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- Welcome to the Becker's
Healthcare Podcast.

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We at Becker's are excited

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to welcome more than 2,500
healthcare executives

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to Chicago next April
for our annual meeting.

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Over the four day event,

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you'll hear more than 450 elite hospital

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and health system executives
share the big ideas

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and best strategies
driving healthcare forward.

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Visit conferences dot
becker's hospital review.com

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to register or email agenda
team at becker's healthcare.com.

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This event is closed to non-providers.

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Unless coming through a
sponsorship or exhibit.

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Reach out soon to sponsor the event.

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We'll be sold out by the end of the year.

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Now, without further ado,

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here is your daily industry news briefing

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for today, December 4th.

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First, the healthcare IT
market is projected to grow

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by nearly 11%

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or $169 billion between 2022

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and 2027 according

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to a December 3rd report from Tech Varrio.

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Here are four takeaways from the report.

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The report found that increasing
focus on improving the

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quality of services and
efficiency is notably

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driving market growth.

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It also said during the projected period,

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the North American market will
experience 46% of the growth.

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The report also found that
the vulnerability of EHRs

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to cybersecurity risk

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and ransomware is still a majority

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impediment to market growth.

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The report named Oracle,
Microsoft 3M, UnitedHealthcare,

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and Athena Health as some

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of the major players in
the health IT market.

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Second two.

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More health systems have
partnered with Gen ai Startup,

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Hippocratic ai, Ohio
Health, and Robert St.

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Francis Healthcare are the
latest systems to team up

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with the company, which is
developing a patient facing

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non-diagnostic large language
model for healthcare.

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According to a December
1st news release shared

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with Becker's, Michael
Kraus, chief Strategy

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and transformations officer
at Ohio Health told Becker's

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quote, we believe gen AI will
have a meaningful impact on

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the future of how we, how
healthcare is delivered.

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Hippocratic has emerged

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as a potential leader in the
gen AI space for healthcare

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and is developing applications
that are highly relevant

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for providers while
representing an opportunity

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to address the growing staffing
concerns in the industry.

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End quote, Ohio Health made
a small equity investment in

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Hippocratic AI and picked up
seats on the company safety

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and data governance committees.

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Mr. Kraus said the 15 hospital
system will also help create

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and potentially pilot use cases.

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Ohio Health is also working
with Epic, Microsoft,

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and Nuance on early stage gen AI products.

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Hippocratic ai, which was co-founded

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by a former health system
COO, launched in May

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with $50 million from General ca Catalyst

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and Anderson Hortz.

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It was since, it since
has secured an additional

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$15 million funding ground led

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- By Cincinnati Children's
Hospital and Honor Health,

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and also partnered with Universal
Health Services c-Suite.

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Leaders from Cleveland Clinic

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and University Hospitals
have signed on as advisors.

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Third, culmination Bio,

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a company building a patient
data intelligence platform spun

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off from Intermountain Health,

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received a $10 million investment.

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The company has a growing library

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of over 5 million de-identified patient

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samples and clinical data.

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Culmination Bio works with biotech

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and life sciences companies
to accelerate clinical trials.

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According to a November 30th
news release from the company,

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culmination Bile spun out
from Intermountain Health in

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March, Merrick Global
Health Innovation Fund

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and Amgen Ventures provided
the $10 million advancement.

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Culmination Bile will use the funding

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to develop its intelligent
platform and fuel its growth.

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Fourth, epic earned $4.6 billion in

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revenue in 2022.

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The company said the EHR vendor
is the nation's largest BIAC

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acute care hospital market
share with 35.9% of hospitals

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and 47.6% of beds in 2022.

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According to colos research,

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the company's 2022 revenue
figures are up from 3.8 billion

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in 2021 and 3.3 billion in 2020.

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An epic spokesperson told
Becker's Epic CEO Judy Faulkner,

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who founded the company in
the late 1970s in a Wisconsin

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basement apartment is worth 7.4
billion according to Forbes.

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That is up from 3.5 billion in 2018.

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Here's Epic's revenue from
the past four years per at.

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Per Becker's reporting,

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20 22, 4 0.6 billion 20 21, 3 0.8 billion,

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2020 3.3 billion, 20 19, 3 0.2 billion.

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Are you interested in engaging
in dynamic conversations

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with hundreds of top
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Join the 300 plus sponsors

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through the 11th in Chicago.

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Email Jessica Cole at j cole
at becker's healthcare.com

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