What You Should Know: - Healthcare profit pools are expected to grow 4 percent annually resulting from $654 billion in 2021 to $790 billion in 2026, according to a new McKinsey report. - The report reveals inflation is not transitory and the economic outlook has meaningfully darkened due to a healthcare worker shortage and endemic COVID-19. What to expect in US healthcare in 2023 and beyond The US healthcare industry faces demanding conditions in 2023, including
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COVID-19 Health Systems Impact: What Will Stop The Cash Hemorrhage?
The material cost of COVID-19 has been at the center of public discourse since the early days of the pandemic. In 2020, growth in federal government spending on healthcare increased 36 percent, compared to the 5.9 percent bump in 2019. While the distribution of vaccines has allowed for a version of pre-pandemic life to resume, hospitals are still not recovered from the high rates of hospitalizations that occurred in March 2020, and the indirect costs of the pandemic continue to loom over the
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VisualDx Awarded Grant from Bill & Melinda Gates Foundation to Advance Global Health and Diagnostic Accuracy in Underserved Regions
What You Should Know: - Bill & Melinda Gates Foundation awarded VisualDx a new grant to develop diagnostic tools for surveillance, detection, and triage of Neglected Tropical Diseases (NTDs) and other rare infectious diseases in India and Nigeria. - This project comes on the heels of similar public health collaborations with HHS and the state of Vermont. It also marks the second Gates Foundation grant VisualDx has received, following a
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Netherlands Cancer Institute to Deploy Proscia’s Pathology Platform
What You Should Know: - Proscia®, a provider of digital and computational pathology solutions, announced that the Netherlands Cancer Institute (NKI), one of the top 10 comprehensive cancer centers in Europe, will deploy its Concentriq® Dx platform. - NKI is transitioning to Concentriq Dx to expand its digital pathology practice, laying the foundation for its pathologists to deliver personalized diagnoses that better inform treatment decisions. In doing so, the cancer center,
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Why EHR Data Is Key to Gathering More Accurate Medical Assessments
Patient data in electronic health records (EHRs) holds a wealth of insights that can enable health systems to better serve their patient populations. However, data from EHRs is challenging because this data is messy due to the lack of standardization in how clinical data is collected, and often times valuable information is buried in unstructured fields such as notes. Additionally, EHR data is disconnected from EHR data at other sites of care resulting in an incomplete view of the
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5 Executive Healthcare Cybersecurity Predictions to Watch in 2023
Irfan Shakeel, VP of Training and Certification Services, OPSWAT Cyberattacks on the healthcare industry will continue to increase: The healthcare industry is most vulnerable to cyberattacks, which makes it a lucrative target for cybercriminals; attacks on the healthcare industry have grown significantly in 2022, and attacks will even go further in 2023. According to IBM, healthcare breaches cost the most at $9.23 million per incident. And, most importantly, cyberattacks not only affect human
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5 Executives Share Their Behavioral Health Predictions for 2023
As the start of the new year kicks off, we asked 5 healthcare executives to share their top predictions and trends for 2023. Dr. Yusuf Sherwani, Co-Founder and CEO of Quit Genius Employers will expand SUD treatment for employees: For example, Cigna more than doubled Evernorth’s Behavioral Health Network in recent months, and employers are now the ones driving demand for better behavioral health benefits for their employees. Employees with substance use disorder have become a financial
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Digital Health Funding Reaches $15.3B in 2022 Across 572 Deals, Rock Health Reports
What You Should Know: - In a downtrodden market climate, things don’t need to feel doom and gloom, according to Rock Health’s Annual 2022 digital health funding report. 2022 was a necessary reminder that investment is cyclical and that strong players build resilience in weathering funding climate changes. - Analysts expect that 2023 will be built up on slow, steady, and maybe even boring strategies for healthcare startups and enterprises alike: managing cash, restructuring to accommodate
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Why We Need Deflection to Reduce Overdose Deaths (and Drug Diversion) in 2023
The United States is still reeling from a devastating opioid epidemic. The Centers for Disease Control and Prevention (CDC) report that death from drug overdoses reached just under 108,000 between 2020 and 2021. That is enough to fill over four professional baseball stadiums. This staggering number of overdose deaths is due to many factors, including the sale of counterfeit medications and illegal drugs that often contain deadly doses of illicitly manufactured fentanyl and other
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How Low-Code Development Will Deliver The Future of Public Health Services
From reducing IT backlogs and accelerating app development, to empowering citizen developers and enabling “fusion” dev teams of programmers and business technologists, the private sector has been enjoying the benefits of low-code development for some time now. For those unfamiliar with the concept, “low-code” generally refers to app development platforms in which users can input information and get the results they need through graphical user interfaces, or GUIs, rather than having to
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