What You Should Know:
- Hippocratic AI, a company developing a safety-focused Large Language Model (LLM) for healthcare raises $53M in Series A funding, bringing their total funding to $120M. The round was co-led by Premji Invest and General Catalyst with participation from SV Angel and Memorial Hermann Health System as well as existing investors Andreessen Horowitz (a16z) Bio + Health, Cincinnati Children’s, WellSpan Health, and Universal Health Services (UHS).
- The company also launched
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NVIDIA, J&J MedTech Partner to Develop AI-Powered Digital Surgery Ecosystem
What You Should Know:
NVIDIA and Johnson & Johnson MedTech (J&J MedTech) are teaming up to develop new AI capabilities for J&J's connected digital surgery ecosystem.
The strategic collaboration aims to boost operating room (OR) efficiency, improve clinical decision-making, and accelerate innovation in surgical AI.
Why AI is Critical for the Future of Surgery
AI is already used in surgery to analyze data collected during procedures. This new partnership takes things a step
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Unlocking the Potential of Value-Based Care with AI
The momentum of value-based care (VBC) is poised to accelerate. The Centers for Medicare and Medicaid Services (CMS) has outlined an ambitious objective: to transition all traditional Medicare beneficiaries into a VBC arrangement by 2030, a notable increase from the mere 7% recorded in 2021 by Bain Research. As more plans, providers and members enter VBC arrangements, substantial volumes of clinical data will need to be managed effectively to oversee patient risk and care quality.
The
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HIMSS24 Roundup: M&A, Strategic Partnerships, Deployments, Product Launches, Funding, More
Strategic Partnerships
New Consortium Aims to Ensure Responsible Use of AI in Healthcare
A new initiative, the Trustworthy & Responsible AI Network (TRAIN), was announced at the HIMSS 2024 Global Health Conference. Through collaboration, TRAIN members will help improve the quality, safety, and trustworthiness of AI in health by sharing best practices, enabling registration of AI used for clinical care or clinical operations, providing tools to enable measurement of outcomes
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Better Therapeutics Shutters Operations, Terminates Employees, NASDAQ Delisting
What You Should Know:
- Better Therapeutics (BTTX), a developer of prescription digital therapeutics (PDT), announced today it is shuttering operations and terminating its employees as they explore strategic alternatives.
- The announcement follows a special meeting of the board of directors on March 13, 2024.
Strategic Crossroads
The company will explore strategic options, including:
Assignment for the Benefit of Creditors (ABC): In an ABC, an independent trustee takes
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Nursing Report Reveals Generational Divide on Nursing’s Future, Amidst Staffing Shortages
What You Should Know:
- Incredible Health, the leading healthcare career marketplace, released its 5th Annual State of US Nursing Report today. The report, based on data from one million nurses and a survey of over 3,300, offers a comprehensive look at the state of nursing in the United States.
- The report underscores the need for solutions to address staffing shortages, improve compensation, and enhance nurse safety and well-being. Collaboration between healthcare systems,
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Feds Launches Investigation of Change Healthcare Cybersecurity Attack
What You Should Know:
- The Department of Health and Human Services' Office for Civil Rights (OCR) has announced an investigation into the recent cyberattack on Change Healthcare, a subsidiary of UnitedHealth Group (UHG).
- The cybersecurity attack has significantly disrupted healthcare billing and information systems nationwide, potentially impacting patient care.
Investigation Focuses on HIPAA Compliance
The OCR enforces the Health Insurance Portability and Accountability Act
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Lilly Partners with Amazon Pharmacy to Deliver GLP-1 Medications Directly to Patients
What You Should Know:
- Eli Lilly and Company (Lilly) and Amazon Pharmacy today announced a strategic collaboration to improve patient access to GLP-1 medications for diabetes, obesity, and migraines.
- The partnership aims to improve access to these treatments and empower patients with the support they need to manage their chronic conditions.
Addressing a Growing Need
Millions of Americans struggle with diabetes, obesity, and related conditions. Nearly one in three adults
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Availity Processes More Than $5B in Claims Stuck with Change Healthcare
What You Should Know:
- The Change Healthcare cybersecurity breach continues to disrupt the healthcare industry three weeks after the initial incident. Hospitals, physicians, pharmacists, and health plans are struggling to maintain operations amidst logistical and financial challenges. Patients nationwide face uncertainty regarding their ability to receive necessary care.
- Availity, the nation's largest real-time health information network, has emerged as a key resource in helping these
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HIMSS24: Google Cloud Unveils New Generative AI Solutions for Healthcare and Life Sciences
What You Should Know:
- At HIMSS24, Google Cloud announced a suite of new generative AI solutions designed to address key challenges faced by healthcare and life sciences organizations.
- These solutions focus on improving interoperability, building a strong data foundation, and deploying generative AI (gen AI) tools to enhance patient outcomes.
Unlocking Gen AI to Improve Healthcare Efficiency
The healthcare industry is grappling with rising administrative costs, clinician burnout,
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