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November 15, 2013 News 1 Comment

Credit-rating agency downgrades Cone Health

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.

Vendors Rushing to Mark Territory in Population Health Management Land Grab

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 to open up Watson to third-party developers

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.

DOD Seeks Value, Quality in Modernizing Health Records System

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.

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Currently there is "1 comment" on this Article:

  1. What I do not understand is why would Cone or any other hospital go into hock for an EHR that causes 12,000 issues or glitches like at Arizona Health. Cone may have only 6,000 since it is smaller.

    Would they not have better outcomes by spoending half of that money on nurses and medicines for the indigent?

    If the US health system is to have outcomes comparable to foreign countries, it will need to deploy its capital to projects such as caring for the downtrodden and indigent tahter than loading the HIT vendors’ cash registers with $$$$$$$$$$$$$$$$$$$$$$$.

    Congress: are you listening and reading?

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