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.
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