If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Continuing our coverage of entrepreneurship far away from Silicon Valley, we bring you a conversation with Mike Carter, CEO of eGroup in Charleston, South Carolina. Typically, these environments have bred bootstrapped companies, and bootstrapping using services continues to be a popular method. Of late, incubators and
Sramana Mitra: What is the volume of data related to healthcare plans that flows through a payer’s systems? Mike Byers: Large payers process claims transactions of tens of terabytes of data per year. Analytics would be higher. By 2015, the waves of Medicare claims data will explode from 370 terabytes to 700 terabytes.
Sramana Mitra: Let’s say one of your clients – IBM, for example – wants to use this big data infrastructure to understand how to respond to their responsibilities [as laid out] in the Affordable Care Act. Is that correct? Mike Byers: No. I was referring to insurance companies. But let’s look how an employer will
Sramana Mitra: Talk about the data itself. What is in the data, and what are you doing to handle these big data problems? Mike Byers: The data we manage and collect plays into an entirely new component of the business a fairly substantial opportunity that is in front of us today. The data we refer
Sramana Mitra: In terms of actionable conclusions that came out of this normalizing and big data processing work, what were the highlights of what you were able to do with that data? Mike Byers: The activity itself shaved off a considerable amount of time that the client was spending just preparing for their open enrollment.
Mike Byers is the chief executive officer of HighRoads, a company that helps its clients with benefits plan management and healthcare compliance through its cloud-based SaaS offering. Mike has studied at the University of Massachusetts at Amherst’s Isenberg School of Management and has more than 30 years of experience in finance and software. In this
Sramana Mitra: The situation that scares me a bit is a “blind leading the blind” situation. Dan Hickey: That view doesn’t give the consumer enough credit. In survey after survey, consumers say that their doctors are their most trusted people in their health ecosystem. Expert advice would be next to that, and peers come in
Sramana Mitra: I am talking about doctors helping in that engagement process. I think doctors have the issue of prescribing something to the patient, but the patient doesn’t do what has been prescribed. Then the doctor can’t help. Dan Hickey: That is right. I heard an example the other day where a doctor said, “When