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Fred Pennic, Editor-in Chief | HIT Consultant

Fred Pennic is the Founder and Editor-in-Chief of HIT Consultant.

Commons Clinic Launches $100M Center to Disaggregate MSK Care from Hospitals

by Fred Pennic 01/10/2024 Leave a Comment

What You Should Know: - Commons Clinic, a leading value-based physician group transforming musculoskeletal (MSK) care, today announced the launch of the Center for Spine Economics, Outcomes & Research (SEOR). - This landmark initiative marks a $100M commitment over the next decade to revolutionize ambulatory spine care delivery, paving the way for more effective, affordable, and patient-centered treatment. Spine Care in Crisis Millions of Americans suffer from chronic back pain, with many facing unnecessary surgeries and ineffective treatments. The Center for SEOR aims to address this crisis head-on by: - Championing motion preservation: Prioritizing minimally invasive and ultra-minimally invasive procedures, biologic treatments, and non-surgical interventions to protect patient mobility and long-term health. - Deconstructing the "surgery trap": Exposing the prevalence of low-value surgeries, often resulting in "failed back syndrome" and cascading costs. - Advancing evidence-based practices: Leveraging research and data to develop and implement high-value care models, supported by cutting-edge technology and transparent pricing. Center for SEOR’s Five-Pillar Approach The Center for SEOR will operate on five core pillars: 1. Center-of-Excellence for Spinal Restoration: Creating collaborative care teams equipped to deliver optimal results through specialized surgery centers and community clinics. 2. Technology Lab: Fostering innovation in surgical techniques, devices, and applications to improve outcomes and patient experience. 3. Payment Innovation Coalition: Developing new payment models and consumer advocacy policies to incentivize value-based care nationwide. 4. Research Institute: Publishing real-world evidence and open-source data to guide future advancements in spine care. 5. Post-Fellowship Training Program: Equipping the next generation of MSK physicians with the skills and knowledge to lead the future of spine health. "The Center for SEOR will illuminate a path forward," stated Dr. Bae, "equipping physicians with the tools and knowledge they need to move away from outdated hospital models and deliver high-value, patient-centered care," said Drs. Hyun Bae and Sanjay Khurana, Co-Chairs of the CSEOR.

What You Should Know: - Commons Clinic, a leading value-based physician group transforming musculoskeletal (MSK) care, today announced the launch of the Center for Spine Economics, Outcomes & Research (SEOR). - This landmark initiative marks a $100M commitment over the next decade to revolutionize ambulatory spine care delivery, paving the way for more effective, affordable, and patient-centered treatment. Spine Care in Crisis Millions of Americans suffer from chronic back pain,
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Hospitals Show Signs of Recovery, But Growth Strategies Crucial for 2024 Success

by Fred Pennic 01/10/2024 Leave a Comment

Hospitals Show Signs of Recovery, But Growth Strategies Crucial for 2024 Success

What You Should Know: - A glimmer of hope shines through for hospitals, according to November data from Kaufman Hall's National Hospital Flash Report points to ongoing stabilization and even growth. - While the scars of the pandemic and economic challenges remain, key indicators suggest gradual recovery, with operating margins edging up and revenue streams climbing. Margins on the Rise, Though Gap Between Performers Persists The median calendar year-to-date operating margin index for
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Digital Health Funding Plunges in 2023, Setting Stage for 2024 Reckoning

by Fred Pennic 01/10/2024 Leave a Comment

Digital Health Funding Plunges in 2023, Setting Stage for 2024 Reckoning

What You Should Know: - The year 2023 saw a stark shift in the digital health funding landscape, according to Rock Health’s annual year-end digital health funding report. Gone were the days of exuberant funding rounds and endless optimism. - Instead, we witnessed a contraction, with venture capital drying up and startups scrambling to stay afloat. But amidst the turbulence, there were also signs of resilience, innovation, and a necessary course correction. 2023: A Year of Transition and
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Mayo Clinic, Techcyte Partner to Create AI-Powered Pathology Platform

by Fred Pennic 01/10/2024 Leave a Comment

Mayo Clinic, Techcyte Partner to Create AI-Powered Pathology Platform

What You Should Know: - Mayo Clinic Platformv and Techcyte have joined forces to revolutionize the field of pathology by creating a digital pathology platform. This platform aims to pioneer the next generation of pathology services through an open, AI-driven solution, enhancing treatment, efficiency, and accuracy globally. - By enabling healthcare organizations to economically digitize their pathology practices, the platform integrates innovative technical and AI workflow
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Arineta Cardio Imaging Welcomes New CEO Doug Ryan

by Executive Digital Health Hires 01/10/2024 Leave a Comment

Arineta Cardio Imaging Welcomes New CEO Doug Ryan

What You Should Know: - Arineta Cardio Imaging, a pioneer in cutting-edge cardiovascular imaging solutions, has appointed seasoned medical device leader Doug Ryan as its new CEO. - Ryan brings 30 years of expertise in building business infrastructure and crafting market strategies for global healthcare giants, poised to propel Arineta to new heights in the fight against cardiovascular disease. Proven Track Record of Success Prior to joining Arineta, Ryan held pivotal leadership
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Veracyte Acquires C2i Genomics for $70M, Expanding into Minimal Residual Disease Detection

by Fred Pennic 01/09/2024 Leave a Comment

Veracyte Acquires C2i Genomics for $70M, Expanding into Minimal Residual Disease Detection

What You Should Know: - Veracyte, Inc. (Nasdaq: VCYT), a cancer diagnostics company acquires C2i Genomics, Inc., a pioneer in minimal residual disease (MRD) detection. - Under the terms of the agreement, Veracyte will pay $70 million in Veracyte shares at closing, and up to an additional $25 million based on the achievement of future performance milestones over the next two years, payable in Veracyte shares or cash at Veracyte’s election. - This strategic move positions Veracyte to
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Cityblock Expands Access for High-Risk Medicaid Members in Ohio

by Fred Pennic 01/09/2024 Leave a Comment

Cityblock Expands Access for High-Risk Medicaid Members in Ohio

What You Should Know: - Buckeye Health Plan and Cityblock are teaming up to provide integrated, community-based care to approximately 10,000 underserved Medicaid recipients in the Cleveland-Akron-Canton area. - The strategic partnership promises to redefine healthcare delivery for vulnerable communities, prioritizing whole-person health and tackling barriers to access in Ohio. Building Bridges, Improving Outcomes Buckeye is a leading Ohio Medicaid managed care plan serving over
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Amazon Unveils Health Condition Programs Making Chronic Condition Management Easier

by Fred Pennic 01/08/2024 Leave a Comment

Amazon Unveils Health Condition Programs Making Chronic Condition Management Easier

What You Should Know: - Amazon launches its new Health Condition Programs to simplify access to digital health benefits offered by insurance plans and employers. - By partnering with companies like Omada Health, Amazon brings awareness and enrollment options directly to patients where they're already looking for health information. This collaboration targets conditions like diabetes prevention, diabetes management, and hypertension, impacting millions of Americans. How Amazon’s Health
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Amgen Builds Generative AI Models for Human Data Analysis and Drug Discovery

by Fred Pennic 01/08/2024 Leave a Comment

Amgen Builds Generative AI Models for Human Data Analysis and Drug Discovery

What You Should Know: - Amgen, a global leader in biotechnology, is embarking on a groundbreaking venture: Project Freyja. - The new initiative will harness the power of an NVIDIA DGX SuperPOD, christened after the Norse goddess of prediction, to accelerate drug discovery and development through AI-powered insights from one of the world's largest human datasets. Advance Drug Discovery Using NVIDIA DGX SuperPOD-Powered Insight Human Diversity Atlas: Freyja will map the landscape
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Abbott & Tandem Integrate to Bring Automated Insulin Delivery to US

by Fred Pennic 01/08/2024 Leave a Comment

Abbott & Tandem Integrate to Bring Automated Insulin Delivery to US

What You Should Know: - Tandem Diabetes Care and Abbott have joined forces to bring the first automated insulin delivery (AID) system in the US compatible with Abbott's latest FreeStyle Libre 2 Plus sensor. - The integration brings the benefits of advanced closed-loop technology to millions of Americans living with diabetes, helping them achieve better blood sugar control and manage their condition with greater ease. Seamless Integration for Precise Control: The t:slim X2 insulin
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