Re: "People preferred the [patient] portal over the telephone for getting test results, updating personal information, getting medical records copies,…
Monday Morning Update 5/23/22
The state of Montana will invest $20 million in the Big Sky Care Connect HIE, which will fund improvements to the state-designated HIE that include a clinical data repository, ADT alerts, a quality measurement program, and image exchange capabilities.
BSCC’s members include 75 provider organizations and half of the state’s hospital systems.
From Preferred Investor: “Re: Cerner. Could stock market conditions cause Oracle to reconsider its acquisition?” I don’t know enough to comment beyond restating known facts. ORCL is paying $95 per share in cash, and of course CERN shares haven’t budged from that price in the mean time since everybody knows the eventual payoff. ORCL shares are down 23% since the deal was announced December 20 versus the S&P 500’s 15% drop. Oracle’s tender offer expires on June 6 after being extended a few times. The deal requires Cerner to pay Oracle a $950 million termination fee under certain circumstances, but I don’t know what if anything happens if Oracle reconsiders. I’ll invite experts to weigh in.
From Ballywood Man: “Re: [company name omitted]. Getting out of the North America provider market due to diminishing success, will focus on life sciences, pharma, and payers / insurers. They ran into issues providing competitive offshore services for Cerner and Epic customers and accounts are managed by people who came through the IT ranks and know nothing about healthcare solutions as required for consultative selling. Senior sales and consulting leadership has been RIFed. “ Unverified, so I’ve left out the name of the publicly traded company. Reports are welcome. The RIF must have been recent since I see no LinkedIn changes for the executives listed.
HIStalk Announcements and Requests
Few poll respondents see Epic as being better without Judy Faulkner. Sam observes that, like Amazon, changing CEOs shouldn’t trigger major changes since Epic’s culture is wide and deep. IIRC differs, providing examples where the departure of larger-than-life leaders has a negative company impact (giving as examples Meditech, Cerner, GE, Microsoft, and Chrysler). Others are confident that Carl Dvorak has been running the company with Judy and can easily take over, especially given the extensive succession planning that Epic has been performing for decades.
New poll to your right or here: What impact will a stock market downturn have on health IT?
Listening: Aeon Station, basically a solo project of the former co-leader of the Wrens, a band I’ve liked for years. Indie rock, especially the melodic and thoughtful kind, has been somewhat lost in a sea of vapid hip hop collaborations and diva-led formulaic hit factories, so this mature, low-tech alternative sounds fine to my ear. The duct tape that holds Kevin Whelan’s bass guitar together deserves a liner note.
Welcome to new HIStalk Platinum Sponsor Juniper Networks of Sunnyvale, CA. Juniper Networks empowers healthcare IT leaders to deliver simplified experiences for those who run networks and the patients, clinicians, and staff who depend on them. Our solutions deliver industry-leading insight, automation, security, and AI for improved IT operations resulting in better experiences and health outcomes. Thanks to Juniper Networks for supporting HIStalk.
I found this Juniper Networks YouTube video that features Northeast Georgia Health System CIO Chris Paravate, MBA talking about the health system’s AI-powered clinician mobility strategy.
May 25 (Wednesday) 2 ET. “Leveling Up Your Defenses: Health IT Security and Risk Management.” Sponsor: Intelligent Medical Objects. Presenters: Lori Kevin, VP of security and enterprise IT, IMO; Nicole Pearce, JD, associate general counsel, IMO. The presenters will explain how to fortify security and respond to current threats by establishing security frameworks and managing risks introduced by ransomware attacks, breaches, and phishing schemes. They will describe the drivers of IMO’s privacy and security program, objectives for continuous review of risk management, and the framework for implementing an incident response program.
Previous webinars are on our YouTube channel. Contact Lorre to present your own.
Acquisitions, Funding, Business, and Stock
“Venture Valkyrie” Lisa Suennen applies her experience from the dot-com bust and 2008 stock market correction to predict how recent market drops might affect investors and startups:
- A venture capital downturn lags a stock market decline by 3-6 months.
- The lack of a healthy IPO market means private companies can’t go public and can exit only by selling out. VCs take advantage of the situation by making lowball offers.
- Publicly traded potential acquirers pass on deals involving companies that will dilute their earnings per share, which includes most startups.
- Cash-heavy venture funds will hoard the best deals and lead “down rounds” in investing at lower valuations, damaging smaller, capital-poor funds that can’t afford to meet term sheet requirements of making ongoing investments.
- Companies with less funding or less-resourced investors have to keep the company going to avoid a downward spiral of lower valuations, trading “growth at all costs” for cost-reducing survival mode where company fundamentals suddenly matter.
- Capital-rich funds get to buy later-stage companies at lower valuations.
- Angel investors head for the exits “when the drain is working faster than the tap.”
Interoperability vendor Health Gorilla hires Derek Plansky, SM (Informatic Ideas) as SVP of product.
The HCI Solution promotes Dan Collins to EVP.
Care New England Health System CIO Phil Kahn, MS, MBA retires this week.
Announcements and Implementations
Integrated healthcare payments and security software vendor Sphere launches a plug-and-play payment solution, which integrates with PAX terminals, for independent software vendors that offer SaaS products.
A survey of medical students in German-speaking countries finds that while most received some form of rapidly implemented digital education during the pandemic, they didn’t like the lack of patient contact, in-person case studies and discussions, and studying PowerPoints and PDFs alone without instructor interaction. The students suggest that medical schools expand their use of online office hours, faculty Q&A sessions, and simulations and virtual reality.
A Michigan law that takes effect next year will require health plans to take action on urgent prior authorization requests within 72 hours, although a Blue Cross Blue Shield Association VP says that electronic prior authorization holds the most promise for reducing delays, citing a pilot project in which decision time was reduced 69% to six hours.
Former Vanderbilt University Medical Center ICU nurse RaDonda Vaught, who killed a patient in 2017 by giving the paralyzing agent vecuronium instead of the ordered sedative Versed, is interviewed by ABC News following her sentencing to probation:
- VUMC settled with the patient’s family without reporting the error to state and federal officials as the law requires.
- Vaught says she performed manual overrides of the drug dispensing system and ignored several warnings because she was training a new nurse and was distracted.
- Her attorneys say VUMC bears some responsibility because it allowed her to override warnings and a CMS investigation noted some deficiencies, although VUMC was not punished.
- Vaught concludes, “There’s a fine line between blame and responsibility, and in healthcare, we don’t blame. I’m responsible for what I failed to do. Vanderbilt is responsible for what they failed to do.”
- ZeOmega integrates Change Healthcare’s clinical guidelines into its new Smart Auth Gateway electronic prior authorization solution.
- Experity’s EHR/PM software has been recognized with a 2022 MedTech Breakthrough Award in the best practice management solution category.
- CarePort releases its “Evolution of Care” report.
- Arcadia wins the KLAS 2022 Points of Light award for its collaboration with Community Health Plan of Washington.
- Olive has invested in Miami University’s College of Engineering and Computing to expand its healthcare research capabilities.
- The HIT Like a Girl Podcast features PeriGen CNO Alana McGolrick.
- The VA’s Cerner-powered Opioid Advisor wins FedHealthIT’s innovation award.
- Drug Store News LexisNexis Risk Solutions, OmniSys, and Surescripts with Retail Excellence Awards in the technology and automation category.
- Wolters Kluwer Health Director of Clinical Sales Support Karen Eckert wins the National Council for Prescription Drug Programs’ Benjamin D. Ward Distinguished Member Award.
- HFMA’s Voices in Healthcare Finance Podcast features VisiQuate EVP of Product Management Anthony Comfort.
- Your Business is NOT Data Illiterate! (Clearsense)
- 4 Healthcare Transaction Trends to Know (BDO)
- Inefficient Access Pathways Cost More Than Just HCP Time and Effort (OptimizeRx)
- Digital communication tools can break down language barriers in healthcare (Olive)
- Nurses of Note Awards 2022: The Nurse Informatics Team at Mecklenburg County Public Health (PerfectServe)
- Healthcare Supply Chain Software Improves Providers’ Work, Promotes Partnership (Symplr)
- Improving HCC Coding Accuracy with Stanson Health’s PINC AI clinical decision support at Bon Secours Mercy Health (Premier)
- Determined to Deliver (Protenus)
- Straight talk on remote mental healthcare (Redox)
- Now is the Time for Health Tech to Capitalize on Legislation Moves (RxRevu)
- Understanding the impact of objective, automated evaluation of mammograms (Volpara Health)
- 5 Things to Look for in a Modern EMR Platform (WebPT)
- CIO Top Priorities: Embracing Digital Transformation in Healthcare (Well Health)
Mr. H, Lorre, Jenn, Dr. Jayne.
Get HIStalk updates.
Send news or rumors.
“Her attorney’s say…”
Thanks – fixed.
Since we now have the term “Venture Valkyrie”, the naming limitations have clearly been blown off and I believe we need to enrich the aspirational alliterative wordsphere ecosystem:
See also every Ubuntu distro name for the last 20 years.