"Technology debt," compromising IT infrastructure due to underfunding and investment compromises, causes operational issues over time. In health systems, tech debt may lead to massive downtime costs, budget overruns, and compromised efficiency. Addressing tech debt necessitates comprehensive assessment, business-focused approach, regular budget allocation, and possibly switching to new technology stacks. Regained control over tech debt allows organizations to refocus tech resources on value creation for employees and patients.

The 18 health systems Walmart sends its employees to for care in 2024

Feb 26, 2024Beckers Hospital Review

Walmart curbs health costs, directing 1.6 million employees to Centers of Excellence, high-quality care providers. Program covers travel, treatment costs; works with predefined, contracted providers. Employers reimbursed via bundled payments. Plans include referral to 18 health systems/providers in 2024.

Will AI Replace Healthcare Workers? No, But It Will Turn Them Into Tech Workers

Feb 25, 2024sxsw.com

AI will change healthcare workers into tech workers soon, need new education model. Skills transformation creates AI-powered organization. Panel discussion to inform skills, education evolution and implications for patients. Beneficial in developing future healthcare workforce.

Why 1 health system is moving IT operations back in-house

Feb 25, 2024Beckers Hospital Review

CoxHealth moves IT operations in-house from Oracle Health aiming stronger synergies, better knowledge retention, and faster problem-solving. Contrary to popular trend of outsourcing, the move ensures better alignment within departments, conducive experience for all stakeholders, supporting their continued growth and success trend. Patrick Murfee, VP and CTO highlights the importance of retaining IT knowledge and speed in healthcare environment.

Walgreens to close VillageMD clinics in Florida

Feb 25, 2024Healthcare Dive

Walgreens closing remaining VillageMD clinics in Florida, continues cost-cutting. VillageMD, exiting Florida—one of largest markets—lacks doctors, patients in smaller clinics. Despite $5.2 billion investment, U.S. Healthcare struggles to profit. In cost-cutting, Walgreens shuts 60 VillageMD clinics, 450 retail locations; layoffs. Company's stock drops 41% since January 2023. Walgreens explores selling specialty pharmacy Shields Health Solutions. Leadership turnover and opioid epidemic liabilities add to woes.

Year Two of the AI Revolution: What to Expect for GenAI in 2024 - Workflow™

Feb 23, 2024ServiceNow

In 2023, generative AI emerged as a powerful force in the business world, drawing significant investment and interest for its advanced predictive capabilities based on large learning models (LLMs). The technology's ability to understand context and predict subsequent parts of a conversation marked a notable evolution from earlier chatbots. Investment in generative AI was robust, with companies pouring nearly $16 billion into the technology, and projections by Bloomberg Insights expect spending to soar to $1.3 trillion by 2032. Despite the considerable hype and rapid growth, experts predict that the generative AI sector won't experience a downturn in the immediate future, as enterprises are poised to further develop infrastructure and refine LLMs for enhanced performance. Heading into 2024, industry thought leaders, including Brian Solis from ServiceNow, predict that generative AI will continue to disrupt traditional business models and drive innovation. While change in legacy businesses tends to be slow, the pressure to evolve persists as disruptive technologies like generative AI challenge conventional processes and mindsets. December 2024 may not look drastically different from the previous year, but the implementation of generative AI is expected to automate existing processes and, more importantly, sow the seeds for transformative business models. Solis emphasizes the division between companies that merely use generative AI and those that leverage it to create new possibilities, suggesting that this is a critical moment for establishing new market leaders and redefining what it means to be a business in the modern era.

Career Guide In Digital Health And Healthcare AI

Feb 23, 2024LinkedIn

Career guide for digital health and healthcare AI fields, offering advice for researchers, those with a medical or tech background, traditional med-tech to digital health transitions, and biomedical engineers. Suggestions include finding niche research areas, understanding the technology you're working with, developing patient-focused solutions, comprehending digital health fundamentals, and improving communication skills. Being driven by passion rather than following top lists is recommended.

Meta’s Mark Zuckerberg has a theory about recent tech layoffs: It’s not AI

Feb 20, 2024SF Chronicle

Meta's CEO Mark Zuckerberg believes recent tech layoffs aren't caused by AI but rather companies shifting towards lean operations after oversizing during the pandemic. Zuckerberg denies AI as a major driver for job cuts.

Gen Z are treating employers like bad dates: 93% ghost interviews and 87% have not even shown up for their first day of work

Feb 20, 2024Yahoo Finance

Gen Z workers ghosting employers, 93% missing interviews, 87% not showing on first work day. Indeed survey reveals 75% employees ignored potential employers within a year, ghosting affecting hiring process. Ghosting behavior common across all generations, regret typically follows older workers, however. Workers argue ghosting’s fairness due to employers’ similar actions. Over third company respondents consider sentiment reasonable.

Ascension posts $708M quarterly turnaround

Feb 20, 2024Beckers Hospital Review

Ascension reported Q2 FY24 net income of $359.5m, a $708m improvement from Q2 2022's $238.1m loss. The improved operational performance is due to strategies for volume growth, rates, pricing, and cost controls. Revenue rose by 9.4% to $7.7b and expenses by 2.5% to $7.6b in Q2. Salaries, wages, and benefits decreased by 2.1% due to outsourcing lab services and labor stabilization initiatives. Ascension also saw increased facility volume primarily due to inpatient admissions and surgery visits.

Healthcare's Oppenheimer moment

Feb 19, 2024Beckers Hospital Review

Excitement and concern surround AI's rapid growth in healthcare; ChatGPT offers automation, data analysis, and complex chatbot comms. However, trained biases, information security, and accuracy remain risks. Health systems struggle with implementing AI solutions, balancing automation and medical decision-making enhancement with potential dependence dangers. The ECRI announced "insufficient AI medical tech governance" as a top 2024 health tech hazard, emphasizing continuous accuracy and appropriateness monitoring. Further, a UPMC and KLAS survey revealed 65% of health systems lack a governance policy for AI use, while a paltry 55% of systems with policies updated them in the past year. Experts anticipate technology and automation will drive significant healthcare transformations within the next three years, with AI expected to revolutionize operations, scheduling, and patient access.

The women in AI making a difference

Feb 19, 2024TechCrunch

TechCrunch highlights AI-contributing women, countering gender gap indication from The New York Times. Just 16% AI faculty women per Stanford study; World Economic Forum states 26% analytics or AI positions are women-held. With AI field hurt by lack of women, promoting stronger mentorships and diverse workplace policies may instigate change.

Remote work: Deutsche Bank bans workers from working Fridays and Mondays at home

Feb 19, 2024Fortune

Deutsche Bank bans remote work on Fridays and Mondays to evenly distribute presence throughout the week, away from typical mid-week concentration. Move may risk employee engagement and retention. US office vacancy rates rise due to remote work. Huge real estate value losses predicted globally.

Why health insurers suddenly want sicker patients

Feb 18, 2024Axios

Insurers anticipate profit surge from Medicare and Medicaid eligibles despite high healthcare costs. Shift sees profits from government plans like Medicare Advantage and Medicaid managed care. McKinsey report predicts earnings from "dual eligibles" to grow >10% by 2027. 12-13m utilize both Medicare and Medicaid, 29% in private Medicare Advantage plan. Income <$20,000 for 87% dual enrollees and majority low-income, with different health needs.

Airline ordered to compensate passenger misled by chatbot

Feb 18, 2024Business Insider

Air Canada ordered to compensate misled passenger by chatbot. Jake Moffatt sought compensation after chatbot misinformation about bereavement rates. Despite Air Canada's denial and claim of chatbot's autonomy, tribunal ordered $602 refund.

Mark Zuckerberg Called out Apple Over the App Store. Tim Cook’s Response Is Brilliant

Feb 18, 2024Inc.com

Meta, owner of Facebook and Instagram, to use Apple's in-app payment system for boosted posts resulting in 30% commission paid to Apple. Meta will pass this cost to users leading to higher prices, naming it "Apple service charge". The move follows Apple's App Store Review Guidelines update. Meta criticizes Apple for this, but refuses to absorb the cost for small businesses. Apple defends, stating purchases of digital goods must use in-app purchases. Critics suggest Meta should've been paying this commission all along.

Health systems lack AI governance: 'Generative AI is not a one-time fix'

Feb 17, 2024Beckers Hospital Review

Healthcare executives see AI potential but lack governance. Only 16% have systemwide policies, with many creating oversight committees. AI benefits include improved efficiency, increased clinical decision visibility, and task automation. 73% plan AI adoption via EHR vendors for integration ease. However, attention and calibration required, per UPMC Enterprises' Jeffrey Jones. Most organizations using cross-functional teams for AI deployment, often led by CIOs and data officers. Trust in large companies for AI integration with HIPAA compliance, lesser faith in startups. Adoption focus post-deployment on clinician and team member education, proven benefits aid buy-in.

Leaders keep kicking the same healthcare cans down the road

Feb 16, 2024Beckers Hospital Review

Lack of substantive action on healthcare issues results in repeat problems such as hospital closures, staff safety concerns, workforce shortages, and cyberattacks. Delayed attention to hospital financial issues often overlooks patient safety and care, with Steward Healthcare's recent financial crisis highlighting this issue. Ongoing violence against healthcare workers reflected by legislation like the Safety from Violence for Healthcare Employees Act, shows increased risk and requires deterrent measures. Data gaps weaken responses to persistent healthcare staff shortages, affecting care availability. Lastly, increasing, yet insufficiently addressed, cyber attacks on hospitals pose a growing threat.

CISO and CIO Convergence: Ready or Not, Here It Comes

Feb 15, 2024DarkReading

Digital transformation intensifies overlap between CIO and CISO roles, highlighting integral role of cybersecurity in businesses. Changes in IT requirements shifted CIO's focus from managing infrastructure to harnessing innovation via IT services, while heightened cybersecurity threats enhanced the role and visibility of CISOs in business. Digital transformation brings increased collaboration between CISOs and CIOs, although ultimate roles may depend on company factors. Regardless, alignment between these roles is key to successful digital transformation.

23andMe’s Fall From $6 Billion to Nearly $0

Feb 13, 2024WSJ

23andMe, once valued at $6 billion, now risks Nasdaq delisting with valuation down 98%, under $1 stock; CEO Wojcicki's billions lost; staff reduced 25% via layoffs, subsidiary sale; company unprofitable, may exhaust cash by 2025.

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Technology Debt – when your infrastructure has been ignored too long