Studies have concluded that in 2006 well over $30 billion was spent on unnecessary hospital admissions. That is more than 71 million people being admitted. Is there a better way? Can you identify earlier those most at risk and ensure they get the treatment they need?
The HPN is searching for a breakthrough algorithm that uses available patient data to predict and prevent unnecessary hospitalizations. This algorithm is the key to the 3 million dollar grand prize. HPN is keen on fixing America’s health care system and are positive a contest is the best course of action.
The winning team will create an algorithm that predicts how many days a patient will spend in a hospital in the next year. Once known, health care providers can develop new care plans and strategies to reach patients before emergencies occur, thereby reducing the number of unnecessary hospitalizations.
The Competition runs for two years and offers a US $3 million Grand Prize, as well as six Milestone Prizes totaling $230,000, which are awarded in varying amounts at three designated intervals during the Competition. As with any contest make sure to read the fine print! If you or anyone you know has an invention idea, please contact us at New Product Consulting.