COVID-19 served as a brutal reminder that streamlining patient transitions from one care setting to another is critical – and even more so when hospital beds are at a premium. Even with less revenue flowing in, hospitals were still expected to quickly adapt as rising infections caused unexpected surges in hospitalizations. Better care coordination improves the patient experience and significantly lowers hospitals' costs by reducing the length of stay. In fact, one healthcare organization
Read More
4 Strategies for Health IT Leaders to Streamline Their Work & Serve Patients
As a physician turned entrepreneur, I’ve learned many lessons in my journey from the patient bedside to the health IT boardroom. As a young physician practicing in my native Denmark, my eyes were opened to the administrative headaches and limited engagement that was a result of too much paperwork and not enough focus on the patient. Since launching one of the world’s first patient portals in 2001 and subsequently moving to the US and founding my current digital health company in 2015, I’ve
Read More
HHS Establishes $80M Public Health IT Workforce Program
What You Should Know: - The U.S. Department of Health and Human Services’ (HHS) Office of the National Coordinator for Health Information Technology (ONC) today announced the establishment of an $80M Public Health Informatics & Technology Workforce Development Program (PHIT Workforce Program) to strengthen U.S. public health informatics and data science. - The PHIT Workforce Program aims to train more than 4,000 individuals over a four-year period through an interdisciplinary approach
Read More
CareCloud Acquires Health IT Consulting Firm MedMatica – M&A
What You Should Know: - CareCloud today announced it has acquired Santa Rosa Staffing, Inc. and the assets of MedMatica Consulting Associates, Inc., through the closing of an Asset and Stock Purchase Agreement. Financial details of the acquisition were not disclosed. - The acquisition reflects CareCloud’s continued expansion into the hospital and health system market, through its acquisition of industry leading businesses that provide IT consulting, strategic advisory services and
Read More
Talking about Cybersecurity Vulnerabilities in Medical Devices Shouldn’t be Taboo
According to the National Vulnerability Database, 18,353 vulnerabilities were reported in 2020. That’s nearly three times the volume of vulnerabilities reported five years ago, and higher than any year in the previous two decades. Given the rise in connected devices, this increase is not entirely unexpected. If that’s the case, shouldn’t we be seeing more vulnerability disclosures related to medical devices? The U.S. Department of Homeland Security Cybersecurity and Infrastructure
Read More
Allscripts Launches ADP Empower to Amplify Diverse Voices in Health IT
What You Should Know: - Allscripts announced its team that leads the Allscripts Developer Program (ADP) has launched ADP Empower, a new program designed to amplify diverse voices in the healthcare technology industry and offer valuable resources to underrepresented entrepreneurs to grow their businesses and accelerate innovation. - The Allscripts Developer Program aims to build a culture of innovation by reducing barriers and risk associated with installing and using innovative healthcare
Read More
What Will It Take for Hospitals to Survive the Pandemic?
On New Years Eve, just as the Covid-19 outbreak in Los Angeles was at its worst, all 451 of Olympia Medical Center’s exhausted employees learned they would soon lose their jobs. After 74 years, the hospital closed for good on March 31st, leaving residents of the surrounding community — poor and mostly people of color — without a place to see a doctor. And it isn’t the only hospital closing. At least 47 hospitals have closed or filed for bankruptcy in the last year, and there will
Read More
Q1 2021 Health IT/Digital Health PC/VE, M&A, IPOs/ SPACs Activity
The first quarter of 2021 has been one of investor optimism as the vaccine rollout continues ahead of expectations and economic activity begins to accelerate in response. Within the Health IT industry, the already strong investment and M&A trends seen in 2020 have only accelerated. Over the course of the quarter, we observed $7 billion in private equity and venture capital investment across 158 companies. By comparison, Q1 of 2020 saw $3.2 billion and 127 investments. Health IT
Read More
Dedalus Completes Acquisition of DXC’s Provider Healthcare Business – M&A Analysis
What You Should Know: Last week saw Dedalus complete the purchase of DXC’s healthcare provider business for $450M, a deal that was originally announced in July 2020. - DXC was created in 2017 via the merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise (HPE) - Dedalus has been through a rapid acquisition program over the last ten years acquiring a majority position with France-based Medasys/Noemalife in 2016 and then acquiring the EHR and integrated care
Read More
11 Best Practices of a Successful Care Model Transformation Plan
Health systems across the country will require a plan to react to government deep spending cuts and revenue shortfalls due to the COVID-19 pandemic. Hospital services have seen a significant downturn in demand in 2020, and the recent resurgence in cases has led to further decreases. The public health emergency has also resulted in innovation, most notably telehealth, which has been granted temporary pay parity during the pandemic. Still, hospitals and health systems face a year of losses, but
Read More
