effectively and cost efficiently exchanging business documents such as purchase orders and invoices with all of their suppliers and customers in electronic manner rather than traditional paper, mail and fax.
James is a serial entrepreneur and founded multiple successful data management and sharing companies which have been acquired. James got an opportunity to get involved early with an effort by Department of Justice and Department of Homeland Security to improve interoperability and data sharing capabilities called the National Information Exchange Model (NIEM), where he developed solutions for federal, state and local agencies to share information for Public Safety and Homeland Security purposes. In 2013 he started InXite Health Systems with a mission to improve healthcare and the transition to value-based care delivery and payments.
Offering Better Healthcare Coordination
James’ goal at InXite Health Systems is to leverage technologies, techniques, and approaches that have been proven in the financial services, supply-chain management and national security industries that he had previously served, and apply it to help solve the similar challenges prevalent in current healthcare system. Globally and across the US, there is a need to improve patient outcomes and lower healthcare costs through proactive and preventive management of high risk, high cost patients. The term commonly known is Value-based Care. Value-based Care is fundamentally changing the care delivery and payment models for the healthcare industry as a whole and incentivizes healthcare providers to focus less on the volume of services provided to patients and more on the ability to improve patient outcomes and avoid hospitalization costs. In order to achieve this, providers now have to improve their ability to share information with other providers and better engage their patients. Their care team work for each patient to improve outcomes and avoid costly hospitalization. InXite provides the most advanced technology platform and business solution for operationalizing and optimizing value-based care for payors, hospitals, physicians, pharmacists and other healthcare providers in the most effective and cost-efficient manner. InXite provides the critical patient-centered system that creates a single shared view of the patient across the patient’s multiple providers and provider systems. This significantly enhances the ability to coordinate care, engage the patient and improve quality measurements and outcomes.
InXite: iPhone and Facebook for Healthcare
Healthcare is going through a significant transformation to value-based care which is now the fundamentally changing how all healthcare constituents from payors, hospitals, physicians, specialists, other healthcare providers and patients. There are “point-solutions” that help address a specific stakeholder at a specific time or event. Examples of this includes tele-health solutions, population management reporting applications, personal health tracking applications; or program specific solutions such as chronic care management and medication therapy management. InXite’s focus is to provide the foundational components and system that are critical for each of the “point” solutions and value-based care programs. InXite uses iPhone analogy, It is the “iPhone” that tracks the patient’s journey and connects patients and their providers to communicate more effectively. On the iPhone there are several 3rd party applications (point solutions) that leverage the reach and connectivity of the users. InXite has also been commonly referenced as the “Facebook for Healthcare” where the patient and their identified providers can easily share information that is relevant for improving patient outcomes.
“InXite is blazing the trail in helping payors and providers more effectively and cost efficiently operationalize and optimize value-based care and modernize healthcare. You can expect to see new innovative models and approaches from InXite that makes the patient data more portable and empowering patients to more easily share critical health information. Imagine if patients had the equivalent to their ATM card for healthcare. InXite is leading the way to make the health card a reality. In addition, InXite is leading the development of innovative virtually integrated care management networks which enable providers to leverage shared resources and services to better manage common patients,” asserts James.