Reflecting on IT’s Transformation of Healthcare

health it week pictureAs we celebrate National Health IT Week, it is incredible to realize how health technology tools are transforming every facet of patient care. From telehealth, to 3D printers to artificial intelligence, the explosion of personalized health devices redefines the dynamics of patient treatment and interactions.

However, we still fall short in comparison to other industries, particularly in terms of consistent patient information access, and the lack of incentive for industry collaboration to achieve smooth, interoperable data transfers. This week, we strike a balance between applauding our progress, yet refusing to rest on our laurels.

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Successfully Approaching M&As in Healthcare IT

M&AOver the past couple of years, there have been around 200 merger and acquisition (M&A) deals in the healthcare IT space, driven by high enterprise value and the sheer size of the industry. 49 deals came together in the first quarter of this year alone. These numbers make health IT the highest performing industry in terms of M&A activity in the consumer and retail space, and the second highest in the infrastructure/industrial space.

Between 2018 and 2019, we will see an insatiable need for increased health IT interoperability, with providers putting increased pressure on health IT vendors to deliver. This pressure – combined with the shift brought on by new regulations like MACRA around performance, measurement and outcomes – will drive one of the biggest M&A pushes we’ve seen in the health IT industry.

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2019: The Era of Health IT M&A is Coming

Angela BlogOver the last few years, the healthcare industry has undergone an incredible revolution. Mobility solutions deployed across the care continuum are providing higher quality patient care. The shift from fee-for-service to fee-for-value – no matter how the political environment affects the market – is prevailing. Beyond that, innovation and digital tools are supporting this shift. In the U.S. alone, there are more than 6,000 medical device companies. Around 80 percent of them have fewer than 50 employees. Creative solutions to longstanding problems abound.

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Precision Medicine in 2017? Not So Fast…

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As we head into HIMSS 2017, the movement toward precision medicine is at the top of the agenda. The idea of using data to customize care for patients is not new; however, with the passage of the 21st Century Cures Act late in 2016, what was once a far-off dream now seems closer to reality.

But are we really that close? Unfortunately, the answer is no, unless we address the key barriers to success: interoperability and cybersecurity.

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Moving Beyond Buzzwords: Enabling the Future of Healthcare with Platform Technology

Laptop keyboard with trackpointAcross the country, health care organizations are re-envisioning how to deliver care. Major health systems like Lahey Health are seeking out new solutions that allow us to transition from episodic care to wellness – minimizing the impact of disease and managing the health of populations more effectively. At the same time, patients continue to demand more from their care providers. We now must bring care to patients at the time and location of their choosing, and this is the beginning of the consumerization of healthcare. These shifts require technology that can provide more comprehensive and context-aware views of patients’ data, support for collaborative care across the continuum, and allow health systems to scale their delivery of care in new ways. Consequently, CIOs face constant challenges to seek out the most effective technologies that will ensure an organization’s vision can come to fruition.

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Election 2016: Get Ready for a Healthcare Revolution

whitehouseFor over a year, the US has spent much of its time wondering who would be the next Commander-in-Chief, and what the implications would be with a Hillary Clinton or a Donald Trump presidency. Now that we have our answer – that Donald Trump will be leading the nation for at least the next four years – people across all industries are wondering how a new administration will impact their business.

What exactly will this new administration mean for healthcare IT? The space is relatively bipartisan. People on both sides of the aisle realize that technology can enable better patient care in a cost-effective way and has the ability to be far-reaching, providing better care options to those in rural areas. But there’s no doubt that the most recent election will drive some changes in 2017.

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Surfing the Wave of Healthcare Change

wave-2Healthcare is constantly evolving, and healthcare IT in particular is undergoing more change now than at any other point in history. Health systems trying to ‘ride the wave’ of change may often feel like they are implementing updates, only to face a new regulation, technology, or best suggested practice that shakes up the process yet again. While it is challenging to stay current, health systems looking to stay relevant need to constantly re-evaluate their processes and whether they are as efficient as possible. While these organizations can’t always predict what comes next, the triple aim of reducing costs, improving outcomes, and enhancing patient satisfaction, provides a solid framework for thinking ahead.

So how do you know where you are on the healthcare wave?

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