Standard & Poor’s has changed its outlook on Greensboro, NC-based Cone Health from stable to negative based on poor financial performance. Despite more than 300 layoffs during 2013, Cone reported a Q3 operating loss of $17 million on $806 million in patient revenue. The S&P has affirmed Cone’s AA credit rating, saying that the financial problems of 2012 and 2013 were are based largely on one-time costs. Cone spent $90 million to implement Epic and $40 million in additional Epic operating expenses over three fiscal years, as well as adding 90 full-time employees to help with maintenance and operation of Epic.
KLAS releases a report evaluating the emerging population health software market, finding that no single vendor is leading but that a handful of vendors are beginning to emerge as early segment leaders.
IBM has launched an API that will allow developers to build applications that make use of the Watson Supercomputers ‘cognitive computing’ power. One developer that has already announced intentions of developing an app is Hippocrates, from MD Buyline, that will help clinical users make real time decisions.
In a press release issued by the Department of Defense, DoD and VA Interagency Program Office director Christopher Miller outlined what has been happening with the DoD/VA integrated EHR project as of late. Miller wears two hats within the DoD, one heading up the DoD’s EHR vendor search and the other overseeing the VA/DoD interagency department responsible for successfully planning and completing the iEHR project. Miller’s letter highlights a focus on interoperability a need to pursue meaningful data exchanges so that the DoD can coordinate not only with the VA, but also with civilian healthcare systems that often provide referral services for active duty service members.