Over a year ago, we predicted that 2019 would be the era of health IT M&A, with the transition to value-based care as a primary driver. The M&A activity in the first half of 2018 is proof of this momentum – healthcare-related M&A increased 23% compared to the second half of 2017.
What makes a hospital great? Each year, a variety of industry lists designate which hospitals are ‘the best,’ including U.S. News & World Report rankings, CMS star ratings, Leapfrog grades and Truven Health Analytics. While many of these rankings use important metrics such as excellence in clinical care, patient outcomes and physician satisfaction, they often fail to recognize the intangible piece of what it truly takes to make a great hospital – culture. Great hospitals embrace foundational values that support day-to-day operations and encourage innovative ideas for continuous improvement.
Gender inequality in the workplace is a systemic phenomenon that remains tough to crack, despite societal pressures driving increased scrutiny. Healthcare is no exception. In the past year and a half since we last reflected on the status of women in healthcare, statistics show more women in leadership roles. According to Rock Health Research, the number of female executives at Fortune 500 healthcare companies increased from 20 percent in 2015 to 22.6 percent in 2017. Women also continue to be well represented in the broader healthcare workforce.
The healthcare data explosion has prompted thorny debates over data ownership and access. Obviously, patients have a vested interest in having access to their own personal health history, but the data holds value for other stakeholders as well. For example, providers need a complete patient picture to provide personalized care, and researchers want to aggregate and analyze data to establish trends and predictive insights.
The march toward value-based care has prompted a seemingly endless number of vendors to claim they have the ‘secret sauce’ that will help health systems and vendor partners succeed in an ever-evolving market.
With so many options, decision-makers must separate false promises from real opportunities and identify the companies that will have staying power. Taking a thoughtful and strategic approach to analyzing options will help identify beneficial long-term partners. Continue reading
This week marks National Nurses Week in the U.S., both a celebration of the profession and an opportunity to educate the public about the role nurses play in healthcare and their communities. This year’s theme of “Nurses: Inspire, Innovate, Influence” highlights three concepts that overlap and reflect the innate role nurses play in patient care, as well as drawing attention to the personality types often drawn to nursing.
Driving toward value-based care first requires a healthy understanding of the environment in which we are operating. Though regularly criticized, the U.S. healthcare system is actually strong: we have some of the world’s best hospitals and doctors. Individual service lines can provide attentive and effective care, whether it is cardiology, endocrinology or oncology.
However, we are falling short by failing to pull these service lines together. That is where the challenge lies. By focusing on wellness, we have the capability to deliver collaborative care and truly transformative outcomes.