We like this idea. The Heritage Provider Network is launching a $3 million prize for better health data and algorithms.
The goal of the Heritage Health Prize is “to develop a predictive algorithm that can identify patients who will be admitted to the hospital within six months, using historical claims data.” It’s modelled after the X-Prize, which spurs space exploration, or the Netflix Prize, which helped them build better movie recommendation algorithms.
One of the big reasons why healthcare in the US is so expensive is because of how many unnecessary procedures are attempted, so an algorithm that would help with that would be useful indeed.
We like this idea: allowing tech and the crowds to find a solution to a real problem, with the incentive of an innovation prize. Kudos.