Issue #263: Verily unveils new chronic care platform, 2024 a big year for healthcare AI companies, and more
Damo Consulting Inc.
Digital transformation advisory services to enable healthcare organizations navigate the technology-enabled transitions.
Editor’s note
The Damo and BigRio research and insights team brings you this weekly newsletter. You can subscribe to receive it directly in your inbox on Mondays.
Digital Health in the News
Alphabet's Verily unit has unveiled a new chronic care management solution, and the team views the offering as the "next generation" of its precision health work. FIERCE Healthcare
The AHA and National Rural Health Association are also onboard for the initiative, which will offer grants, free endpoint security advice and other resources for critical access and emergency hospitals. Healthcare IT News
South Florida-based Mount Sinai Medical Center announced a new remote patient monitoring and chronic care management partnership with HealthSnap, a Miami-based virtual care management platform. The partnership is aimed at improving outcomes among the health system’s Medicare population. MedCity News
Clinicians now spend an average of 60% less time on documentation outside of work hours, and doctors saw a 40% decrease in physician burnout rate since deploying Abridge, Christus Health executives said. FIERCE Healthcare
Large language models can enhance data and analytics work by helping humans prepare data, improve models, and understand results. MIT Sloan Review
Insights & Research
So far, in 2024, $2.8 billion has already been invested in AI healthcare companies, with SVB projecting the sector to see $11.1 billion in VC capital deployed this year, the highest it has been since 2021. FIERCE Healthcare ?
National health expenditures will rise to $7.7 trillion and comprise nearly one-fifth of the U.S. economy by 2032, according to the latest projections from the Centers for Medicare and Medicaid Services Office of the Actuary. Modern Healthcare
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Other Stuff We’re Reading
Despite challenges such as data privacy concerns and the need for seamless integration into existing systems, the trajectory of AI development in healthcare is promising as tools continue to improve, says Alex Mason of FTV Capital. Healthcare IT News
Research by BCG shows that workers who spend too many hours on tasks they dislike (“toil”) are at risk for quitting, and employees who spend sufficient time on work that creates joy are less of a flight risk. A study of the consulting firm’s administrative employees demonstrates how they can use AI to reduce time spent on toil and increase time on joy-creating tasks. The research also explores the key factors that drive successful gen AI adoption; the main finding is that having a manager who is immersed in using AI will drive employee engagement with the technology. HBR
Digital Health Funding and M&A
Medical supplier Better Health has raised $14 million in a strategic funding round backed by CareFirst BlueCross BlueShield’s venture capital arm, Healthworx. FIERCE Healthcare
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