Two of the biggest names in Minnesota health care announced plans Tuesday, Jan. 15, to jointly operate a new research lab in Massachusetts.
Called Optum Labs, the venture brings together Minnetonka-based UnitedHealth Group and Mayo Clinic, based in Rochester, Minn.
The new lab will draw on UnitedHealth Group's claims data to better understand what drives high-value care, organizers say.
Financial terms were not disclosed. The venture initially will employ 50 to 60 people in Cambridge, Mass.; it already has opened for business.
"Our strategic alliance ... will leverage what we believe to be the largest combined source of clinical and claims information, providing a more comprehensive picture of patients' diagnoses, progression of diseases, comparative treatments and outcomes," said Dr. John Noseworthy, president and chief executive officer of Mayo Clinic, in a statement.
Other partners could join the research collaborative, officials said. The research effort has goals of finding optimal treatments for various conditions and explaining why patients don't all have the same access to those treatments.
Researchers expect to measure the best treatments for a serious blood cancer called chronic myelogenous leukemia, as well as the relative cost-effectiveness of medical device treatments. They also hope to analyze better ways to diagnose hepatitis C.
In a statement, Minnesota Gov. Mark Dayton predicted the "collaboration will lead to better and more
cost-effective medical decisions, benefitting both patients and payers."
UnitedHealth Group is one of the country's largest health insurers with $5.1 billion in net earnings during 2011 on $101.9 billion in revenue. The new lab is operating out of the company's Optum unit, which is based in Eden Prairie and sells technology-based services to doctors, hospitals and health insurers.
Mayo Clinic operates hospitals and clinics in Arizona, Florida, Iowa, Minnesota and Wisconsin. In 2011, the clinic posted operating income of $610 million on $8.48 billion in revenue.
Most Popular Stories
- Americans Still Pessimistic Despite Economic Growth
- GE Capital and Petters-Related Fund in Legal Battle
- Combating Online Abuse Not Easy for Gamers
- Feds Want Nuclear Waste Train, but Nowhere to Go
- California Conservation Conundrum: Water Use Varies Greatly Across State
- Even With Surly 2014 Electorate, It's 'Still an Incumbent's World'
- Detroit Raced Toward this Week's Bankruptcy Trial
- New Hershey's Logo Revealed
- California Passes First US Statewide Bag Ban
- Obama on Labor Day: Don't Take Rights for Granted