What You Should Know: - Small hospitals are changing their EMRs and patient accounting systems at a greater rate than that of their large-hospital counterparts. Most market selection energy is going to Oracle Health (Cerner), MEDITECH, and Epic; small hospitals also use other vendors like athenahealth, CPSI, and MEDHOST. - While many vendors offer viable clinical systems, there are significant differences across the customer experience with patient accounting that should not be overlooked
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Cerner Corporation | Health IT News, Analysis, Insights - HIT Consultant
FHIR Adoption and Implementation Challenges
The Fast Healthcare Interoperability Resources (FHIR) standard was introduced by HL7 in 2014 as a significant replacement for the HL7 V2 and V3 standards. An open standard called FHIR, which was initially drafted in 2011 makes it easier than ever for legacy systems and new apps to exchange data. FHIR was created to not only increase communication efficiency and interoperability compared to earlier standards but also to facilitate implementation by giving clear specifications and allowing
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Unlocking Patient Medical Records Through Digital Retrieval of Clinical Data
Thousands of times a day, at health systems throughout the US, workers manually search for patient medical charts, print them out on paper, or save them to a file—and then fax, mail, or email them to a payer or third party who has requested it. The productivity for this often manual approach is about five charts an hour per worker, and the average cost to retrieve a medical record varies by state, health system, and the number of pages. The cost per medical record ranges from about $25 to
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M&A: LeanTaaS Acquires Hospital IQ, Combined Valuation Exceeds $1B
What You Should Know: - LeanTaaS, Inc., a provider of AI-powered and SaaS-based capacity management and patient flow software for health systems, today announced it has acquired Hospital IQ, a provider of intelligent automation solutions for hospitals. The acquisition values the combined company at more than $1 billion in enterprise value and enables it to power intelligent operations across more than 180+ U.S. health systems. The financial terms of the acquisition were not disclosed. -
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Asia/Oceania EMR 2022: Regional Market Share & Vendor Performance
What You Should Know: - As healthcare organizations have come out of the peak of the COVID-19 pandemic, EMR purchase decisions in Asia have ramped up. In Oceania, most public hospitals have an EMR in place, but purchase energy remains high since many public and private provider organizations are planning large-scale purchases of go-forward EMRs. - This report—KLAS’ first focused exclusively on Asia and Oceania—highlights (1) market share and vendor energy in recent EMR purchase decisions
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Midsize/Large Practice Management 2022: Which Vendors Stand Out in an Established Market?
What You Should Know: - Most practice management (PM) solutions have a long tenure in the market, yet not all vendors successfully meet practices’ needs—which include strong technology and a vendor who acts as a partner in customer success. Historically, KLAS has split PM data by midsize (11–75 physicians) and large practices (76+ physicians); however, independent practices (clinics not owned by a hospital/health system) and owned practices (clinics owned by a hospital/health system) also
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EMRs Are Outdated, but Big Tech Is Not The Answer
Over a decade ago, the “meaningful use” clause in the United States Affordable Care Act incentivized Electronic Medical Record (EMR) adoption. The purpose of this directive was to improve the transfer of laboratory data to point-of-care clinicians to help us make better, more informed decisions for our patients. In the years that followed, EMR systems have proliferated globally; countries like New Zealand, Norway, and the Netherlands are reporting EMR usage rates above 90% for primary care
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HLTH22 Day 1 News Summary: Google, Maven, Highmark, LG, Others
Venture Capital, Private Equity Funding Maven Clinic Secures $90M to Advance End-to-End Family Care Platform Maven Clinic, the largest virtual clinic in women’s and family health raises $90 million Series E funding bringing its total funding to $300M. Maven plans to use the latest round of funding to advance its end-to-end family care platform to enable deeper personalization to meet the diverse needs of women and families everywhere. Curavit Raises $5M for Digital Therapeutics
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HLTH 22: Cerner & Labcorp Partner to Manage Hospital Labs in 10 States
What You Should Know: - Oracle Cerner and Labcorp have formed a new relationship to streamline lab operations for one of the nation’s leading nonprofit Catholic health systems. Labcorp purchased select assets of the health system’s outreach laboratory business and will manage its hospital-based laboratories in 10 states. - Cerner’s laboratory information system (LIS) will help Labcorp centralize operations and streamline processes within the
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Digital Fax Solutions Alleviate Administrative Burden and Reduce Costs
At the LeadingAge Illinois 2022 Annual Meeting, Elizabeth McLaren, VP of Reimbursement and Community-Based Services, along with Steven Wermuth, MPA at Strategic Health Care, presented their analysis on the top billing mistakes. What did they find? Within long-term care providers, 8-10% of Medicare Advantage claims were denied. Shockingly, the 10% denial rate impacted revenue by $200 million! They also found that 80% of denied claims are due to missing or incorrect information used during intake
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