Dr. Lay founded Sumalytics, Inc. in 2004. He is the prime developer of Variance Analytics™ which he created in cooperation with Professor Ron Eden while a professor at the School of Management at the University of Ottawa. (Now the Telfer School of Management: www.telfer.uottawa.ca )
Dr. Lay taught in the Master of Health Administration (MHA) Program at the University of Ottawa from 1973 until 2004, and has been an adjunct professor since that time. For three separate terms he was Director of the MHA Program. Many of his former students are now senior executives in hospitals, Ministries of Health, and other health related organizations across the country and in the USA and other countries.
In 1993 the Ontario Case Cost Project (OCCP) asked Dr. Lay to chair the Ontario Case Weights Working Group, and later to chair the Data Reliability and Validity Committee as well. He continued with these roles until 2000. The OCCP provided significant data to the Ontario Health Services Restructuring Commission in 1997 – 2000.
Because of his experiences with the OCCP, Dr. Lay developed Variance Analytics to provide a revolutionary new layer of functionality to make patient cost accounting more useful to physicians and managers in hospitals.
In 2003 the University submitted patent applications to the USPTO and the Canadian Patent Office. Sumalytics has an exclusive licence to Variance Analytics, and will own the intellectual property by December 2007.
Dr. Lay has specialized in health care sector applications of information systems, statistical analysis, cost accounting, and financial management since 1971, and since 1964 in other public and private organizations.
He has consulted for, or carried out research in, numerous organizations in the health care field. His ideas and research on “Disease Costing” and its application in hospital cost analysis have sparked major developments in Canadian hospital management systems. Most notable among these is his contribution to the MIS Guidelines for Canadian Hospitals in the early 1980s.
In 1980 he developed an input/output patient program cost model for the Ottawa Civic Hospital, which directly influenced important aspects of the MIS Guidelines. He used that model as the basis for manually costing the treatment of 250 bypass graft patients at the Ottawa Heart Institute for its Director-General, Dr. Wilbert Keon, in 1983-87. Dr. Keon used those data for several years in consulting on the development of cardiac surgery programs across Canada and around the world.
A graduate of the Indian Institute of Technology and the University of Waterloo, he is a Professional Engineer (Order of Engineers, Quebec) and serial entrepreneur with significant experience in engineering projects. Created Peeta Consultants Inc. (scheduling, cost control, 3D visualization of engineering projects) in 1992 and President since inception.
Peeta has created several technology products and spun-off its patented, 3D collaborative technology to a spin-off company, 3Vista, in 2004. Guest speaker on 3D collaborative technology at seminars organized by the National Capital Institute of Telecommunications (NCIT), the Ottawa Centre for Research and Innovation (OCRI) and at CeBit Technology Show in Hannover at Canada’s Future Parc Pavilion.
Chandrakant has been a partner in Sumalytics Inc. since July 2004 and collaborating with Dr. Colin Lay in developing the Variance Analytics™ system leading to its commercialization.
