Stay ahead of the headlines

Dec 3, 2023·Vinson & Elkins LLP

New York’s Department of Financial Services fined First American Title Insurance Company $1m for inadequate implementation of cybersecurity policies, marking reminder to organizations for practical cybersec policy execution. Issue was noted with EaglePro app, offering unauthorized document access. Triggering review for other firms under cybersecurity regulations like Federal Trade Commission Act, Sarbanes-Oxley Act.

Dec 3, 2023·AMA

Physicians' early retirements and shifting job perceptions demand smarter technology uses in the US health system. A 2021-2022 AMA survey found 40% of physicians considering leaving their current organization within two years due to a lack of valuation and escalating burnout exacerbated by clerical workload. Experts, including Dr. Tina Shah, push for technological advancements like AI to automate repetitive tasks and reduce clerical burdens. In addition, they propose actions under the "2022 Healthcare Workforce Rescue Package". These tactics aim to create safer workplaces, foster team collaboration, and ensure physicians' dedicated time to practice medicine.

Dec 3, 2023·STAT News

UnitedHealth Group employs or affiliates 90,000 U.S. doctors, 10% total, adding 20,000 past year. The major insurer seeks greater control over health care delivery, amid unchecked growth by antitrust agencies.

Dec 2, 2023·MobiHealthNews

GPT-4 outperformed 99.98% of simulated humans, diagnosing 52.7% of complex cases in a Denmark study using 38 clinical case challenges. Compared diagnostic results of GPT-4 and 248,614 online medical journal readers. Study included diverse diseases, ages, and genders. Research indicates GPT-4's clinical promise, but emphasizes need for further trials and considerations for global benefit, ethical implications, and regulations.

Dec 1, 2023·Beckers Hospital Review

Nashville's HCA Healthcare and New Hyde Park's Northwell Health may face financial struggles due to IT problems. Northwell's recent IT investments in EHR, digital health services, and telehealth have led to a 9% increase in operating expenses. Despite this, Northwell reported a 8.9% rise in operating revenue. Meanwhile, HCA Healthcare's future earnings could be impacted by their use of certified electronic health record technology and interoperability requirements.

Dec 1, 2023·Heller Search Associates

New tech turns "if" to "how", demanding build/buy decisions, investment, risk and talent management. CIOs must guide GenAI application with enterprise-wide perspective. Understanding GenAI's purpose, including distillation, conversation, content generation, aids valuable deployment. Key decisions: building/buying models factoring privacy, data availability, quality, effort, security; estimating costs; managing risks; acquiring right talent. Savvy CIOs seize leadership opportunity in unfolding GenAI advancements.

Dec 1, 2023·All Things Distributed

Generative AI, trained on culturally diverse data, is on the rise and is expected to become culturally aware and accessible worldwide. Women's healthcare industry (FemTech) is seeing a rise in investment with increased focus on specific needs. As FemTech grows and goes hybrid, improved patient outcomes are expected. AI assistants will enhance developer productivity by assisting throughout software lifecycle. Industry-led, continuous skills-based training programs are being seen as a necessity as traditional education fails to keep up with tech innovation's pace.

Dec 1, 2023·AMA

AMA released principles for AI in health care fostering consistent governance. AMA advocacy aims to support implementation of national policies prioritizing ethical, equitable, responsible, transparent AI development and deployment. Recognizing AI's potential and ethical considerations, principles guide AMA engagement in policy discussion. Principles call for comprehensive policy mitigating risks and maximizing benefits. Key principles include oversight, transparency, disclosure/documentation, generative AI, privacy/security, bias mitigation, and liability. Also addressed, AI usage by payors in decision-making, urging to not reduce or systematically withhold care. AMA aims to ensure safe, quality, unbiased, validated AI products brought to market.

Dec 1, 2023·LinkedIn

Security executive Jason Elrod shares tips to develop business acumen among security executives: differentiate between business skills and technical expertise; adopt a beginner's mindset; find strategic mentors; focus learning on relevant areas; network and engage in cross-field forums; study and apply lessons from case studies; use feedback to gradually apply learned business concepts; and read recommended resource books. Elrod encourages applying these strategies for effective leadership, management, and cybersecurity in businesses.

Dec 1, 2023·The Atlantic

OpenAI, a leading AI start-up, experiences turmoil with CEO Sam Altman's firing and rehiring due to corporate governance issues. The firm's unique organization of having a non-profit entity overseeing its for-profit subsidiary leads to tension between fast commercialization and resisting rapid AI development, highlighting need for better corporate structuring.

Nov 30, 2023·Beckers Payer

Cigna and Humana negotiate merger; to finalize stock-cash deal by end 2023. Cigna-Humana merger would create US healthcare giant and rival UnitedHealth Group, Elevance Health, and CVS; Cigna and Humana's market values are $83 billion and $62 billion. Cigna previously considered selling its Medicare Advantage business and attempted merger with Elevance Health.

Nov 30, 2023·Beckers Hospital Review

Providence reported a Q3 operating loss of $310M, down from last year's $164M, despite a 5% YOY revenue increase. Performance impacted by a 7% expense increase due to wage rises, higher supply and patient service costs. The system prioritizes recruitment and retention to reduce agency staffing reliance, addressing discharge challenges and increasing surgical capacity across facilities. Despite losses, an $857M operating loss for the nine months ending September is reported, lower than last year's $1.1B.

Nov 29, 2023·USA Today

Ransomware attack diverts ER patients from Ardent Health Services hospitals in four states. Non-urgent procedures rescheduled. ER patients diverted include those from Hillcrest HealthCare, Lovelace Health System, UT Health, and Ardent's New Jersey centers. Ardent suspended network access, launched additional IT security protocols, and reported incident to law enforcement.

Nov 28, 2023·Gallup

75% of Americans predict AI will reduce jobs in the next decade, with those lacking bachelor degrees more likely to say so. Despite this, majorities recognize AI's potential benefits in certain tasks. However, 79% express low trust in businesses' responsible AI use, 40% believe AI causes more harm than good, highlighting an opportunity for businesses to affirm their AI commitment.

Nov 28, 2023·Healthcare IT News

Epic's head of R&D, Sumit Rana, outlines use of AI in EHRs to improve patient-provider interaction, generate progress notes from conversations, draft responses to patient queries, and assist with medical coding. AI proves beneficial in reducing time spent on documentation and increasing empathy in communication. Future goals include reducing administrative overhead and automation of administrative tasks.

Nov 28, 2023·Beckers Hospital Review

CEO role evolution in 2023: Burnout and isolation contribute to healthcare's high CEO turnover rate, leading to industry-wide leadership structure realignment for greater collaboration and integration. As hospital CEOs focus on excellence amid workforce shortages, recruitment and employee well-being are prioritized. Some health systems assign dual roles to executives to streamline leadership and respond more effectively.

Nov 28, 2023·Healthcare IT News

Radiology service access in rural areas can be improved through a mix of business and cultural skills, overcoming workforce shortages and hospital closures, says the Radiological Society of North America. Nationwide physician shortage and hospital closures have made rural radiology practice grim. Challenges include recruiting and retaining radiologists in remote areas. Despite this, some universities report improved wait times and procedures. Solutions include ensuring patients understand appointments, test results, and private equity support. Virtual specialty care also helps overcome shortages, with telemedicine playing a key role. Despite challenges, rural radiologists' varied workload attracts many practitioners.

Nov 28, 2023·Healthcare IT News

HHS advances proposed info-blocking rules that could penalize noncompliant Medicare providers. Comments due by 2024; penalties possibly enforced sooner. HHS, Foley & Lardner, and American Telemedicine Association review key exceptions, data security strategies. Noncompliant providers may be fined thousands under Promoting Interoperability Program, affecting eligibility of clinicians within other CMS programs. Info-blocking referrals investigated case-by-case; participants in Medicare Shared Savings Program may face year-long bans. Eight exceptions necessitate employee training to avoid unintentional rule violations. Info-blocking rules require privacy exception authorize disclosure, impacting HIPAA regulations. Infeasibility, preventing harm exceptions have conditions. Interference with access, exchange or use of EHI may result in harm exception application. Penalties apply annually.

Nov 28, 2023·McKinsey & Company

McKinsey article underscores the importance of rigorous strategy testing for businesses. Instead of chasing new strategic approaches, it suggests focusing on timeless principles. The article provides ten critical tests for evaluating strategy, including understanding competitive advantage, recognizing market trends, handling uncertainty and assessing market position. It emphasizes that strategy is not a framework but a way of thinking, and advises that strategic dialogue is essential in any corporate setting. A strategy should be able to leverage trends, be based on insights, accommodate uncertainty, mitigate biases, facilitate action, and balance commitment and flexibility.

Nov 28, 2023·Forbes

Best Buy Health and Mass General Brigham collaborate to enhance home healthcare services using tech-driven model. Initiative aligns with growing patient demand for accessible at-home care. Best Buy Health supports MGB's Home Hospital and Home Care services. Technology, including Best Buy's Current Health platform and Lively personal emergency response device, helps improve patient care delivery. Home healthcare can lower costs, increase patient convenience and decrease hospital reliance. Tech advancements facilitate virtual care and remote monitoring, improving patient outcomes. Future focus on seamless rollout and scaling of initiative obstacles.