Monday Morning Update 12/2/24

Top News

Business Insider reports that many digital health startups are cutting their valuations, shutting down, or being quietly acquired for parts after raising no new venture capital since the ZIRP heyday of 2021.

Venture capitalists provided bridge funds in helping their startups reach their next funding round, but have lost patience with those that haven’t performed as expected, choosing instead to put their money into AI startups.

The author says that quite a few health-related business that stalled at seed or Series A rounds have shut their doors with little attention.

Reader Comments

From Whaleback: “Re: HIS-tory. Folks on the former Cerner Reddit are looking for Vince Ciotti’s industry history and how Cerner’s acquisitions may have created a confusing patchwork of Millennium functionality.” Vince’s fascinating HIS-tory that I ran many years ago contains health tech’s early lessons that can be learned the easy way (by reading) or the hard way (by repeating those same mistakes). Vince retired from his 50-year health IT career in 2019 and died in 2021. He said in our 2019 conversation that he hoped to be remembered for his HIS-tory above all else. Click the graphic to see Vince’s recap of Cerner’s acquisitions, and if you open the big HIS-tory file, be aware that some PDF readers work better than others.

HIStalk Announcements and Requests

Poll respondents overwhelmingly named emergency response time as their biggest fear of hospital-at-home treatment.

New poll to your right or here: How will HHS change under the new administration? I’m not encouraging political conversation, but rather seek predictions of how companies and consumers will fare under expected new priorities and leadership. As a reminder, HHS runs a $2 trillion annual budget and includes CMS (Medicare), CDC, FDA, NIH, the Public Health Service, HHS OIG, AHRQ, Office for Civil Rights, and ASTP. 

Pondering: do RSNA attendees ever get to eat leftover turkey sandwiches?

I’m winding down my use of X in favor of Bluesky (you can follow me here), so as a noob who initially thought Bluesky was an unfamiliar ghost town even though it has 24 million users, I’ll offer some tips on what to do after opening an account. Add your own tips via a comment if you like.

• Choose a few X accounts that you like and follow them on Bluesky if they are there, which trains Bluesky’s algorithm to understand what you like. Commenting, liking, reposting, and quoting helps build your connection list and get more Bluesky participation.
• SkyBridge helps you find and follow your X connections, although I haven’t tried it.
• Click Profile on the menu bar to the left, then click Edit Profile at the top of your feed to add a display name, description, and an image. Otherwise you won’t get followers because nobody will know who you are. Some of my new followers are listed with the default profile of “johnsmith.bsky.social” without a display name or description, so add those to get more followers.
• Create custom feeds by clicking the #Feeds menu item, then look for new feeds that mirror your interests. Click the plus sign to follow them, which will then add them to the top of your feed as clickable options. For example, I added Popular with Friends, Mutuals (posts from fellow users who have followed you back), and News.
• Find another user’s relevant Starter Pack or search the 40,000 available ones. Click a starter pack to connect with all of the users it lists.
• Click the Notifications menu item to see who has recently followed you. Follow them back to expand the network.
• Click the Settings menu item and then Sort Replies to choose oldest, newest, most-liked, or random.
• Click the Settings menu item and then Moderation to filter posts by words, tags, or adult content. I need to figure out if this can be used to hide follower posts that relate to sports, politics, and pets.  
• Click the Settings menu item, then Content and Media to enable media players such as YouTube.
• Enjoy ad-free, bot-limited quiet and thoughtful conversations that aren’t pushed in your face by a profit-driven algorithm while simultaneously lamenting that bot farmers and trolls have discovered Bluesky just like everybody else.
• My wish list for Bluesky includes an easier verification process (fake accounts are already proliferating); and a native IPad app.

Welcome to new HIStalk Platinum Sponsor TeamBuilder. TeamBuilder is the first predictive staff scheduling platform built specifically for ambulatory care. Staffing in ambulatory care is fundamentally complex, with fluctuating patient demand, varying specialty needs, multiple locations, and diverse staff preferences. Yet, 95% of ambulatory organizations still rely on outdated paper or Excel-based scheduling, which makes it difficult to optimize staffing effectively. This results in costly overstaffing, administrative inefficiencies, and a lack of visibility into critical operational metrics, such as cost per visit. TeamBuilder transforms this process by using predictive technology and advanced data science to deliver real-time, optimized schedules that meet both patient demand, clinical workflow and staff availability, ensuring the right staff are always in place. With TeamBuilder, you gain more than just a smarter scheduling tool— you unlock the ability to reduce staffing costs, improve patient access, eliminate administrative inefficiencies, and gain deep visibility into your operations. With TeamBuilder, you’ll always know exactly who you need today, tomorrow, and next month –empowering you to make smarter, more strategic decisions. Let TeamBuilder help you reimagine staff scheduling. Thanks to TeamBuilder for supporting HIStalk.

Here’s a TeamBuilder intro video.

Webinars

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

Acquisitions, Funding, Business, and Stock

Canada-based practice management software vendor Practice Better raises $13 million in growth capital.

Radiology platform vendor Sirona raises $42 million in a Series C funding round.

The Winston-Salem paper notes the 2023 compensation of top executives of Novant Health, which includes EVP/Chief Digital and Information Officer Onyeka Nchege at $947K in total compensation.

Sales

• Trinity Health will implement the cloud-based Visage 7 enterprise imaging platform in a $215 million, 10-year contract.
• NYU Langone Health, which was the first on-premise customer of Visage Imaging, extends its contract in a $24 million, five-year deal to implement the company’s full stack in the cloud.

People

CTG promotes Chad Alessi, MS, MBA to managing director of cybersecurity. He is a US Marine Corps veteran.

Health Systems Informatics promotes Joe Ranieri to VP of business development.

Brian Roy, MBA (Simplify Healthcare) joins Zyter TruCare as VP of sales.

The Garage In hires Stacy Fox (Acclivity Health Solutions) as SVP of market development and growth.

Announcements and Implementations

LGI Healthcare Solutions launches a healthcare workforce management platform for the Canadian market.

Government and Politics

The CEO of a bar association for Social Security attorneys and Epic’s policy team leader Ladd Wiley, JD describe how Epic’s integration with the Social Security Administration’s IT systems supports timely disability determinations. Epic facilitated the exchange of 2.5 million patient records between its hospital clients and SSA last year. However, the authors note that only 15% of disability claims are reviewed using data obtained via EHR interoperability, with the rest being managed by mail and fax. They recommend that TEFCA be expanded to include use cases involving government benefits determinations.

Privacy and Security

Texas Governor Greg Abbott threatens to end state funding of Texas Children’s Hospital because one of its cardiologists posted a TikTok video advising patients that while the hospital is required to ask their citizenship status based on Abbott’s November 1 executive order, those patients are not required to answer.

Other

Dean Sittig, PhD and Hardeep Singh, MD, MPH publish a JAMA viewpoint piece that makes recommendations for healthcare organizations to ensure the safe implementation and use of AI in clinical care, emphasizing the need for governance, real-world testing, clinician and patient engagement, performance monitoring, and risk mitigation to prevent harm and improve outcomes.

Multiple authorities in Sweden are investigating reported problems with the newly rolled out Oracle Health Millennium in the Västra Götaland region. Clinicians and other users in western Sweden reported significant problems with the $190 million project, some of them reportedly placing patients at risk.

New Mexico jurors award an all-time record $412 million malpractice judgment against a multi-state men’s health clinic. The lawsuit was filed by a 66-year-old man who visited one of the facilities complaining of fatigue and weight loss, for which he says the clinic ordered thrice-weekly penile injections for erectile dysfunction that caused damage. NuMale Medical Center offers hard-sell treatments for ED, premature ejaculation, hair restoration and transplants, testosterone replacement, and weight loss. 

Sponsor Updates

• CereCore releases a new case study, “Oklahoma Heart Hospital: Partnership for Interface Optimization.”
• The Digital Health Hub Foundation names Linus Health the 2024 Longevity Best in Class winner of its Digital Health Awards.
• The CH Béziers hospital in France will adopt Sectra’s digital pathology solution.

Blog Posts

• Use the “Holiday Diet” to Trim Your Clinical Productivity Variances (Impact Advisors)
• Navigating the CMS 2025 Physician Fee Schedule Final Rule (MRO)
• Future-Proofing Your Public Health Programs: Top 5 Things to Consider (Netsmart)
• How to improve bedside handoffs with digital whiteboards (Sonifi Health)
• Striking Gold: How Washington State is Empowering the Care Team Evolution (Surescripts)
• Unlocking Efficiency and Profitability with End-to-End Revenue Cycle Management (TruBridge)

Contacts

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