July 27, 2020
The second order effects of the pandemic are becoming clearer, even as the second wave of infections begins to sweep across the country, and school districts agonize over the best way to reopen for the coming academic year. A recent survey by the AHA suggests hospital profit margins could slip into as much as negative 7% by the last quarter of this year. And it’s not just hospitals. The looming crisis in primary care, as primary care doctors temporarily close down practices and furlough staff, could have serious consequences for public health.
Can telehealth be a long-term solution for the gaps in primary care brought on by the pandemic? In a guest piece in Health Affairs, CMS administrator Seema Verma acknowledges that telehealth is now an important source of care in the country, however it will never replace the gold standard in-person care. Telehealth has some serious limitations when it comes to rural, indigent and elderly populations, not to mention that certain types of care simply cannot lend themselves to telemedicine.
Further, the lower total levels of reimbursements for telehealth fail to consider all the costs of an in-person visit leaving hospitals with difficult choices and big revenue gaps to fill. Industry groups have been advocating that telehealth reimbursement rules be made permanent, a need that administrator Verma acknowledges.
The role of technology continues to grow in the gradual transformation of healthcare enterprises in the wake of the pandemic. We include insightful case studies from two NYC health systems, and a guest piece by Marc Harrison, the CEO of Intermountain Health, on the learnings from the pandemic.
Stay safe. Wear a mask.
Digital transformation in healthcare: our picks for the week
According to an analysis by the American Hospital Association, the COVID-19 pandemic has created financial challenges for hospitals and health systems.
“Harness technology more aggressively” and other learnings from the pandemic by the CEO of Intermountain Healthcare.
CMS head Seema Verma shares insights from internal analysis of telehealth visits across the country. Must-read.
The pandemic’s economic fallout on healthcare professionals which could have long-term consequence for public health.
Experts at this week’s Telehealth Innovation Forum urged health systems to consider how different vendors might meet their unique needs.
A case study that highlights the benefits of leveraging informatics and collaboration within and across health systems as well as public health agencies.
Daniel Barchi, Group SVP and CIO of NewYork-Presbyterian talks about how the health system made swift changes that enabled new technology capabilities to coordinate the influx of patients and community inquiries and the next IT investments.
Note: Some of the articles linked in this newsletter may be behind paywalls that need a subscription
The latest from Damo Consulting
“Emerging healthcare technologies will enable higher level of care delivery with fewer resources.”
This paper provides best practices for a successful healthcare digital transformation in a post-COVID-19 era.
Our latest white paper contains a detailed summary of the Interoperability and Patient Access Final Rule and the 21st Century Cures Act, along with technical and implementation standards.
A review of the financial and market performance of global technology consulting firms in healthcare.
A complimentary e-book on highlights of the COVID-19 CARES Telehealth Program by FCC.
The WITCH Monthly Monitor (June) – Our monthly update on major global IT consulting and services firms in healthcare provides latest financial and market performance updates on WITCH companies along with other global IT consulting firms.
* The WITCH Monthly Monitor is now available as free 1-year subscription with every purchase of The WITCH Report – Annual Review ($395).