Monday, October 19, 2020
Richard the Third, in the famous play by Shakespeare, begs for a horse after his own falls in the battlefield leaving the king at the mercy of his enemies. The marketplace has been at the mercy of COVID-19 this year. Healthcare enterprises as well as tech firms are pursuing growth at all costs today as their core businesses feel the pressure of fundamental shifts in the demand environment.
This past week, patient survey company Press Ganey acquired Doctor.com, a provider directory company, and took a majority stake in Binary Fountain, a company that aggregates patient ratings from multiple online platforms that providers like Providence Health use for reputation management (see this article I wrote in CIO on this topic a while back).
In an opposite move, big blue IBM decided to spin off its IT infrastructure services business in a split that it hopes will make the sum of the parts bigger than the whole. The parallels with what one-time tech giant HP went through in the last decade are too obvious to ignore.
Last week, Providence Health launched Tegria, a technology services business that hopes to serve its peers in the healthcare sector. The business combines several technology consulting businesses that Providence has acquired over the years. This will not be a first for Providence – it has followed a strategy of incubating and launching unique digital health businesses (Xealth and Dexcare). However, IT consulting is a crowded and extremely competitive space and it will be interesting to see how Providence approaches this market.
I sat with Healthcare IT news editor Mike Milliard this week to talk about my book. We covered a range of other topics related to healthcare tech and digital transformation. Check it out.
My latest podcast guest, Dr. Stephanie Lahr, CIO and CMIO of Monument Health in South Dakota, states that health systems need to go beyond optimization and focus on transformation today. Take a listen.
P. S. We’re still on the Amazon bestseller list! Due to the surging demand, my book, Healthcare Digital Transformation, is frequently sold out on Amazon. You can obtain signed copies at the link below. I am also accepting speaking engagements for your in-company and user group events on the book themes and our recent research. Drop a line to firstname.lastname@example.org for more details.
Stay safe. Wear a mask.
Podcast of the week
In this episode, Dr. Stephanie Lahr, CIO and CMIO of Monument Health, discusses how as a community-based health system, they transformed their healthcare delivery in a short time during the pandemic.
This Week in Digital Health Markets
We are selectively featuring guest posts in our newsletter from senior leaders in healthcare and technology. Reach out to us if you would like to contribute a blog to one of our upcoming newsletters.
Paddy Padmanabhan discusses his new book, the pace of digital transformation, and the role of emerging tech in this extensive interview with HIMSS. Healthcare IT News
Allscripts announced the execution of a definitive agreement to sell its CarePort Health business to WellSky Corp, a global health and community care technology company. WellSky is jointly owned by two of the world’s largest private equity firms, TPG Capital and Leonard Green & Partners. Allscripts Newsroom
IBM is spinning off its IT infrastructure services businesses and trying to inject growth after a lost decade during which the 109-year-old company fell behind rivals. The Wall Street Journal
Press Ganey, a care-quality services firm known for distributing patient satisfaction surveys, acquires Doctor.com to combine patient feedback and online acquisition into a single digital platform. MobiHealth News
Providence Health is aggressively monetizing its internal capabilities. The latest is anew company, Tegria, launched by Providence to provide next generation technologies and services to the health care sector. PR Newswire
Epic CEO Judy Faulkner offers her perspective on how the company has responded to the COVID-19 crisis and describes some of the lessons learned in this piece. Healthcare IT News
The EHR giant Epic, will use the InterSystems IRIS Data Platform beginning with the August release of its EHR, the Cambridge, Massachusetts-based technology provider. The IRIS platform will allow Epic customers access to larger data sets and provide enhancements in asynchronous mirroring. Healthcare IT News
The deal will offer a longitudinal relationship between clinicians and patients, bringing doctors, digital tools and data science together for better health. Healthcare IT News
Covid-19 pandemic has spurred fresh competition among remote-care providers. Teladoc Health Inc. sued rival American Well Corp. for alleged patent violations related to technology behind robot-like carts that connect hospitalized patients with specialists in real time via video. The Wall Street Journal
Health benefit costs are expected to accelerate next year compared with 2020. The Wall Street Journal
Chart of the Week
Damo Consulting Thought Leadership and Research
A mid-year review of the financial and market performance of global technology consulting firms in healthcare.
The WITCH Monthly Monitor (August) - Our monthly update on major global IT consulting and services firms in healthcare provides the latest financial and market performance updates on WITCH companies along with other global IT consulting firms. *WITCH Monthly Monitor is now available as a free 1-year subscription with every purchase of The WITCH Report.
Paddy Padmanabhan with host Mike Miliard on HIMSSCast discussing his new co-authored book – 'Healthcare Digital Transformation', the lessons therein, and other emerging technology trends in healthcare, including patient engagement and the evolving role of the electronic health record. Listen here.
Our CEO Paddy Padmanabhan is a keynote speaker at the third annual healthcare cybersecurity conference- Paubox SECURE @ Home. Listen and learn ‘how consumerism, technology & the pandemic are accelerating digital transformation.’ Event details: Wednesday, Oct 21 at 1:30 PM PDT. Register here.
This ebook is a snapshot of the more detailed whitepaper ‘Interoperability and Patient Access: what it is, who gets impacted, and how to plan for the future.’