The healthcare market underwent significant changes during the pandemic as patients rethought how they received care, including opting for more telehealth and deferred elective procedures, but patient care is now normalizing as patients return to the office. However, payers are working to reduce the cost of care to reel in healthcare costs and keep premiums lower to remain competitive, driving key changes. Ambulatory Surgery and Home Care Surgeries are increasingly moving away from
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Health IT for Emerging “Payviders”
Though doubts about the benefits of the “payvider” model certainly exist, the success of recent payer-provider partnerships showcases the potential of these programs to improve the patient and provider experience. A study of Aetna’s integrated program, for example, found that plan members could realize significant savings for high-cost chronic conditions and experience fewer hospital admissions. A similar report from Cigna echoed these conclusions, finding that integrated benefit plans resulted
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Healthcare & Life Science M&A Activity Plummets 1H’22
What You Should Know: - The index of Healthcare & Life Science equities tracked by Stout was down 16.8% in Q2 2022, which was in line with the S&P 500 decline of 16.4%. - Healthcare & Life Science M&A activity plummeted to 338 deals in Q2 2022 versus 535 in Q2 2021 and a record 565 deals in Q4 2021. The report reveals credit markets likely to tighten, but a healthy level of M&A is expected to continue in the growing and defensive healthcare sector. Key Trends and
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Hospital Margins are Still in the Red Halfway Through 2022
What You Should Know: - U.S. hospitals, health systems, and physician practices continue to face historically high operating expenses that increased patient volumes and revenues could not counteract, leading to negative margins for the sixth straight month in 2022, according to data from Kaufman Hall’s National Hospital Flash Report and Physician Flash Report. - The median Kaufman Hall year-to-date operating margin index for hospitals was -0.09% through June, for a sixth
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MediQuant® DataArk Awarded Project to Archive All Military Health Records
What You Should Know: MediQuant®, a provider of enterprise active archiving and conversion solutions, has been selected by the US Defense Health Agency (DHA) to help consolidate all clinical data across the Military Health System as it transitions to a new enterprise electronic health records (EHR) platform by 2024. - The contract to deploy MediQuant’s DataArk solution for the DHA “Genesis” rollout was secured by ECS, a leading provider of science, engineering, and advanced technology
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Leveraging A More Impactful Analytics Strategy to Improve Your Health Plan Member CX
Healthcare organizations are increasingly eager to leverage analytics technologies, including machine learning and artificial intelligence (AI), in new ways. One telling sign of this is that the global predictive analytics healthcare market, which was valued at $1.8 billion in 2017, is projected to reach more than $8.5 billion by 2025. But as technology evolves, it’s clear that the types and use of analytics platforms that can drive change among health plans — as well as the breadth of
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Does Telemedicine Impede or Help the Patient-Centered Medical Home?
Traditional patient care patterns have been radically altered by the COVID-19 pandemic. And after more than a year of disruption, it’s doubtful that everyone will revert to those patterns after the pandemic. New habits have been formed, and consumers are more willing to pursue the path of least resistance in obtaining care, such as opting for quick and easy telemedicine appointments. Both patients and clinicians have identified benefits from virtual care approaches. However, this and other
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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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Maximizing Telehealth Success: How to Optimize Operations & Revenue Cycle Management
In COVID-19’s wake, providers’ financial recovery will be crucial yet daunting. U.S. hospitals and health systems stand to collectively lose $36.6 billion between March and June 2020 alone. Physician practices also face serious financial challenges as they recoup revenues that declined up to 55 percent and patient volume that decreased 60 percent. Amid these hardships, telehealth has emerged as a widely accepted vehicle for care delivery – providing a way for healthcare organizations to
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Designing A Digital Experience to Drive Revenue and Patient Engagement
With the rise of healthcare consumerism, people are looking to hospitals, health systems, and physician practices to deliver the same user-friendly, digital experiences they receive from other industries. A recent survey found that more than 80% of consumers surveyed believe “shopping for healthcare should be as easy as shopping for other common services.” Specifically, they want streamlined access points online where they can shop for and purchase healthcare, easily make appointments,
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