This Week Health

Today: Is This the Tipping Point? Best Buy - Mass General Brigham

Is this the tipping point or just another deal?

Transcript

Today and outside of T we're going to take a look at the best by mass general Brigham. Partnership to expand healthcare at home and ask the question. Is this the tipping point? Is this where we start to see. Hospital at home healthcare at home become more the norm in terms of the strategy. Here we go.

My name is bill Russell. I'm a former CIO for a 16 hospital system and create, or this week health, a set of channels and events dedicated to transform healthcare. One connection at a time. We want to thank our show sponsor, shore investigating, developing the next generation of health leaders. Short test artist site parlance. Certified health, notable and service.

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They can subscribe wherever you listen to podcasts. All right. I'm looking at this story. It's in Forbes. And this was contributed by sushi. Thank you, Sue, for being a curator on our site. Best buy health and mass general Brigham strike landmark partnership to expand health care at home. Let me give you a little bit of what's going on here too. Names and their respective industries best buy health and mass general. Announced today that they are collaborating to expand. Healthcare at home services using technology driven care model. The initiative aims to address increasing patient demand for more convenient access to care while alleviating growing workforce shortages and improving health outcomes.

One of the key drivers, and by the way, that's that last sentence is key, right? So more convenient access to care, alleviating growing workforce shortages and improving health outcomes. Those are the three drivers that are looking for. One of the key drivers for the collaboration is to help expand MTV's home. Home hospital service. And already established acute care model that enables patients with serious conditions, such as COPD and heart disease to receive short-term inpatient level care at home. Specifically the program offers daily in-person and virtual visits. 24 by seven access for your phone. In video, remote monitoring services and even diagnostic testing capabilities.

This in addition to NGBs home care service. Don't be deceived by this paragraph. When they say an already established service, they're not good at it. And I know somebody from MGBs listening to this right now going, oh no, we are good at it. Yeah. You're good at it. You can't scale it. It's hard to do.

This is one of the reasons you strike a deal with a best buy health. It's one of the reasons I recommend, and they're not a sponsor. I recommend that organizations like health systems look at someone like a best buy health because they have the wherewithal to go into patient's homes. They go into. Into patient's homes all the time to install speakers and TVs and washers and dryers and that kind of stuff.

They have the mechanism for doing that. They have the staff for doing that. That is not to be minimized. That in, in addition to the fact that best buy is thinking about this remote patient monitoring this home care. On an ongoing basis, why are they doing that? They have acquired companies like current health. And they, they offer remote Patient monitoring telehealth services and those kinds of things. And some others. They have lively and some other devices.

That they've bought into. So they are thinking about this everyday. How do we go into the home? How do we collect this data? How do we create more data points, more touch points. For the clinician and for those clinicians who don't want more touch points, how do we move that data and that information through AI and machine learning algorithms in order to again, get through the signal and the noise and just. Get to the signal and to. Start predicting outcomes, start to do interventions, early interventions in things as you're seeing them.

I, by the way, this is to me, I think this is a seminal woman. I think this is a big. Deal at MGB and a. And best buy have done this deal. I think it's signals. A mind shift in this mind shift is one where we are not thinking about beds within the four walls of our hospitals. We're not counting the number of beds. Instead, we're counting the number of beds in our community and saying, what percentage of those beds are we overseeing?

If the average number of beds in the home is three. Then how many of those beds are covered by MGB? How many of those are covered by the local health system? And that's what I think needs to be the progression here. All levels of acuity being being supported by the health system becoming the trusted partner, aimed care for all the beds in their community, either receiving if they're somebody who's young and doesn't have a lot of conditions. Either receiving that, that telemetry data from the mass number of devices that are out there today. Your your light glucose, your scales, your your I dunno, blood. Blood pressure cuffs and those kinds of things. Or potentially it's just the iPhone or the aura ring or that kind of stuff. But essentially we're running that all through the local health system that is then taking it through algorithms and then providing back to them the kind of care that we would expect from a trusted partner, like an MGB or others.

I think this is a big. Change from a strategy standpoint. I think it's the way that a health systems in short their relevance into the future. Yes. They will always be the acute care setting that people go to. But their relevance in terms of health, I think it's important that they establish this one-to-one relationship with the bed, with the person in their home easy access, better outcomes, and those kinds of things. I think you're going to see a best buy, continue to make these kinds of deals.

I was looking at their stock price. Today is up 5%, 6%. In the last 30 days, I think this is the culmination of their move to becoming a healthcare company. You're starting to see sales come out of it. There was a lot of investments made and now you're starting to see sales come out of it. I think when health systems start to look at this and how to expand this, they're going to realize that they don't have the wherewithal and the capability to go into homes. A best buy does. And this service will continue to grow.

So that's my 2 cents. I think it's a, I think it's an exciting time to be a patient. We will see how this plays out. I think this is a positive and I hope to see more of these in the coming year. All right. That's all for today. That's all for this week. Don't forget. Share this podcast with a friend or colleague.

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