I realize it's been quite a while since I taught - or was in school myself - but I'm distressed…
Morning Headlines 10/13/17
Outcome Health, a hot $5 billion startup, reportedly misled its advertisers
Outcome Health, a Chicago-based healthcare startup, reportedly raised a $500 million funding round on a $5 billion valuation that was based on misleading performance metrics and falsified growth data. The company creates patient education videos intermixed with pharmaceutical ads to be played in doctor’s office waiting rooms.
Trump begins Obamacare dismantling with executive order
President Trump signs an executive order that will create new, non-ACA regulated purchasing options for individuals shopping for health insurance plans. Advocates say sidestepping the ACA marketplaces will free payers to offer lower priced plans that do not comply with ACA protections, while critics say the move is aimed at gutting the ACA individual marketplaces of the younger, healthier demographic needed to sustain a market.
At its annual user conference, Cerner’s President Zane Burke announces that CommonWell services will remain free to Cerner clients for an additional three years, through 2020. The network now holds 60 million patient records.
Doctors Feel Excluded from Health Care Value Efforts
A Harvard Business Review article by two Bain & Company’s healthcare partners argues that providers are not eager to embrace alternative payment models because they have been routinely excluded from the decision-making process.
I wish it was possible to short private companies somehow…seriously I’m open to suggestions. I never understand how these crappy HIT startups get these massive valuations roughly in the same neighborhood as Epic’s valuation and Cerner’s market cap. $5 billion for a company that plays ads in waiting rooms…? In a day and age when we’re developing analytics and patient access tools so that patients spend as little time as possible in waiting rooms? Or maybe the future of healthcare delivery will be like Hulu. Monthly premiums + watching 90 seconds of ads before you can see your provider.
Or a 500B valuation to fb that plays unhealthy options each hour of the user’s life.
Wake up and smell covfefe….