Care Transformation Studio

Great start to HLTH. Lots of programing on the first day including the Global Health Connector Summit with Nicole Althaus and Eric Thrailkill moderating panels. Kaiser Permanente CEO Greg Adams was featured in the opening session. #HLTH #Healthcare #Innovation

Workforce challenges are a critical issue in healthcare today. Fortunately the needs of organizations and aspirations of the workforce are converging. This article explores the future of work with the emergence of on-demand expertise and the freelance economy, and it draws on lessons learned from the office space industry. #innovation #healthcare #officespace #futureofwork

The case for #ROV (instead of #ROI) in healthcare It is clear that new technologies and interventions are facing headwinds. I frequently talk about the need to measure the success of these projects by looking at Return on Investment (ROI), traditionally a favored executive measuring stick. Much of the pushback I’ve received has been from clinicians, who often feel like distilling healthcare success and failure down to short term profit and loss defiles the healthcare mission. As my smart friends have pointed out, while ROI may be useful for measuring short-term financial impact, it often misses other important effects of healthcare projects that don’t show up until the medium or long term. Things that may not be measurable at all by traditional metrics. Return on Value (ROV) looks beyond just financials. It accounts for both qualitative and quantitative benefits, including patient outcomes, operational efficiency, staff satisfaction, and community impact. ROV gives a complete view of a project's overall impact, and can be aligned with the needs of all key stakeholders. ROV also aligns well with value-based care and Quintuple Aim goals: better patient experience, improved population health, lower costs, better work life for healthcare providers, health equity. Traditional ROI often misses many of these important aspects. Lastly, projects assessed with ROV are more likely to be sustainable over time because they focus on creating long-term value instead of just short-term gains. To successfully bring ROV into your project evaluations, consider these steps: ✅ Define Clear Metrics: Figure out the key value indicators that align with your organization’s goals. ✅ Engage Stakeholders: Get everyone involved early and often, including patients, providers, and payers, to gather diverse perspectives on value. ✅ Data Collection: Use strong data analytics to track and measure outcomes based on value. ✅ Continuous Improvement: Regularly review and adjust your metrics to keep up with changing priorities and new insights. Shifting from ROI to ROV is more than just changing metrics; it's a fundamental shift in mindset. ROV encourages healthcare organizations to look beyond financials and focus on creating sustainable, value-driven improvements. By embracing this new approach, we can ensure our projects not only succeed financially but also deliver meaningful, long-lasting benefits to patients, staff, and the broader community. Let’s embrace ROV and pave the way for a more holistic and value-driven future in healthcare. #HealthcareInnovation #ReturnOnValue #ReturnOnInvestment #DigitalHealth #ValueBasedCare #HealthcareTransformation

The AI Scribe Wars have hit critical mass--AI scribes have raised hundreds of millions of dollars in 2024--and we're seeing a major land grab unfold in the space. Here's a quick lay of the land + key positioning based on conversations I've had with folks in the space. Much of the summarization, aggregation, tech pieces are commoditized table stakes at this point. Plus, there's plenty of noise introduced into the space on a daily basis as every 'AI-enabled' company whips up a new offering. How do you differentiate then? With the commoditization problem, AI scribes are differentiating themselves on👇 - channel partnerships & distribution; EMR alignment - downstream partnerships and tech (nudges, RCM integration etc) - quality and integrity of data/LLMs - and, of course, brute force (e.g., who has the most money..duh) Specific players to call out: 1. Nuance Communications: Microsoft acquired the 800 lb gorilla for ~$20B, attributing half of the value at the time to opportunities within healthcare. Nuance's products in the AI scribe space are a major path forward for the company and though it's the highest priced option by a landslide, Microsoft's leveraging the product in an enterprise cross-selling strategy. Nuance is also aligned with Epic & is actively working within the Epic ecosystem on AI solutions. 2. Augmedix, the only publicly traded company in the space and one of the first movers (they originally used Google Glass to help physicians with dictation and documentation!) Augmedix has released a breadth of products and holds a major partnership opportunity with HCA. 3. Abridge is the up and comer in the space, recently raising $150M+, aligning deeply with Epic, getting funding from major sources like Nvidia, and seemingly announcing a new health system partnership every week. Integration advantages with Epic are a key strategy for the Abridge team. 4. Other notable players include Nabla & Ambience Healthcare. Key trends to watch: - Keep an eye on how EMRs react to AI scribes. Will they have a preferred vendor of choice, create their own white-labeled solutions, or do a combo of the 2? - What is actual adoption looking like; how many physicians or clinicians are onboarding and using the tech? - Who's paying for the tech, does it drive tangible value for clinicians or not? (I think the value pays for itself, but this is a consideration for health systems.) -Scribes will differentiate based on care setting, specialty focus, EMR alignment, customizable features, and integrations into downstream/upstream areas (RCM) and more. Time will tell, but for now, I'm keeping my eye on some of the largest AI scribes in the space (above). Let's see who comes out on top 🚀 If you enjoyed this post, subscribe to Hospitalogy; it's my biweekly newsletter devoted to healthcare industry news and analysis👇 https://lnkd.in/gnRAPUJr

We're live! Join the live stream, share your questions and hear from some amazing folks on bringing innovation into health care delivery systems. https://lnkd.in/eYEPk7Vv

Did you see the announcement yesterday? We're beyond excited to have Christopher Northam on our Expert Session next Friday! It's free to join, and should be packed with tons of value for anyone looking to bring new solutions to market with health systems. Register using the link below 👇

Want to know what it actually takes to partner with health systems as a digital health / tech company? AMBER B. FENCL's series From Pitch to Partner has engaged leaders inside the "4 walls of healthcare" to learn what it takes to go from pitch presentation to partnership. April 26th, she's bringing a new Live Session format to the public through the Care Transformation Studio for free. The session features some incredible panelists - Catherine Krna Christopher Northam Justin Mooneyhan Register now for the session and join us live on April 26th. Link in the comments 👇

We're back this week with another Expert Session hosted by AMBER B. FENCL 🙌 This week features James Barr, MD who serves as VP of Physician Value-Based Programs at Atlantic Health System. In this session, they discuss: ✅ Unburdening physicians and integrating technology into their workflow is essential for successful clinical innovation. ✅ Involving clinical partners in technology selection and design ensures that solutions meet their needs and pain points. ✅ Building relationships with vendors based on trust, understanding, and shared goals leads to strategic partnerships. Get notified when the session goes live, this Friday! 👉 https://lnkd.in/emUptb7Q #healthcare #innovation #digitalhealth

Today's the day! 🙌 Premiere starts in 30 mins with AMBER B. FENCL and Becky Fox. Check it out here : https://lnkd.in/emUptb7Q

Join us tomorrow, March 15, at 11:00 AM CDT when this session goes live!