“Information technology and business are becoming inextricably interwoven. I don't think anybody can talk meaningfully about one without the talking about the other” – Bill Gates wrote this in 1999 and, nowadays, the same can certainly be said about information technology and healthcare. The ability to collect, analyze, and use data is becoming ubiquitous with many of healthcare’s most exciting advancements. Whether it’s Google’s DeepMind using artificial intelligence (AI) to help
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How to Optimize Your Healthcare Practice with Advanced Technology Solutions
As COVID-19 continues to influence patient behaviors and causes providers to reevaluate how they operate their businesses, healthcare practices all around the world started looking for solutions that emphasize clinical efficiencies, elevate patient revenue cycle management, as well as feature enhanced reporting, and analytics tools. More so, along with facing challenges of the patient intake process during a pandemic, providers have also been put to the test with learning how to meet the sudden
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Escalating Cyberattacks on Healthcare Organizations Highlight Need for Security Interventions
Healthcare organizations have faced continual stress from heavy COVID-19 caseloads in 2020. Cyberattacks on their information networks also loomed as a serious threat, and the pressure to protect data is expected to grow this year, as more criminals target healthcare providers. Protecting patient data from unauthorized access has long been a regulatory prerequisite for healthcare organizations. But increasingly, cybercriminals see profit potential in attacking and crippling their networks,
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How Will Philips Acquisition of BioTelemetry Impact The Cardiac Monitoring Market?
At the end of December 2020, Philips announced the planned acquisition of BioTelemetry for $2.8 billion in cash. - BioTelemetry was formed in 2013 after a series of acquisitions from the initial founding company CardioNet, Inc. - CardioNet, Inc. based in San Diego, USA was initially founded in 1994. - After a multitude of acquisitions in recent years, BioTelemetry has established itself as a leading cardiac powerhouse, specializing in mobile and wireless medical technology. After this
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Virtual Care in the Post-COVID World: How to Prepare Your Healthcare Environment
As the COVID-19 pandemic accelerated telehealth adoption, many patients and providers supported the remote-friendly technology. While the big spikes of usage may slow, adoption is still far ahead from where it was pre-pandemic, and we expect that to remain. In fact, the global telehealth market is projected to reach $559.52 billion by 2027, and estimates indicate that up to $250 billion of the current U.S. healthcare spend could potentially be virtualized. Organizations were forced to
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Epic, Galen Healthcare, Chartis Group Named 2020 Overall Best in KLAS Awards
What You Should Know: - Epic was named the top Overall Software Suite for the eleventh consecutive year in the Best in KLAS 2021 Software & Services report, released today, which reports on the top vendors for 2020. Epic was also named the top Overall Physician Practice Vendor. Galen Healthcare Solutions was named the top Overall IT Services Firm. The Chartis Group earned the award of top Overall Healthcare Management Consulting Firm, edging out last year’s winner,
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EarlySense Sells Contact-Free Monitoring IP to Hilrom for $30M
What You Should Know: - Today, health AI/predictive analytics company EarlySense announced that it has sold its proprietary contact-free continuous monitoring technology intellectual property (IP) to Hillrom for a cash consideration of $30 million, potential payments based on the achievement of certain commercial milestones, and a portion of Hillrom’s equity investment in EarlySense. - As part of the agreement, EarlySense will receive licensing for
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The Combination of 5G and AI Will Transform Healthcare in 2021
Not many will disagree that the global pandemic has accelerated the use of technology in healthcare. With a healthcare system stressed to a breaking point, medical professionals have had to prioritize critical cases and increasingly turn to technology tools such as telemedicine and remote patient monitoring to manage the needs of their non-COVID patients. As we begin to look beyond the pandemic, we will not only have the lessons of this time but improved tools to support the delivery of
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MetroHealth System, CareSimple Launch Remote Patient Monitoring Program
What You Should Know: - CareSimple and MetroHealth System announced that they have entered into a strategic remote patient monitoring integration partnership. - Under the terms of
the agreement, CareSimple will empower the Cleveland, Ohio public health system
with simple, patient-friendly RPM solutions to improve health outcomes for
their high-risk senior and chronically ill populations. The MetroHealth System, a nationally recognized public health care system located in
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Top 5 Business Opportunities for Digital Health Companies in 2021. Where Is The Money?
For many companies, 2020 has been a devastating year due to the consequences of the COVID-19 pandemic. While the same can be said for the digital health sector, the pandemic has also paved a way for unexpected and extraordinary business opportunities in 2021. In 2020, Digital health start-ups and more established companies have suffered, as have other companies from a variety of industries. We have seen governments set up rescue funds for start-ups, including those that offer services for the
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