- Welcome to the Becker's Healthcare Podcast.
We at Becker's are excited
to welcome more than 2,500 healthcare executives
to Chicago in 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 hospital review.com to register
or email agenda team at becker's healthcare.com.
This event is closed in non-providers
unless coming through a sponsorship or exhibit.
Without further ado, here is your daily news news briefing
for today, February 26th.
First, the value of digital health companies grew quickly
during the pandemic as healthcare was
forced out of the hospital.
However, funding has dried up in the last two years.
In 2023, global digital health funding have
for the second year in a row with us,
$13.2 billion raised in 1,397 deals.
According to CB Insights, deal size was around 4 million,
and the medium digital health deal size trended upward.
However, there were only 300 do a hundred million dollars
plus deals in the fourth quarter of last year,
and the digital health unicorns are becoming
even less common.
The digital health market has also seen con
consolidation in partnerships
to further integrate into hospitals and health systems.
Yahoo Finance compiled the 12 most valuable US based digital
health companies based on current market caps
and found that CVS came in at number one.
Dexcom came at two I-Q-V-I-A came at number three.
Number four is Veeva Systems.
Number five is simulations, plus number six is Doximity.
Number seven is Health Catalyst number eight is Neuro pace.
Number nine is DOT go 10 Murano, 11 Amwell,
and 1223 and me second.
Pittsburgh based Highmark Health will be using technology
from Google Cloud
and EHR vendor Epic Systems in an effort
to enhance data collection
for healthcare providers and payers.
CNBC reported by merging Epic's payer platform,
which facilitates the exchange of patient data
between payers and providers.
With Google's analytics
and AI capabilities, Highmark aims to streamline access
to vital patient information.
This includes information such as upcoming visits,
medical history, and syringe claims,
and health plan benefits.
Typically, this information is scattered across various
databases and format formats, which can be challenging
for healthcare professionals
and insurance personnel to locate efficiently.
But with this integration,
Highmark says it will automate administrative tasks
including prior authorization.
Tony Farrah, chief Medical
and Clinical Transformation Officer at Highmark mentioned
that the integration will also assist physicians in making
more informed decisions regarding appropriate next steps,
ultimately leading to a reduction in the cost
of care proof patients.
Dr. Farrah told CNBC doctors don't need help once
- They have information.
The problem is they don't have it.
The idea is to bribe this type
of actual information well ahead of time, anytime
of the day end quote.
Additionally, Highmark said, the integration will facilitate
the aggregation of clinical data from its hospitals
providing convenient.
Ask us for representatives from its health plan.
The technology is capable
of automatically notifying the health plan about forthcoming
patient visits, eliminating the need for manual processes
and improving efficiency.
According to Highmark, this integration is anticipated
to save approximately $2.7 million annually as estimated
by its provider system through shared claims data.
Third, GE Healthcare is partnering
with Health Tech Company biopharmas
to expand the application
of patient monitoring technology from hospitals
to the home of patients.
Biopharmas, AI guided algorithms help provide insights
that can assist care teams in delivering personalized
and efficient care at home.
According to a news release from ge,
the partnership is looking to integrate BIOPHARMAS Virtual
Care at Home Solutions.
With GE Healthcare's Monitoring
and Virtual Care Solutions, the aim is
to allow GE Healthcare to expand the continuum of care
behind the hospital, enabling care teams
to have a comprehensive and continuous view of patients
beyond the hospital environment.
With this, both companies are looking at ways
to have more patients leave the hospital sooner
and provide an option for care at home.
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.