1 00:00:00,000 --> 00:00:01,965 - Welcome to the Becker's Healthcare Podcast. 2 00:00:02,625 --> 00:00:03,965 We at Becker's are excited 3 00:00:03,965 --> 00:00:07,605 to welcome more than 2,500 healthcare executives 4 00:00:07,825 --> 00:00:10,605 to Chicago next April for our annual meeting. 5 00:00:11,195 --> 00:00:12,445 Over the four day event, 6 00:00:12,745 --> 00:00:15,285 you'll hear more than 450 elite hospital 7 00:00:15,285 --> 00:00:16,605 and health system executives. 8 00:00:16,855 --> 00:00:17,925 Share the big ideas 9 00:00:18,025 --> 00:00:20,565 and best strategies driving healthcare forward. 10 00:00:21,215 --> 00:00:24,165 Visit conferences dot becker's hospital review.com 11 00:00:24,165 --> 00:00:27,885 to register or email agenda team at becker's healthcare.com. 12 00:00:28,435 --> 00:00:30,325 This event is closed to non-providers. 13 00:00:30,465 --> 00:00:32,725 Unless coming through our sponsorship or exhibit. 14 00:00:33,335 --> 00:00:35,085 Reach out soon to sponsor the event. 15 00:00:35,375 --> 00:00:37,245 We'll be sold out by the end of the year. 16 00:00:38,035 --> 00:00:39,205 Without further ado, 17 00:00:39,465 --> 00:00:41,885 here's your daily industry news briefing for today. 18 00:00:42,245 --> 00:00:45,885 December 20th. First, Sashi Moodley, 19 00:00:46,015 --> 00:00:49,405 chief Medical Officer at Walgreens Health said he predicts 20 00:00:49,405 --> 00:00:51,965 the healthcare industry will make a strategic shift toward 21 00:00:51,965 --> 00:00:53,005 value-based care models. 22 00:00:53,025 --> 00:00:57,485 In 2024, quote, I predict increased adoption 23 00:00:57,485 --> 00:00:58,725 of value-based care models. 24 00:00:58,825 --> 00:01:01,845 He told Becker's the increasing emphasis on improving 25 00:01:01,845 --> 00:01:05,045 patient outcomes while simultaneously controlling costs 26 00:01:05,235 --> 00:01:07,725 creates pressures to evolve the traditional fee 27 00:01:07,745 --> 00:01:11,085 for service model as payers accelerate their demands to pay 28 00:01:11,085 --> 00:01:13,045 for outcomes and not promises. 29 00:01:14,705 --> 00:01:18,645 Dr. Moodley also said he predicts risk-bearing entities will 30 00:01:18,645 --> 00:01:21,005 seek to form deeper strategic partnerships 31 00:01:21,345 --> 00:01:23,685 and reduce reliance on coordinating multiple 32 00:01:23,685 --> 00:01:24,885 vendors and solutions. 33 00:01:25,885 --> 00:01:27,685 Specifically, health systems will look 34 00:01:27,685 --> 00:01:29,685 to enter value-based care models to continue 35 00:01:29,685 --> 00:01:31,045 to improve patient outcomes 36 00:01:31,385 --> 00:01:33,565 and diversify their revenue streams, 37 00:01:33,935 --> 00:01:36,845 while also seeking strategic partners like Walgreens 38 00:01:37,025 --> 00:01:40,005 to help alleviate labor shortages, rising costs, 39 00:01:40,265 --> 00:01:41,845 and other operational issues. 40 00:01:41,845 --> 00:01:43,965 Coming out of the COVID-19 pandemic. 41 00:01:45,305 --> 00:01:48,805 Second verily, the Life Sciences unit owned 42 00:01:48,805 --> 00:01:50,085 by Google's parent company, 43 00:01:50,525 --> 00:01:53,405 alphabet is losing its Chief Medical Officer, 44 00:01:54,305 --> 00:01:57,005 Amy Abernethy, chief Medical Officer 45 00:01:57,105 --> 00:02:00,245 and president of product Development is leaving Verily 46 00:02:00,245 --> 00:02:01,925 to lead a new healthcare nonprofit. 47 00:02:02,035 --> 00:02:06,005 According to her LinkedIn, she wrote, quote, the decision 48 00:02:06,005 --> 00:02:08,405 to leave Verily was difficult, but made easier. 49 00:02:08,405 --> 00:02:11,285 Knowing that we are now actively building what only two 50 00:02:11,285 --> 00:02:13,165 and a half years ago was a bold vision. 51 00:02:13,965 --> 00:02:16,765 I am con, I am confident that the vision roadmaps 52 00:02:16,765 --> 00:02:17,805 and plans are in place. 53 00:02:18,145 --> 00:02:20,845 The team is awesome. The progress is astonishing. 54 00:02:22,225 --> 00:02:23,365 At Veley, Ms. 55 00:02:23,555 --> 00:02:25,605 Abernethy oversaw teams that developed 56 00:02:25,605 --> 00:02:27,605 and delivered solutions that bridge the gap 57 00:02:27,605 --> 00:02:29,725 between clinical research and care. 58 00:02:30,515 --> 00:02:33,125 This comes shortly after Alphabet said in October 59 00:02:33,435 --> 00:02:36,325 that it would be laying off an unknown number of employees. 60 00:02:36,385 --> 00:02:40,005 At Verily third invitation, 61 00:02:40,525 --> 00:02:44,045 a biotech company focusing on genetic testing laid off 62 00:02:44,045 --> 00:02:45,245 15% of its staff. 63 00:02:45,245 --> 00:02:49,085 As the company initiated a cost cutting plan at the end 64 00:02:49,085 --> 00:02:53,405 of 2022, the company had laid off around 1700 employees 65 00:02:53,945 --> 00:02:55,045 beyond the layoffs. 66 00:02:55,225 --> 00:02:58,525 The company is also divesting from citizen, a med tech 67 00:02:58,845 --> 00:03:00,445 - Platform for storing EHR data. 68 00:03:01,025 --> 00:03:02,845 The company projects that the layoffs 69 00:03:02,845 --> 00:03:07,365 and divers divers teacher will result in an annualized cash 70 00:03:07,365 --> 00:03:09,525 savings of 90 million to a hundred million. 71 00:03:09,755 --> 00:03:11,725 According to a news release from the company. 72 00:03:12,305 --> 00:03:14,845 In its most recent financial report, that company 73 00:03:15,525 --> 00:03:19,285 reported a $1.3 billion loss in the nine month period 74 00:03:19,285 --> 00:03:20,845 ending September 30th. 75 00:03:21,785 --> 00:03:24,565 Are you interested in engaging in dynamic conversations 76 00:03:24,835 --> 00:03:27,125 with hundreds of top health system executives 77 00:03:27,265 --> 00:03:29,365 and gaining valuable insight for your business? 78 00:03:29,915 --> 00:03:31,845 Join the 300 plus sponsors EXI 79 00:03:31,845 --> 00:03:34,245 and exhibitors at the Becker's 14th annual meeting. 80 00:03:34,735 --> 00:03:38,005 April 11th. April 8th through the 11th in Chicago. 81 00:03:38,655 --> 00:03:41,765 Email Jessica Cole at jCole@beckershealthcare.com 82 00:03:41,785 --> 00:03:43,045 to reserve your spot today.