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Fred Pennic, Editor-in Chief | HIT Consultant

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

Blockchain Technology in Healthcare Market to Reach $750B by 2033

by Fred Pennic 01/12/2024 Leave a Comment

Blockchain Technology in Healthcare Market to Reach $750B by 2033

What You Should Know: - The healthcare industry is poised for a seismic shift, powered by a disruptive technology: blockchain, according to the market.us, the Blockchain Technology in Healthcare Market report. - This transformative ledger system is projected to propel the global Blockchain Technology in Healthcare Market to a staggering $750B by 2033, a 69.2% annual growth rate compared to its $3.9B valuation in 2023. Unleashing the Power of Healthcare Blockchain Imagine a healthcare
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Artisight’s AI-Powered Smart Hospital Platform Soars with $42M

by Fred Pennic 01/11/2024 Leave a Comment

Artisight's AI-Powered Smart Hospital Platform Soars with $42M

What You Should Know: - Artisight, Inc., a pioneer in AI-Driven smart hospital technology, announced today that it has raised $42M in an oversubscribed Series B funding round. - The Series B funding will allow Artisight to double its headcount, fuel the development of new AI capabilities, and solidify its position as the leading smart hospital platform. Smart Hospital Platform: Revolutionizing Care Through AI and Collaboration Developed by clinicians for clinicians, Artisight's
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St. Joseph’s/Candler Hospital Pioneers Hospital Foodservice with Amazon’s Just Walk Out Technology

by Fred Pennic 01/11/2024 Leave a Comment

What You Should Know: - St. Joseph's/Candler Hospital and Morrison Healthcare are revolutionizing hospital food service with the first-ever implementation of Amazon's Just Walk Out technology in a healthcare facility. - This groundbreaking move offers patients, visitors, and staff unprecedented convenience and 24/7 access to a variety of food and beverage options. Frictionless Shopping Meets Employee Convenience The Just Walk Out-enabled SmartBytes market operates seamlessly. Simply
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Rune Labs Scores $12M to Power Personalized Parkinson’s Care with AI

by Fred Pennic 01/11/2024 Leave a Comment

Rune Labs Scores $12M to Power Personalized Parkinson's Care with AI

What You Should Know: - Rune Labs, a precision neurology company, announced a strategic $12M funding round, bringing its total to over $42 million. The round was led by Nexus NeuroTech Ventures, a new brain disorder fund, with participation from existing investors. - This strategic partnership marks a significant step forward in Rune Labs' mission to revolutionize Parkinson's disease care through personalized data and cutting-edge technology. Transforming Parkinson's Care with Data and
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Labcorp & Hawthorne Effect Partner to Supercharge Decentralized Clinical Trials

by Fred Pennic 01/11/2024 Leave a Comment

Labcorp & Hawthorne Effect Partner to Supercharge Decentralized Clinical Trials

What You Should Know: - Labcorp, a global leader in innovative laboratory services, and Hawthorne Effect, Inc., a pioneer in technology-driven clinical trial solutions, have announced a groundbreaking partnership to revolutionize clinical trials with a focus on decentralization. - This collaboration aims to unlock unprecedented levels of patient diversity, reduce site burden, and accelerate study timelines for pharmaceutical, biotech, and medical device sponsors. Decentralization: The
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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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