THCB 20th Birthday Classic: McKinsey wants to inspire lots of change; caveat emptor
by MATTHEW HOLT
So to celebrate 20 years, we’ll be publishing a few classics for the next week or so. This is one of my faves from the early days of THCB, back in 2006. It’s interesting to compare it with Jeff Goldsmith’s NEW piece from yesterday on vertical integration because at the time a pair of Harvard professors, Michael Porter and Elizabeth Teisberg were telling hospitals to change their operations in a way that seemed to me were going to destroy their business–cut down to one or two service lines they were best at and stop with the rest. McKinsey picked up on this and I went to town on wh...
Source: The Health Care Blog - August 14, 2023 Category: Consumer Health News Authors: matthew holt Tags: The Business of Health Care Elizabeth Teisberg Hospitals Matthew Holt Mckinsey Michael Porter Source Type: blogs
Vertical Integration Doesn ’t Work in Healthcare: Time to Move On
Conclusion
Healthcare providers of all stripes must leave the industrial world behind. The value chains in health services are not physical, but rather comprised of human relationships, sustained by trust. Virtual care, the advent of AI in healthcare and consumer demand will require a flexible, 24/7 and care anywhere business model. Those who build the best modern clinical mousetrap will end up with a committed clinical staff and loyal patients. Healthcare isn’t about the building, or the brand, or scale. Surviving and thriving in the future will require engaged clinicians who foster trust on the part o...
Source: The Health Care Blog - August 14, 2023 Category: Consumer Health News Authors: matthew holt Tags: The Business of Health Care Hospitals Jeff Goldsmith Physicians Vertical integration Source Type: blogs
GenHealth.AI Accelerates into Healthcare AI Market with New Funding, Advisor Appointments and Use Cases Across Healthcare
AI Start-up Pioneering Generative AI for Healthcare Receives $13M in Early Funding, Adds Industry Luminaries as Advisors, and Kicks off Use Cases for Health Insurance Plans and Provider Systems
GenHealth.ai, a game-changing generative AI startup, is pushing the boundaries of AI in healthcare. The new company spun out of healthcare interoperability leader 1upHealth three months ago and secured $13M in funding, co-led by Craft Ventures and Obvious Ventures. GenHealth.ai also added industry leaders to its advisory board and launched numerous use cases for health insurance plans, pharmacies, and healthcare providers.
Most of t...
Source: EMR and HIPAA - August 10, 2023 Category: Information Technology Authors: Healthcare IT News Tags: Health IT Company Healthcare IT 1upHealth Aneesh Chopra CareJourney Craft Ventures Don Rucker MD Eric Marriott Ethan Siegel GenHealth.ai Health IT Funding Health IT Fundings Health IT Investment Obvious Ventures Ricky Sahu Source Type: blogs
What ChatGPT Means for Virtual-First Care
The following is a guest article by Erica Jain, Co-Founder and CEO at Healthie
ChatGPT has been dominating headlines since its release in November. While the AI Chatbot has already led to some truly whimsical poetry, comedic greetings, and helpful travel suggestions, it has also started to raise questions about its application in healthcare.
ChatGPT is revolutionizing the world – and this will hit healthcare, albeit a bit slower than other industries. Healthcare is inherently conservative and resistant to change, plus liability in a care setting is a massive issue. All that being said, in the 5 to 10-year time horizo...
Source: EMR and HIPAA - August 8, 2023 Category: Information Technology Authors: Guest Author Tags: AI/Machine Learning Ambulatory Clinical EMR-EHR Health IT Company Healthcare IT Hospital - Health System LTPAC AI Chatbot ChatGPT Digital Health Erica Jain Healthcare Chatbots Healthcare ChatGPT Healthcare Generative AI Healt Source Type: blogs
Bonus Features – August 6, 2023 – 83% of hospitals are collecting SDoH data, 46% of hospitals planning to use large language models in the call center, and more
This article will be a weekly roundup of interesting stories, product announcements, new hires, partnerships, research studies, awards, sales, and more. Because there’s so much happening out there in healthcare IT we aren’t able to cover in our full articles, we still want to make sure you’re informed of all the latest news, announcements, and stories happening to help you better do your job.
News and Research
Five in six (83%) of hospitals are collecting SDoH data, according to the latest ONC Data Brief, with 74% using structured, electronic screening tools. Another 60% of hospitals are receiving SDoH data from out...
Source: EMR and HIPAA - August 6, 2023 Category: Information Technology Authors: Brian Eastwood Tags: Healthcare IT ACO REACH AdvancedMD athenahealth Barracuda Cadence CareAR Carenet Health Cedar Clarify Health Cognizant Configo Health Connect Cost Plus Drugs David Bertoch David S. Wichmann Denise Ceule Dr. Mark Cohen e Source Type: blogs
Painful physician burnout truths
Every week, there is a new article or blog about physician burnout. According to Business Wire, nearly half (49 percent) of U.S. physicians reported burnout in 2023, up slightly from 2022 (45 percent). It’s the same ideas rehashed repeatedly – doctors are worn out, drowning in paperwork, suffering due to insurance restrictions, and considering early
Read more…
Painful physician burnout truths originally appeared in KevinMD.com. (Source: Kevin, M.D. - Medical Weblog)
Source: Kevin, M.D. - Medical Weblog - August 4, 2023 Category: General Medicine Authors: Tomi Mitchell, MD Tags: Physician Primary Care Source Type: blogs
Why Are So Many Healthcare Companies Still Being Breached?
The following is a guest article by Terry Ray, SVP, Data Security GTM, and Field CTO at Imperva
Despite satisfying regulatory requirements, 93% of healthcare organizations have experienced a data breach within the past three years and 57% have been breached more than five times over that span. The alarming frequency and severity of these breaches leave many wondering why. The Health Insurance Portability and Accountability Act (HIPAA) is one of the most well-known – though broadly misunderstood – data protection regulations, and it includes stiff penalties for noncompliance. With such stringent protections in place, ...
Source: EMR and HIPAA - August 3, 2023 Category: Information Technology Authors: Guest Author Tags: Ambulatory C-Suite Leadership Health IT Company Healthcare IT HIM Hospital - Health System LTPAC Regulations Security and Privacy Cybercriminal EHR Healthcare Cyberattacks Healthcare Data Breach HIPAA Imperva Terry Ray Source Type: blogs
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The federal government updated its regulatory approach to short-term insurance plans, and states also may determine the time is right to revisit these products.
(Source: The Commonwealth Fund: Blog)
Source: The Commonwealth Fund: Blog - August 2, 2023 Category: International Medicine & Public Health Authors: Justin Giovannelli, Kevin Lucia, Christina L. Goe Source Type: blogs
Featured Health IT Jobs – Epic Application Analyst/Coordinator
We like to regularly feature a healthcare IT job that might be of interest to readers. Today, we’re featuring the Epic Application Analyst/Coordinator position that was recently posted on Healthcare IT Central. This position was posted by Yakima Valley Farm Workers Clinic and is located in Toppenish, Washington.
Here’s a description of the position:
What We Offer
Sign-on bonus of $1,500 in first paycheck and $1,500 at 12 months of employment
Salary $70,000-$90,000 DOE with ability to go higher for highly experienced candidates (salary will be prorated if less than 1.0 FTE)
100% employer-paid health insurance for...
Source: EMR and HIPAA - August 2, 2023 Category: Information Technology Authors: John Lynn Tags: Career and Jobs Healthcare IT Coordinator Jobs Epic Application Analyst Epic Jobs Featured Opportunities Health IT Careers Health IT Jobs Healthcare IT Jobs Job Seekers Yakima Valley Farm Workers Clinic Source Type: blogs
When Mark Cuban Cost Plus Drug Company Says Your Prescription is " Out of stock "
My followers may recall that about a year ago (on August 22, 2023), I blogged about (see https://blog.sstrumello.com/2022/08/generic-crestor-pricing-insanity.html for the post) that I had made a conscious decision to simply disintermediate my own insurance pharmacy benefit to buy an inexpensive generic statin drug because my own pharmacy benefit manager was screwing me. Currently, I ' m covered by Aetna which is now owned by CVS Health, which also owns the PBM known as Caremark. Caremark was robbing me on the statin. It was overcharging me. They were trying to charge me $33.85 for a 90-day supply of a cheap...
Source: Scott's Web Log - August 1, 2023 Category: Endocrinology Tags: 2023 cash pharmacy cash-only pharmacy Crestor Mark Cuban Cost Plus Drug Company rosuvastatin calcium Source Type: blogs
Fight Aging! Newsletter, July 31st 2023
In conclusion, an SBP level below 130 mmHg was found to be associated with longevity among older women. The longer SBP was controlled at a level between 110 and 130 mmHg, the higher the survival probability to age 90. Preventing age-related rises in SBP and increasing the time with controlled BP levels constitute important measures for achieving longevity.
« Back to Top (Source: Fight Aging!)
Source: Fight Aging! - July 30, 2023 Category: Research Authors: Reason Tags: Newsletters Source Type: blogs
Preserving Patient Dignity (Formerly Patient Modesty) Volume 127
Discussion Blog)
Source: Bioethics Discussion Blog - July 28, 2023 Category: Medical Ethics Source Type: blogs
How Automated Lineage Improves Healthcare Data
The following is a guest article by Ernie Ostic, Chief Evangelist at Manta
The healthcare industry creates a vast amount of data each year — roughly 30% of worldwide data — the bulk of which must conform with regulatory standards. That data lives in a complex and evolving ecosystem, integrated with multiple applications and infrastructures, creating countless dependencies.
Between the volume of data and the web of interconnected systems, those dependencies remain hidden from most users in a “black box” of sorts. Without insight into the inner workings of their own flow of information, most healthcare organizations...
Source: EMR and HIPAA - July 27, 2023 Category: Information Technology Authors: Guest Author Tags: Analytics/Big Data Clinical Health IT Company Healthcare IT Hospital - Health System Interoperability CHRISTUS CHRISTUS Health Data Breaches Data Lineage Ernie Ostic Healthcare Automation Healthcare Data HIPAA Lineage in Health Source Type: blogs
Sach Jain, CEO of Carrum Health talks to Matthew Holt
The concept of “centers of excellence” has been around for a few decades. Surely sending health plan members and self-insured employers’ employees to the best and most effective providers should improve health outcomes and save payers’ money? Sach Jain is CEO of Carrum which has been working on this problem, partnering with the best providers and aggregating that demand from employers…and putting it all on a state of the art platform. As you might suspect, it’s not as easy as it looks. Carrum raised $45m from Omers Ventures a few weeks back, on top of a decent raise from Tiger Global a c...
Source: The Health Care Blog - July 27, 2023 Category: Consumer Health News Authors: matthew holt Tags: Matthew Holt THCB Spotlights Care Navigation Carrum Health Centers of Excellence Sach Jain Source Type: blogs
Is More Physician-Owned Hospitals the Solution to our Health Cost problem?
BY JEFF GOLDSMITH
Robert Frost once said, “Home is where, when you have to go there, they have to take you in.”
Increasingly, in our struggling society, that place is your local full service community hospital. During COVID, if it wasn’t your local hospital standing up testing sites, pumping out vaccinations and working double overtime helping patients breathe, we would have lost several hundred thousand more of our fellow Americans.
But it wasn’t just COVID where hospitals leaped into the breach. As primary care physicians’ practices collapsed from documentation overburde...
Source: The Health Care Blog - July 26, 2023 Category: Consumer Health News Authors: Ryan Bose-Roy Tags: The Business of Health Care Affordable Care Act COVID Jeff Goldsmith Physician-Owned hospitals Source Type: blogs
