Dr. Richard Merkin To Announce The $80,000 Progress Prize Winners In The $3 Million Heritage Health Prize Competition At The Strata Conference In Santa Clara, California
In the news release, Dr. Richard Merkin to Announce the $80,000 Progress Prize Winners in the $3 Million Heritage Health Prize Competition at the Strata Conference in Santa Clara, California, issued 23-Feb-2012 by Heritage Provider Network, Inc. over PR Newswire, we are advised by the company that there are changes to the first paragraph. It should read: Dr. Richard Merkin, President and CEO of Heritage Provider Network, recently named one of the global 10 most innovative companies in healthcare for 2012 by "Fast Company Magazine," will announce the winners of the $80,000 second progess prize in the $3 million Heritage Health Prize on Thursday, March 1, 2012 at the Strata Conference in Santa Clara, California." The complete, corrected release follows:
Dr. Richard Merkin to Announce the $80,000 Progress Prize Winners in the $3 Million Heritage Health Prize Competition at the Strata Conference in Santa Clara, California
MARINA DEL REY, Calif., Feb. 23, 2012 /PRNewswire/ -- Dr. Richard Merkin, President and CEO of Heritage Provider Network, recently named one of the global 10 most innovative companies in healthcare for 2012 by "Fast Company Magazine," will announce the winners of the $80,000 second progress prize in the $3 million Heritage Health Prize on Thursday, March 1, 2012 at the Strata Conference in Santa Clara, California.
The Heritage Health Prize is the world's largest predictive modeling contest, challenging entrants to create an algorithm that predicts how many days a patient will spend in the hospital. Created, developed and sponsored by Dr. Richard Merkin, the goal is to decrease the number of avoidable hospitalizations, saving the country $32 billion in avoidable hospitalization costs. The prize is larger than the Nobel Prize for Medicine and the Gates Health Prize. ( www.heritagehealthprize.com)
"The Heritage Health Prize has attracted over 11,000 entries from around the globe representing many different sectors of industry," said Dr. Merkin. "What we have observed over the past 12 months is the importance of these competitors from outside the healthcare sector who are bringing new solutions to the forefront and that is very exciting," he continued. "I truly believe these data miners can help solve our country's $2 trillion healthcare crisis in a globally transformative way."
The $80,000 dollar progress prize will be awarded at the 12 month mark in the competition on March 1, 2012, split $50,000 and $30,000 between the top two teams. Other milestone prizes include $100,000 dollars split between the top two teams at the eighteen month mark (split as $60,000 and $40,000). The duration of the contest is two years."If we can create an algorithm that helps society avoid unnecessary costly hospitalizations, we can take those savings and use them for research to find cures for costly diseases," said Dr. Merkin. "Then we can begin to change the world through healthcare delivery."
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