Monday Morning Update 11/20/23

Top News

NextGen Healthcare files WARN documents indicating that it will lay off 84 employees it St.Louis in the first months of next year.

Meanwhile, executives who are cashing in on the November 10 sale of the company to private equity firm Thoma Bravo by selling shares include President and CEO David Sides ($15 million), CFO James Arnold ($12 million), and board member Srinivas Velamoor ($9 million).

Reader Comments

From AnInteropGuy: “Re: Veradigm. Continues to miss their filing deadlines and met with NASDAQ about the delisting situation — no news on how they will rule — but they have not been able to restate any of the questioned quarters. Leadership continues to say ‘very close’ but the remains substantially quiet on what the timeline looks like. Their last claim in September was that they would file by early November ahead of the NASDAQ meeting. That was before the announcement of the delisting notice so they had been made aware that they were facing delisting. They are still trying to gather contracts, payments, etc for the previous quarters and years — now apparently reaching all the way back to 2015.” A final SEC de-listing hearing was held on Thursday, but the decision hasn’t been announced. I don’t know the extent of accounting work that is required, but it seems strange that a publicly traded company whose shares are about to be de-listed can’t muster the resources, as other firms have done, to meet ASC 606 revenue recognition requirements. As a skeptic, I wonder if other motivations may be in play.

From Epson: “Re: Forward Health’s CarePod. I’m interested in predictions.” OK, here’s mine: (a) the company will deploy less than 250 devices versus its 3,200 goal; (b) issues with maintenance, limitations of the clinical model it was developed around, and lack of member loyalty will stall rollouts and raise questions about the viability of that business; and (c) Forward will try yet another pivot and the CarePods will move from malls to landfills given that no other company would have a use for them. I could be wrong, but Forward Health’s core business doesn’t seem to be sound enough to warrant gadgetary distraction, not to mention that as an N-of-one analysis I can’t see myself paying for such a service as described.

HIStalk Announcements and Requests

Poll respondents report seeing diminished influence across many of the newly established C-level technology roles within healthcare systems. What’s your experience with these positions being eliminated or downgraded? A LinkedIn wizard could probably find examples.

New poll to your right or here: Who is most likely to disrupt the US healthcare system to benefit patients?

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Webinars

None scheduled soon. Previous webinars are on our YouTube channel. Contact Lorre to present or promote your own.

Acquisitions, Funding, Business, and Stock

Digital staffing platform vendor Aya Healthcare acquires Winnow AI, which identifies physicians who are open to new positions and relocation who match open roles.

Mass General Hospital and Brigham and Women’s announce that they cannot accept new primary care patients because their appointment waitlists are months long.

Children’s Hospital of Philadelphia, Stanford Health Care, and Children’s Medical Center of Dallas implement Wolters Kluwer’s Ovid Synthesis for evidence-based practice workflow applications.

Open AI’s board fires high-profile co-founder and CEO Sam Altman for unspecified reasons in a surprise announcement that wasn’t shared in advance with investors such as Microsoft, which owns 49% of the company. The rumored issue was product safety versus profit and Altman’s work to raise funds to create AI hardware companies outside of OpenAI’s non-profit oversight. Greg Brockman, co-founder, president, and board chair, was removed from the company’s board and then resigned. Several senior scientists also quit. The blowback has reportedly convinced the board to negotiate for Altman’s return, although he says he’s not that interested and would require significant governance changes to return. Meanwhile, the action that has likely cost Open AI much of its $80 billion valuation and the confidence of developers who use its products has also resulted in speculation that Altman and the other departed executives will immediately start a competing company, along with speculation that Microsoft should save OpenAI by buying the rest of it.

People

Lynsi Garvin, MSN, RN (Google Health) joins Intermountain Health as associate chief clinical information officer.

Adrienne Morrell (SCAN Health Plan) joins MRO Corp. as VP of governmental affairs.

Announcements and Implementations

Oracle will hold a one-day health summit on February 13 in Nashville, where the company is significantly expanding.

A new report from Center for Connected Medicine at UPMC finds that the patient engagement potential of health system-owned ambulatory pharmacies is being threatened by drug chains and technology firms that offer more convenient and innovative services and digital tools. Top operational challenges are 340B limitations and staffing issues, while the biggest consumer issue is lack of physical accessibility due to location, lack of transportation, and limited hours of operation. Top tools include delivery service and text-based refill reminders, while telepharmacy kiosks and self-pickup lockers have low interest.

Government and Politics

Memorial Hermann Health System and Texas Attorney General Ken Paxton settle the AG’s investigation into reports that its patient portal could not be accessed by the parents of patients aged 13 to 17. Texas law gives parents and legal guardians the right to access the medical records of their children except in specific circumstances where the child can indicate that they don’t want their information shared. The health system agreed to provide better instructions for accessing family records on its patient portal and also cited its planned migration to Epic.

Other

Federal Trade Commission Chair Lina Khan, JD says that she has used ChatGPT to contest questionable medical bills. She didn’t say how she used it specifically, but ChatGPT suggests that it can provided detailed breakdown of charges, explain how insurance applies, identify discrepancies, offer negotiation tips, and draft appeal letters.

The Madison paper covers Nurse Disrupted, which offers a virtual nursing platform. The founder and CEO of the eight-employee company is Bre Loughlin, MS, RN, a former bedside nurse and Epic executive.

Sponsor Updates

• Vyne Medical publishes a case study titled “Cloud Fax Reduces IT Burden for Large Health System.”
• Mobile Heartbeat publishes a new customer success story featuring Henry Mayo Newhall Hospital.
• Lucem Health will incorporate AccurKardia’s ECG interpretation software into its Reveal solution to identify high-risk patients.
• NTT Data publishes a new report, “Innovation Index: How North American Organizations are Achieving Growth, Value, and High Performance.”
• Nordic releases a new Designing for Health Podcast, “Interview with Margaret Lozovatsky, MD.”
• PerfectServe congratulates customers Elmhurst Hospital, Beverly Hospital, and UNC Health Rex on receiving 24 consecutive “A” grades for safety from The Leapfrog Group.
• SmartSense by Digi’s second annual Live23 user conference sees a 300% increase in attendance year over year.

Blog Posts

• Overcoming 3 top workforce challenges driving RN turnover (Inovalon)
• Caring for the Caretakers: An Interview with Medhost SVP of Human Resources, Carla Stephenson (Medhost)
• Using Automation to Improve Payer Collaboration: On Air Insights (MRO)
• Intelligent patient experiences, part 4: How effectively can your clinicians manage patient care? (Nuance)
• How to Improve Compliance Processes in RCM with Transparent Medical Coding Automation (Nym Health)
• Beyond Gratitude: Ozark Center’s Transformative Impact on Veterans’ Lives (Netsmart)
• Empower with ServiceNow Knowledge (Optimum Healthcare IT)
• Empowering Community Health and Revenue Growth: The Test and Treat Advantage for Pharmacies (OmniSys)
• Six reasons to consider cloud migration (Rhapsody)
• Biosimilars are Changing the Game (Surescripts)
• The Evolution of the CMIO Role in Hospitals & Health Systems (Symplr)
• Finding a Way: The ABC Act’s Aim for Easier Access to Caregiving Resources (Trualta)
• Don’t Miss the Opportunity: G2211 Primary Care Add On Payment in 2024 (VisiQuate)
• From Exhaustion to Empowerment: How to Alleviate Patient Burnout in Healthcare (Vyne Medical)
• Ensure Successful Service Desk Partnerships with Preparation (CereCore)

Contacts

Mr. H, Lorre, Jenn, Dr. Jayne.
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