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Feb 4, 2024·Kaufman Hall
Post-COVID-19, hospitals' worst financial year, 2023 shows improvement in operational, financial measures with 2.3% increase in margins according to the National Hospital Flash Report, January issue.
Feb 4, 2024·Beckers Hospital Review
Credit agencies Fitch Ratings and Moody's Investors Service highlight solid financial and operational health of 10 systems: Duke University Health System, JPS Health Network, Mass General Brigham, Med Center Health, MyMichigan Health, Oregon Health & Science University, Orlando Health, TriHealth, University of Colorado Health, and Willis-Knighton Medical Center; all have stable outlooks and high ratings, reflecting robust performance, growth and market positions.
In 2018, former UnitedHealth Group CEO David Wichmann ruled out building or owning hospitals for Optum's growth strategy. Instead, the plan focused on managing administrative services for health systems for Optum Care's $100m goal by 2028. By 2024, Optum had signed nine partnerships, including Allina Health, and hired their employees to support the systems. Wichmann had also said Optum wouldn't buy post-acute care facilities, but the company now owns naviHealth, a post-acute management organization, and bought LHC Group, a home health provider, in 2023. Optum also plans to buy Amedisys, a home and hospice care provider, for $3.3 billion. Optum's revenue exceeded $226 billion in 2023, with Optum Health surpassing $95 billion.
Feb 3, 2024·Medscape
Emergency medicine doctors propose everyone having personal emergency doctors, reducing over and under-triage at hospitals. Current systems don't support this due to insurance companies' structures. Telemedicine growth, integrated systems like Kaiser Permanente and AI-powered kiosks offer better access but have limitations. Concierge medicine provides personal care and accessibility but comes with substantial cost. Innovations reducing costs, fulfilling personal care needs are imperative in healthcare's future.
Feb 3, 2024·The Register
Ransomware group LockBit attacked Chicago's nonprofit Saint Anthony Hospital, demanding $800,000 ransom. The attack, deviating from previous non-targeting of nonprofits, encrypted patient data, which was not compromised until January 7. LockBit's motives have been questioned, suggesting it misunderstood the definition of "nonprofit". The hospital is cooperating with the FBI and the Department of Health and Human Services, warning patients of potential identity and financial frauds. LockBit previously attacked Toronto's SickKids hospital, apologizing and issuing a free decryptor.
Feb 3, 2024·SC Magazine
2023's largest U.S. health sector data breach targeted medical transcription firm PJ&A, affecting over 14 million individuals. Breach included patients' personal data, like names, addresses, medical information, and potentially Social Security numbers. Impacted clients include Chicago's Cook County Health and New York's Northwell Health. Previous record was HCA Healthcare breach, affecting 11 million patient records.
Feb 2, 2024·DarkReading
JCI spent $27M remediating a September 2023 ransomware attack. The incident involved data exfiltration and locked internal IT infrastructure. Despite concerns, JCI's smart-factory installations remained unaffected. Investigation and remediation are ongoing.
CISA orders Federal Civilian Executive Branch agencies to remove all Ivanti appliances within 48 hours due to multiple security flaw exploitations. Chinese state-backed cyberattackers exploited at least two vulnerabilities causing CISA to instruct agencies to disconnect Ivanti products. CISA directive applies to 102 agencies, includes Homeland Security, State, Energy, and SEC. All entities using Ivanti appliances urged to prioritize network protection. Appliances can't reconnect until rebuilt and upgraded. Agencies must report steps by Feb. 5, 2024. CISA mandates double password reset, Kerberos tickets revocation, device token revocation, and reports by March 1, 2024.
Feb 2, 2024·Cybersecurity Dive
Biden administration moves forward with cybersecurity strategy to protect infrastructure, hold manufacturers accountable for product security, and compel private sector disclosure of material events. 2024 sees heightened push for cybersecurity regulation due to increased malicious threats. New rules prompt proactive risk management from companies to preempt cyber incidents. Enhanced regulations require companies to certify cyber resilience, and conditions mean cyber risks must be disclosed to SEC within four days. Enhanced product security regulations expected. SolarWinds pushes back against SEC allegations. Regulatory landscape not US-exclusive, EU introduces Cyber Resilience Act requiring minimum cybersecurity standards for all digital products sold.
Feb 1, 2024·AAMC
AI tools, like DAX, record doctor-patient conversations and generate written notes, freeing doctors from note-taking during visits. This technology potentially improves the quality of care, reduces documentation time, and alleviates physician burnout. Limitations include transcription errors, omission of crucial medical details, and potential misuse of recorded conversations. Reported benefits include more efficient consultations, accurate notes, and reduced time spent on documentation. Some physicians express concerns about the completeness of the notes and patient privacy. The use and development of such tools, partnered with various EHR platforms, continue.
Feb 1, 2024·CNN
FBI Director Wray warns of China's potential to "wreak havoc" on US infrastructure via cyberattacks, indicating a rising superpower threat and fragile US-China relations. Wray's alert coincides with growing concerns over the vulnerability of interconnected transport, power, and energy networks. Wray cautioned about the Chinese Communist Party's (CCP) hackers targeting critical US infrastructure, heightening the specter of an influential Chinese cyberattack. Prior to a congressional hearing, Wray countered the Chinese government's assurance of non-interference in the 2024 US presidential election. Discussions also highlighted China's potential infringement on systems that control traffic signals, water treatment, and the electrical grid.
Feb 1, 2024·This Week in Health IT
Drex DeFord introduces 229 Security & Risk Community to respond to healthcare cybersecurity challenges. Platform prioritizes collaboration, shared experiences and resources, planned roundtable events, and a podcast. Aims to foster fun, relaxed and innovative discussions while enhancing cyber defenses. Invites participation in podcast and events, and encourages channel subscription.
Feb 1, 2024·MIT Sloan School of Management
Tech executives spend less time collaborating, more on customer engagement and innovation, according to MIT research. Shift in responsibilities from tech upkeep (41% in 2022) to business capabilities (19%, up from 10%) and customer/partner interactions (17%, up from 10%), observed. Noted link between high innovation and customer work, profitable growth and enterprise capabilities. Executive VP at Disney, Evans, delegates day-to-day operations, focuses on business capabilities management (35%).
Feb 1, 2024·Beckers Hospital Review
Despite healthcare ambitions, 23andMe valuation down 98%, never achieved profit. DNA-testing business, launched 2006, begins $399 but falls to $99 by 2012. Company pivots to healthcare, drug development. Acquires telehealth firm in 2021, by 2022 establishes drug development hub. In 2023, partners with GSK to share future profits but cuts half of team due to lack of capital, reports data breach. Moves to subscription model with moderate success. Shortcomings include one-time use of tests, rare life-changing results. Expected to deplete cash by 2025, has used 80% of raised $1.4B.
Feb 1, 2024·Deloitte
Healthcare executives incorporating generative AI into workflows may overlook key success factors if focusing solely on data. Survey reveals 70% focus on data availability, quality, compliance, security, and privacy but neglect important considerations such as effective governance, building consumer trust, and workforce upskilling. Successful integration of AI requires a broader strategic approach.
Feb 1, 2024·BBC
Health tech start-ups are disrupting US healthcare by envisioning ways to make services more accessible and efficient. Cityblock Health and Tend are among companies offering medical, dental, and mental health care in relaxing environments, while BetterHelp and Maven Clinic offer online services. Businesses aim to make it easier to book appointments, reduce waiting times, and improve access to medical technology, often working directly with insurers to simplify patient processes. Despite the failure of some start-ups, experts believe collaboration between traditional healthcare providers and start-ups could largely improve patient experience.
Feb 1, 2024·William Fry
AI Act's final text out; prohibits AI systems distorting behaviour, exploiting vulnerabilities, inferring biometric categories, evaluating/classifying individuals unfairly, creating facial recognition databases untargetedly and assessing criminal risk based solely on profiling. High-risk AI systems need efficient risk management, documentation, registration, appropriate mitigation measures for feedback loops, and strong human oversight. Act applies to EU-based deployers, AI system outputs used in EU, and general-purpose AI models. Non-compliance warrants heavy administrative fines. Businesses should evaluate AI systems for compliance, document meticulously, implement disclosure measures, invest in human oversight, and communicate transparently regarding AI deployment in workplaces.
Feb 1, 2024·AMA
40% of doctors consider leaving their workplaces due to burnout, low value perception, and heavy clerical burdens. To retain physicians, health systems need to reduce burnout, value doctors, decrease clerical tasks, and smartly use technology like AI to structure tasks enabling doctors to focus on patient care. BindingFlags: "Dr Tina Shah, Chief Clinical Officer at Abridge, suggests that AI can handle repeated, low-level tasks easing workloads."
Feb 1, 2024·Ars Technica
HP's CEO explains that blocking third-party ink cartridges is a security measure as cartridges can be hacked. The company's Dynamic Security system, active since 2016, prevents HP printers from working with non-HP cartridges. This has led to lawsuits, with claimants believing consumers were not properly informed about updates disrupting printer functionality. An HP-funded study found hacking via third-party ink cartridge possible, but no evidence exists of such an attack occurring in reality. HP's persistent push towards proprietary cartridges and its profitable ink subscription service, Instant Ink, has led to consumer inconvenience and criticism. The company, however, sees selling printers as an investment in customers and expects a return via continued use of HP products and services.
Jan 31, 2024·LinkedIn
Palm, Inc. creator of the PalmPilot, eclipsed Apple, Amazon, Google, and Nvidia in 2000. Despite market dominance and a market cap of $58 billion, Palm struggled to adapt to smartphones, lost market share, and was ultimately bought by HP in 2009 and ceased operations in 2010. This highlights tech's fickle nature and the significance of continuous innovation.