This transcript is automatically generated
Q2 athena health it is a software company.
It's in the digital medical records business and we joined now by Chief Executive Officer whose name is Jonathan bush.
Some relation to the bush political dynasty I do believe and he joins us from Watertown Massachusetts is that correct side.
Well Barney I think of them as related to -- rather than he related events -- changing health care -- -- just plain -- leading the free world that's and you are a nephew like believed to George W nephew of line and a cousin of the other end and there are and they're gone now.
I don't got thanks for having me on I want to just correct.
I think the problem with health care in terms of information technology is that most of it is in software companies.
And -- health -- a cloud based service so it's a national network where nobody has to buy any software that kind of.
Information requirements change you know we change -- -- you are in the business of political medical -- on.
Electronically right that's what you -- that's right medical records casing communications right bills now well all of those sort of footprint.
We are told that within Obama -- This is that this is gonna save a -- -- money.
Okay I'll give you twenty seconds and you go go ahead give me a colossal if you will I want twenty seconds on how you are gonna save the medical system.
Billions of dollars -- We are not that there's really two things that we do right one is.
We're gonna eliminate all the duplication so today amazingly 48% of what a doctor orders.
Either doesn't happen or happens but gets lost and then later gets repeated so the number of tests that are repeated -- Off the charts actually if there were chart -- -- -- we know that.
So that's the first thing that good online medical records that are connected.
Will -- so Internet based medical records will eliminate duplication.
The second thing they'll do is by connecting the health -- supply chain together.
It'll create that age old American strong suit.
It'll be possible for doctors to look up and down the supply chain and choose the best place.
To send the patient okay they have no idea how much stuff costs and when they do they don't get any benefit from.
OK I think what changed I obamacare I have that there are some negatives ceemea and kinda throws some negatives actually a tank they're on any yet there are indeed.
Fraud for example hacking for example.
Power outages for example less and less visible deal with hacking.
I mean I -- all my medical records.
Into -- chopped outlet for the world to say what he gonna do about it.
No no question though as you aggregate and improve the quality of information it becomes more valuable.
It's a lot easier to -- a stack of charts.
Behind Gladys in the doctor's office than it is the Hackett even though they don't know -- chart Mr.
Bush is a no weight loss and I would -- know on the common market.
That that no I don't think so well most people would agree -- you don't agree that's -- it's absolutely the case.
That information manager -- in health -- become -- years.
This is not.
FaceBook are not that big a deal when somebody -- senior FaceBook page.
-- -- really really big deal.
When somebody else's senior chart that doesn't need to -- a female passed an act as a fiduciary -- isn't always that wacky companies we got -- with as adopt on this program who said look he's just -- extra look.
Now they've got to put all of that stuff right onto the computer today spending that talk and they got to do it accurately is -- -- be the doctor that doesn't.
He's gonna put it into the computer typing away and depicted -- and it takes him a lot of time.
He -- -- it makes me wanna futures here you hear you say it out loud so true.
The number of rules and regs that a doctor have to follow in order to justify payment.
It's such a distraction to the delivery of care and it creates data that nobody cares about that doesn't improve anyone's help.
And when you have to make them do it -- -- he -- check up on an even better it gets worse steel.
At -- health we actually track the number of minutes that doctors spend moving their -- for documenting.
And we've -- it down to about five point nine minutes I wish it were five but we've gotten it weighed down from the national averages which is.
You know actually 818%.
The Rand institute studied and found the doctors have to -- 18% more time documenting -- one of those software based.
-- march than they did without it.
Until we've got that code -- we know it's a problem and withdrew iteration and -- -- sending things to people's houses we can get a better yet honest man.
You get it was a very good 32 commercial and you actually admitted that there were some problems with the overall systems -- some negatives that's good stuff.
Jonathan bush everyone thank you for joining as we appreciate it what a pleasure thank you Stewart come again --