Jeff Smith

It was a pleasure to talk with Minalkumar Patel about the distinct needs of ACOs and where we see the biggest opportunities to optimize data to benefit patient health and provider success. I am delighted to share our conversation and look forward to much continued discussion on this important area of innovation for our industry. #valuebasedcare #aco #healthtech

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Provider Data Management (PDM) is super important for both Payers & Health Plans (P1) & Providers & Hospital Systems (P2) - Why? An interesting article. Perfect 👍 & to-the point. Click the Link below 👇 Summary Mobilizing Big Data To Support Healthcare Providers Even at the best of times, managing provider data can be a complicated business. Say that each provider has around 140 data points. A practice with 10 providers and 20 health plan contracts might have to manage around 28,000 data points each quarter. Across the US, such information is gathered from over a million providers and from more than 6,000 hospitals and clinics. Health plans further transfer provider claims data to multiple downstream applications and provider systems. Talk to us on LowCode & AI Powered Newgen PLM / PDM Software Manish Jaiswal 646.644.3049 https://lnkd.in/ezwmRrKb

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I am grateful to Medical Economics for inviting me to explore the important topic of whether healthcare is shifting toward viewing the patient in the same light as a consumer. This conversation is crucial as we witness a significant evolution in the healthcare industry, where patient-centric approaches are becoming the norm. I am proud of the work we are doing at OneStep for the team's relentless focus on patient centricity. Healthcare is increasingly focusing on empowering patients, making health tech solutions more accessible and relevant. This shift not only improves patient outcomes and satisfaction but also fosters stronger engagement between patients and healthcare providers. By prioritizing patient needs, we are setting the stage for a more efficient and patient-focused future. #healthcare #healthtech #healthcareinnovation #patientcare #patientcentered #patientsatisfaction

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🚨 The Future of Healthcare Finance: Balancing Cost & Quality 🚨 Healthcare finance is at a critical crossroads. Rising costs, regulatory changes, and shifting patient expectations demand that organizations find new ways to balance cost control without compromising quality care. Here are 3 key strategies to navigate the road ahead: 1️⃣ Value-Based Care Models: The shift from fee-for-service to value-based care is pushing healthcare organizations to focus on patient outcomes rather than service volume. Embrace models like ACOs and bundled payments to improve efficiency and quality. 2️⃣ Leverage Technology: AI, automation, and telemedicine are transforming healthcare. These tools not only streamline operations but also enhance patient care while reducing administrative costs. 3️⃣ Operational Efficiency: Reducing administrative waste and adopting lean management practices can significantly cut costs without affecting patient outcomes. Optimize workflows and use data analytics to make informed decisions. The future of healthcare finance is challenging but full of opportunity. By investing in innovation and staying adaptable, organizations can thrive while delivering high-quality care. 💡 How is your organization preparing for the future of healthcare finance? Let's discuss strategies in the comments! 👇 #HealthcareFinance #ValueBasedCare #HealthcareInnovation #CostManagement #OperationalExcellence

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Health plan strategist and executive coach Dominick Bizzarro believes that an agile approach to strategic planning can help turn regulations like the CMS Interoperability and Prior Authorization Final Rule (CMS-0057-F) from something done TO you to something done FOR you. #Interoperability #digitalhealthinnovation

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Large Healthcare Technology Consulting Firms vs. Smaller Specialized Consultancies As I have discussed in previous posts, the field of technology consulting, and healthcare technology consulting in particular, is currently experiencing a downturn. Year-over-year revenues for healthcare consulting are declining, and this situation is especially challenging for smaller firms compared to their larger counterparts. Larger consultancies have the advantage of deeper cash reserves, allowing them to endure economic downturns with greater ease than smaller boutique firms. However, it is important to remember the reasons you have chosen to work with smaller firms in the past. Their specialized expertise in areas such as Revenue Cycle Management, Acute Care, or Clinical Systems Interoperability has been directly relevant to the specific issues you have encountered with your systems. Larger firms often apply generic solutions that may not be the best fit for your unique needs. Therefore, it is crucial to maintain relationships with your boutique vendors and support them whenever possible. If these specialized firms disappear, you might find yourself without the precise expertise you need when challenges arise.

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🤔Private Equity and Healthcare seem to have a complicated relationship. A recent PitchBook report reveals some intriguing insights about PE investments in healthcare. Despite the buzz, PE investment in healthcare providers remains a small slice of the pie, making up less than 4% of the U.S. healthcare provider market by revenue. Interestingly, the growth in PE-backed providers has significantly slowed over the past six years. 📉 The numbers tell a compelling story: year-over-year growth in the number of PE-backed healthcare companies has plummeted from nearly 25% in 2018 to under 1% in the first quarter of this year. In response, PE firms are pivoting from traditional provider investments to areas like healthcare IT and pharmaceutical services. 💡 While PE investments continue to face scrutiny regarding their impact on care quality and costs, it's clear that firms are innovating and finding new ways to contribute to the healthcare sector. For more detailed insights, read the full report here: https://lnkd.in/dmQkzMzh #HealthcareInvestment #PrivateEquity #HealthTech #HealthcareTrends #PitchBook Bjoern von Siemens Dennis Kogan Matt Krueger Amel Mokrani Bois Etienne Bauer Gargee Kashyap Emre kamil Özkan

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Really interesting article. ASC operations are proving crucial for the successful adoption of value-based payment systems and evolving healthcare as we know it. Strong operational foundations inherently lead to economic success and greater flexibility in adopting new care models, which in turn improves patient outcomes. #ASCs #Healthcare #PatientCare

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Today's healthcare CIOs are more than tech tacticians - they're enterprise strategists driving digital transformation. Read more to see how they balance innovation with strategic vision to revolutionize patient care - https://buff.ly/48naoK8 #Healthcare #Digital Transformation

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Understanding the distinct perspectives and strategies of providers and payers is crucial for effective negotiation and risk management. These insights can help providers and payers avoid common pitfalls, as well as highlight the importance of alignment between them. Looking forward to more insights from you and your team Joseph Rafferty. Teaming up with Michael McCabe is a smart move.

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#Digitalhealth experts discussed #AI, #womenshealth, and #VCinvestments at the Top of Mind Summit: Digital Health. 💡🌟 Interested in key takeaways from the event? Download the Center for Connected Medicine's recap report here: https://lnkd.in/eTky7Pk4

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We’re all too familiar with one of digital health’s most “popular” sore spots: point solution fatigue. I’ve even written about this for the Forbes Business Council (https://buff.ly/43ADMKt) With the rising demand for GLP-1s, buyers are looking for yet another solution to help mitigate rising costs. But have they considered taking a closer look at current vendors they may have to treat chronic or cardiometabolic conditions? For example, Omada Health has been working with members taking GLP-1s since 2019 at the launch of its diabetes program - and now has a GLP-1 Care Track available across its full cardiometabolic suite, which includes diabetes prevention, diabetes, and hypertension. Buyers should provide a program that takes more than just weight loss into account. They should consider MSK support, and sustainable outcomes (i.e. long-term support should members discontinue the drugs). We’re not here for a quick money grab, but to support members for long-term weight health. Learn more about Omada’s approach to GLP-1s: https://lnkd.in/gm77rfWk

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An interesting article that highlights the importance of aligning strategies with value-based care #VBC goals to enhance patient outcomes and operational efficiency. One critical aspect is #datadrivencare management. Utilizing analytics platforms to aggregate and analyze data from sources like electronic health records #EHRs allows for population health analysis, risk stratification, and tracking quality metrics, all of which contribute to improving care quality. Additionally, placing proactive #preventivecare at the center of your strategy is essential. Implementing wellness visits, chronic disease management, and timely immunizations can boost overall health while reducing long-term costs. Another vital factor is enhancing #carecoordination. Developing care transition protocols, streamlining provider communication, and creating multidisciplinary care teams help ensure a seamless patient journey and better outcomes. Furthermore, increasing #patientengagement and education plays a crucial role. Addressing #socialdeterminants of health is also key. Screening for social challenges, building a community resource database, and ensuring proper referrals and follow-ups are necessary steps to support overall patient well-being. Finally, building #partnerships and aligning incentives with payers, community organizations, and technology vendors is essential. Collaborative efforts to align goals, share data, and explore innovative solutions lead to better patient care and organizational performance. By integrating these strategies into your healthcare business approach, you can effectively align with VBC goals and enhance #patientcare. #healthcarestrategy #resourceoptimization #performanceincentives #stafftraining #healthcareinnovation #hbr #leadership #strategy #lifelonglearner #digitaltransformation #innovations

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Healthcare at a Crossroads: It's Time to Reset Your Strategy The recent pullback of major players like Walmart and Walgreens from ambitious healthcare ventures underscores a critical truth: the current healthcare model needs a major rethink. In this article, @Kaufmann-Hall explores why traditional "be-everything-to-everyone" strategies are no longer sustainable for health systems. Here are the key takeaways: The Model Needs Rethinking: Rising costs, complex services, and uncontrollable pricing challenge traditional healthcare economics. Disruptors are leaving the market, highlighting the need for a new approach. Not-For-Profits Must Step Up: Unlike for-profits, non-profit health systems can't simply walk away. They must embrace strategic choices for long-term success. Strategy is Key: Making difficult choices and executing a clear strategy is crucial for differentiation and fulfilling your mission. Crafting a Winning Strategy: The article dives deep into how to develop a winning strategy: https://lnkd.in/eHWf7ZMy Define Your Value Proposition: What makes your health system unique? Who are you trying to serve best? Set Priorities: Focus on initiatives that differentiate you, not incremental changes. Align Your Organization: Ensure your chosen direction supports your operating model, governance, and talent. Taking Action: The article concludes with key questions to guide your strategic reset: Does your strategy align with your actions and priorities? Do your offerings resonate with your target markets? Are you equipped to execute your strategic vision? Ready to Reset Your Healthcare Strategy? (https://suretest.health) #healthcare #strategy #leadership #healthcaretransformation

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What are the top 10 digital returns on investments for health systems? This article from Becker's Healthcare shares how healthcare leaders are measuring ROI on digital health platforms and where the biggest ROI opportunities lie. #DigitalHealth #HealthcareLeadership #Innovation #WittKieffer

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I am both enthusiastically and cautiously optimistic about the opportunity of #AI in health and human services.  #AI can improve all aspects of care delivery, from administration to direct care; potentially lowering costs, improving productivity, and improving outcomes.   Ethical considerations around data privacy, bias in algorithms, and patient safety are important considerations. All stakeholders will need to come together to ensure reliability and trust in emerging #AI applications. 

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Key trends and takeaways from HLTH 2024: 1. AI's Evolving Role: AI dominated discussions, with executives acknowledging its potential while also recognizing challenges in accuracy and clinician trust. There's a shift towards focusing on the practical applications of AI, with a call for partnerships to ensure reliable testing and implementation. 2. Infrastructure Focus: Beyond the glitzy AI tools, there's a growing emphasis on the "picks and shovels" needed for healthcare data accessibility, including infrastructure, compliance, and interoperability. Executives believe that improving data flow will facilitate the effective use of AI. 3. Middlemen Under Scrutiny: Pharmacy benefits managers (PBMs) faced criticism for their role in rising drug costs, with discussions highlighting misaligned incentives and the need for transparency in healthcare pricing. 4. Women's Health Spotlight: Women's health initiatives gained attention, particularly following government funding announcements and personal stories shared by advocates. However, investment in women's health remains minimal compared to overall healthcare funding. 5. Interest in Psychedelic Medicine: The potential of psychedelics for treating mental health conditions garnered significant interest, with discussions about funding and research moving forward, especially within the Veterans Affairs system. Executive Takeaways: Leaders from various sectors emphasized the importance of consumer-focused strategies, collaboration, and the need for responsible AI usage. There was a consensus on the critical role of addressing healthcare accessibility, improving patient experiences, and fostering innovations that genuinely enhance care delivery.

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