- Welcome to the Becker's Healthcare Podcast.
We at Becker's are excited
to welcome more than 2,500 healthcare executives
to Chicago next April for our annual meeting.
Over the four day event,
you'll hear more than 450 elite hospital
and health system executives share the big ideas
and best strategies driving healthcare forward.
Visit conferences dot becker's hospital review.com
to register or email agenda team at becker's healthcare.com.
This event is closed to non-providers.
Unless coming through a sponsorship
or exhibit, reach out soon to sponsor the event.
We'll be sold out by the end of the year.
Without further ado, here is your daily news briefing
for today, January 10th.
First, C-V-S-C-E-O.
Karen Lynch told CNBC
that primary care is a fundamental aspect
of the company's offerings.
She said, quote, think about primary care
as a quarterback to your healthcare.
Adding that at-Home Care can be especially helpful
for parent patients stating, when we're in the home, we get
to open up the refrigerator and see if you're eating well.
We get to look and see if there's
rugs that you might trip on.
This comes as CVS has been working to expand into a broader
and more diverse healthcare company.
In March, the company completed its $8 billion acquisition
of Signify Health, adding more than 10,000
clinicians to its network.
In May, CVS acquired primary care company Oak Street Health
for 10.6 billion.
The push for primary care comes as CVS looks to close 900
of its stores and removes self-checkout from
several locations.
Ms. Lynch said quote, we really looked at density
and we said sometimes there was a store on one corner
and a store on another corner.
We continue to evaluate our store closures,
but we still have total access to care.
85% of Americans are within a 10 mile radius
of a CVS end quote.
Second Fitch ratings upheld the long-term issuer default
rating and unsecured debt of Oracle at BBB.
According to Fitch,
after acquiring EHR vendors Cerner in June,
Oracle has constrained additional debt in Shsu
and share buybacks
and is focusing instead on repaying maturities
through physical 2024
with a projected E-B-I-T-D-A leverage staying
below 3.5 times.
Fitch said it anticipates that physical 2025,
the company will resume activities such as debt refinancing
and share buybacks, all while ensuring
that E-B-I-T-D-A leverage remains below 3.5 times
following a temporary dip in E-B-I-T-D-A margins.
Following the acquisition of Cerner,
Orkel has seen a rebound in profitability the past few
quarters nearing level seen before the acquisition.
According to Fitch,
Fitch anticipates H trajectory towards 50% E-B-I-T-D-A
margins in the intermediate term.
As Cerner becomes fully integrated
and Oracle sustained growth in cloud products is expected to
- Mitigate a decline on in on-premise products.
Third, Mayo Clinic unveiled partnerships
with two AI driven companies January 8th, with plans
to accelerate personalized medicine
capabilities and offerings.
The health system sign an agreement with C oss, a team
of AI experts, and expanded its relationship
with Tech Psych, an AI based digital pathology company.
Mayo Clinic selected Sea Brass
as its first gen AI collaborator
for large scale domain specific AI capabilities
for more personalized diagnosis and treatment plans.
The Silicon Valley startup is working with Mayo
to develop models that we'll be able
to summarize medical recordings,
identify patterns in medical images,
and analyze genome dam data.
According to Reuters, Andrew Feldman, CEO,
and co-founder of the company, said it's an honor
to collaborate with Mayo Clinic,
a top ranked hospital in the nation.
With his recognized leadership in delivering medical
outcomes, we are uniquely positioned
to combine AI in medicine.
Mr. Feldman told Reuters his company signed a multimillion
dollar agreement with Mayo for a partnership
that will last several years,
and CBRA will provide the health system with hardware
and software development services.
Mayo Clinic platform,
the health systems innovation ecosystem
also announced a new partnership with Tech Psych.
The partners aim to create a digital pathology platform
with open end-to-end AI driven solutions.
For more accurate treatment,
healthcare organizations will be able
to use the AI workflow solutions developed
through the collaboration
to digitize their pathology practices.
Are you interested in engaging in dynamic conversations
with hundreds of top health system executives
and gaining valuable insight for your business?
Join the 300 plus sponsors
and exhibitors at the Becker's 14th annual meeting April 8th
through the 11th in Chicago.
Email Jessica Cole at jCole@beckershealthcare.com
to reserve your spot today.