In November, President Biden signed a new Executive Order – titled “Safe, Secure, and Trustworthy Artificial Intelligence” – that promises to introduce new national AI regulations that focus on safety and responsibility in the use of this revolutionary new technology. Fast on the heels of this high-profile EO, the Biden Administration has already started the process of writing actual standards for the safe use of generative AI by announcing that the U.S. Department of Commerce. In late December, the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) announced a deadline of February 2, 2023, to receive input from the public on federal guidance for testing and safeguarding AI systems.

This represents significant interest by the federal government on AI. The question is: What does this mean for healthcare?

New standards, for one. By including healthcare in this broad new EO, the Biden Administration is signaling very clearly that health systems should expect new safety, security, and equity standards for AI very soon.

More broadly, the Biden EO reflects a transformative moment for the entire healthcare industry. The use of AI has brought us to a before-and-after moment. We have now entered the era of “Ethical AI” – a period of healthcare technology where our use of AI must be matched by our commitment to patient care and comport with the new standards being established by the government. Our ability to meld these influences will determine the degree to which the healthcare industry will benefit from the revolutionary potential offered by the use of AI.

Privacy and cyber security are two areas of concern cited by healthcare leaders in any discussion of AI. Is there an approach that aligns with the EO’s mission to enhance privacy while still enabling clinical efficiency? Can we protect patients’ most valuable information – such as electronic personal health information (ePHI), which is a primary target for cybercriminals – and still provide top-quality care?

Let’s take a closer look to find out.

The EO and NIST

To fully grasp the origins of President Biden’s EO, it’s important to understand the NIST-AI Risk Management Framework (RMF) AI-100-1. As stipulated within the National Artificial Intelligence Initiative Act of 2020 (P.L. 116-283), the RMF aims to serve as a resource to organizations utilizing AI systems and hopefully help manage the many risks of AI and promote trustworthy and responsible development and use of AI systems. 

For healthcare, the EO and RMF provide a useful dual framework for enhancing privacy when using AI. The standards outlined in NIST AI-100-1 provide guidance for getting visibility into the life of ePHI. These steps include: meticulously tracking where it resides, learning how it’s transmitted, and maintaining a detailed log of access details. The EO and NIST both encourage cutting-edge encryption methods and secure data transmission to safeguard patient information. This means healthcare leaders should be placing privacy at the forefront of our AI solutions.

A Blueprint for Executive Assurance

To navigate the complexities of AI integration with confidence, healthcare executives can use the EO and NIST frameworks to vet AI tools that help them ensure compliance while delivering reliable performance. The following are traits to look for in AI solutions designed to promote privacy and cyber protection:

• Valid and Reliable: AI solutions should guarantee the validity and reliability of healthcare insights, providing executives with a foundation of trust in decision-making.
• Safe: By prioritizing patient safety, AI applications should minimize risks and ensure that safety protocols evolve with the dynamic healthcare landscape.
• Secure and Resilient: Robust security measures fortify healthcare data, guaranteeing integrity and confidentiality. AI systems should adapt to emerging threats, enhancing resilience and securing data transmission within health systems.
• Accountable and Transparent: AI models should be designed for executive understanding, providing detailed logs of ePHI access for transparency and accountability.
• Explainable and Interpretable: Recognizing the need for interpretability, AI models should be deliberately designed to be explainable, allowing executives to confidently interpret AI-generated insights.
• Privacy-Enhanced: The EO’s commitment to privacy requires visibility into ePHI, actively managed access, and transmission in alignment with NIST AI-100-1 standards.
• Fair: Actively addressing biases, AI models should promote fair treatment across diverse patient populations, fostering healthcare equity and inclusivity.

Elevating Executive Assurance through Ethical AI

Health systems create a strategic advantage by deploying AI tools for adaptability and compliance. One significant area where AI can be leveraged for adaptability is in privacy-promoting solutions where AI is not only more resilient at adapting to evolving regulations and changing uses for patient data. This puts healthcare executives in a position where compliance does not become a mere checkbox but an ongoing commitment to ensuring they can navigate regulatory changes and new ways of using their most critical data assets.

Responding to the Biden EO and the need for privacy protections requires healthcare executives to navigate directly at the intersection of healthcare and AI. By deploying the right AI systems, these organizations can achieve unparalleled visibility into ePHI, secure data transmission, and adhere to NIST AI-100-1 standards. This positions them to lead confidently in a digital era where technology aligns seamlessly with the principles of patient-centric care and regulatory excellence.

About David Ting

David Ting, Tausight Founder & CTO, was the co-founder and former CTO of Imprivata and a former appointee to the U.S. Department of Health and Human Services Health Care Industry Cybersecurity Task Force. David has more than twenty years of experience developing identity and security solutions for government and enterprise environments. David holds twenty-two US patents, with additional pending.

While at Imprivata, Ting built the technology behind the OneSign solution used extensively in healthcare. As director, he oversaw Imprivata’s evolution from a venture backed startup to a public company and subsequent private acquisition in 2016. Ting has more than twenty years of experience developing identity and security solutions for government and enterprise environments. In 2016, he was appointed by the U.S. Department of Health and Human Services to the Health Care Industry Cybersecurity Task Force, authorized under the Cybersecurity Information Sharing Act of 2015. Ting helped draft the recommendations for securing healthcare in the Cybersecurity Task Force Report submitted to Congress in 2017. 

What You Should Know:

– The US healthcare industry, after weathering a storm of inflation, labor shortages, and lingering COVID-19 impacts in 2023, is now showing signs of a promising rebound, according to a new report by McKinsey & Company.

– The McKinsey report predicts accelerated transformation efforts and strategic shifts will unlock new growth opportunities in key segments, while others face continued challenges. Let’s delve into the projected trajectory of different healthcare players in the coming years:

Healthcare Profit Pools

Healthcare profit pools will grow at a 7% CAGR, from $583B in 2022 to $819B in 2027. The report finds profit pools continued under pressure in 2023 due to high inflation rates and labor shortages; however, we expect a recovery beginning in 2024, spurred by margin and cost optimization and reimbursement-rate increases.

Payers:

• Medicare Advantage on the Rise: Expect a surge in the Medicare Advantage population, particularly among duals eligible for both Medicare and Medicaid. This shift fuels a 5% CAGR for payer profit pools, reaching $78 billion by 2027.
• Commercial Segment Recovers: Commercial market margins are projected to reach pre-pandemic levels by 2027, buoyed by inflation-driven premium increases and cost-cutting measures. However, a potential economic slowdown could lead employers to shift towards self-insured plans, impacting fully insured enrollment.

Health Systems:

• Transformation Fuels Recovery: Cost containment efforts and revenue diversification strategies implemented by health systems are expected to propel an 11% CAGR in profit pools, reaching $366 billion by 2027. Reimbursement rate increases are anticipated to further bolster financial health.
• Post-Acute Care Lags: Skilled nursing and long-term care facilities could face continued profit pool contraction due to labor shortages, particularly in nursing roles.
• Site-of-Care Shift: Outpatient settings like physician offices and ambulatory surgery centers are poised for growth as healthcare delivery moves away from traditional acute care settings.

Healthcare Services and Technology (HST):

• Tech Champions Growth: HST profit pools are predicted to be the fastest-growing segment, with a 12% CAGR between 2022 and 2027. Software and platforms, data and analytics solutions are at the forefront of this expansion due to their measurable efficiency improvements.
• Payers and Systems Drive Demand: Continued demand from payers and health systems seeking to boost efficiency and adopt new technologies like generative AI will fuel HST growth.

Pharmacy Services:

• Specialty Pharmacy Soars: This booming subsegment is expected to account for nearly 50% of prescription revenue by 2027, driven by utilization increases, expanding treatment pipelines, and higher pricing.
• Retail and Mail Challenges: Traditional pharmacies face margin pressure and profit pool contraction due to reimbursement challenges, labor shortages, and plateauing generic dispensing rates. Increased focus on alternative service offerings like healthcare provision could be key to their future success.

Overall Outlook:

While some segments like post-acute care and retail pharmacies face hurdles, the healthcare industry as a whole is poised for a period of growth and transformation. By embracing technology, adopting value-based care models, and diversifying revenue streams, healthcare players can navigate the evolving landscape and unlock new opportunities for financial stability and improved patient care.

Artificial intelligence (AI) can be a sensitive subject for some healthcare professionals, and rightfully so. It was not too long ago that IBM’s Watson supercomputer won on “Jeopardy!” The hype and hubris that followed led to one of the great all-time examples of technology that some might say over-promoted and under-delivered. However, in the years that followed, AI, such as machine learning (ML), has managed to integrate into all facets of healthcare research and analysis. Some of the resulting breakthroughs are beginning to transform the way new therapies are developed and diseases are treated.

That phenomenon is having a huge impact in the field of neurology. Due to the unique nature of the field, and the largely unstructured manner in which patient data and disease progression are coded and tracked by clinicians, AI has become vital to unlocking insights that were never before possible.

Cracking the Code on Multiple Sclerosis

Looking at multiple sclerosis (MS) as an example, the three-character ICD-10-CM code, G35, is the only industry standard identifier universally used by clinicians to identify the condition. Unlike more structured datasets, such as those that are commonly found in ophthalmology, where—for example—a single condition like diabetic retinopathy will have 360 different ICD-10-CM codes tracking all manner of disease severity and progression, the neurology dataset is incredibly subjective. It does not take into account the myriad of symptoms, details about disease severity or progression or subtypes, or the unique patient journeys that real-world patients experience. Instead, the detailed experiences of patients with MS are largely captured in unstructured clinical notes that are keyed into the free text notes section of electronic health records (EHRs). 

Utilizing standard coding, like the ICD-10 system, and even alternative clinical terminologies such as SNOMED-CT, to identify the existence of a condition, is an important datapoint. It defines the “what” of a disease. But for many complex conditions, such as MS, understanding the next level of detail helps to contextualize the “why” around a disease. Unlocking the “why” behind the diagnosis or treatment are areas where advanced AI techniques can provide a huge spectrum of valuable information around the disease manifestation and progression.

Until very recently, attempts to extract these types of meaningful insights from unstructured datasets were only achievable through labor-intensive, manual searches in which teams of analysts with enough clinical expertise to understand and interpret clinical notes—often nurse practitioners or doctors in training—would pore over several entries searching for clues. The model was not particularly efficient and not at all scalable. Worse, the data would become stale the minute the manual extraction was completed.

A Data-Driven Approach to Clinical Development 

AI-powered large language models have helped to address these issues. With ML algorithms, it is possible to train models to continually track and analyze EHR data for hundreds of thousands of patient encounters to extract key information from clinical notes. Perhaps, more importantly, by carefully curating that data to flag keywords and patterns of language consistent with certain clinical cues, it has become possible to develop a new data-driven taxonomy for understanding neurological disease progression, treatment and outcomes.

Today, clinical development teams at the world’s leading life sciences companies are using these algorithms to instantly scour thousands of de-identified patient records to categorize the primary MS disease subtypes—relapsing-remitting MS (RRMS), secondary progressive MS (SPMS) and primary progressive MS (PPMS)—along with two common precursors to MS, clinically isolated syndrome (CIS) and radiologically isolated syndrome (RIS), by parsing data that was previously buried in EHR clinical notes. The process works by codifying language commonly used to describe these various disease progression milestones, such as “patient experiencing relapse” or “patient started using walker,” with real-world patient experiences to create a standard set of benchmarks. 

By tracking these variables over time, and combining them with treatment information and patient encounter data, researchers are developing a clear, data-driven picture of disease progression and patient experience that inform a more targeted approach to treatment, clinical development and health economics and outcomes research (HEOR) strategies.

Believe the Hype

This approach is currently being deployed in all areas of neurology. With Parkinson’s disease, for example, researchers are now able to efficiently extract the cardinal signs of disease progression from hundreds of thousands of individual clinical notes. For Alzheimer’s disease, researchers are able to identify key variables from neurological tests and cognitive function exams that may hold the clues to future treatments.

Admittedly, these real-world use cases for AI in healthcare are not quite as simple as the bold pronouncements we heard a few years ago that AI would cure cancer. However, over time, the technology has made it possible to unlock new insights and dramatically speed the clinical research process, driving faster drug development and better therapies. 

About Lawrence Whittle

Lawrence Whittle is president of Verana Health. Lawrence is responsible for driving market positioning and customer success. His remit spans a multitude of stakeholders, leading the healthcare clinician experience, medical society engagement, and life sciences collaborations, as well as the marketing and quantitative sciences functions to elevate awareness and value across the care continuum.

Lawrence has 25+ years experience as a senior executive within technologies companies spanning different industries, including Data Analytics and Life Sciences. His deep expertise in commercialization has covered elevating company positioning, driving sustainable customer value through deep in-market partnerships, and nurturing strong collaborations across all key functions of the business. His experience in early- and mid-stage companies has resulted in two IPOs and two M&A transactions.

What You Should Know:

– Clarivate Plc, a provider of trusted information and insights, today unveiled its highly anticipated 2024 Drugs to Watch report, shining a spotlight on 13 cutting-edge therapeutics poised to revolutionize healthcare in the coming year.

– These promising drugs span a diverse range of conditions, from debilitating diseases like sickle cell anemia and multiple myeloma to common ailments like chronic obstructive pulmonary disease (COPD) and age-related macular degeneration (AMD).

Top 13 Drugs to Watch in 2024

The 2024 Drugs to Watch, are:

– Aflibercept (high dose): Less frequent injections for treating AMD, DME, and DR, potentially reducing treatment burden.

– Budesonide (TARPEYO®/Kinpeygo®/Nefecon): Improved treatment for primary immunoglobulin A (IgA) nephropathy with better safety profile than conventional corticosteroids.

– Datopotamab deruxtecan (Dato-DXd): Potential best-in-class TROP2-targeted ADC for breast cancer and non-small cell lung cancer.

– Efanesoctocog alfa (ALTUVIIIO™/BIVV001): First once-weekly factor VIII replacement therapy for hemophilia A, offering improved convenience.

– Ensifentrine (RPL554): First inhaled dual PDE3 and PDE4 inhibitor for COPD, potentially reducing exacerbations with fewer side effects.

– Exagamglogene autotemcel (CASGEVY™ /exa-cel) and lovotibeglogene autotemcel (LYFGENIA™/lovo-cel): Groundbreaking gene-editing therapies for sickle cell disease and beta-thalassemia, offering potential cures.

– Mirikizumab (Omvoh™/ LY-3074828): First-in-class therapy for ulcerative colitis and potential third-in-class option for Crohn’s disease.

– Niraparib + abiraterone acetate (AKEEGA™): First dual-action tablet for deleterious or suspected deleterious BRCA-mutated metastatic castration-resistant prostate cancer.

– RSVpreF (ABRYSVO™/PF-06928316) and RSVpreF3 (AREXVY/GSK-3844766A): First RSV vaccines for infants and older adults, addressing a major public health concern.

– Talquetamab (TALVEY™): First-in-class bispecific antibody for multiple myeloma, offering a new treatment option for heavily pretreated patients.

– Zolbetuximab (IMAB362): First-in-class claudin 18.2 inhibitor for HER2-negative metastatic gastric or gastroesophageal junction adenocarcinoma, addressing a significant unmet need.

Beyond the Drugs

The report also highlights the growing influence of new technologies like CRISPR-Cas9 gene editing and AI/ML in the drug development process. These tools hold immense potential to accelerate innovation and bring life-saving therapies to patients faster.

“This year’s Drugs to Watch report showcases the incredible advancements taking place across the pharmaceutical landscape,” says Mike Ward, Global Head of Thought Leadership, Life Sciences and Healthcare at Clarivate. “New modalities like antibody drug conjugates and AI-powered tools are fueling medical breakthroughs, offering hope to patients with previously unmet needs.”

What You Should Know:

– In a move aimed at alleviating Arizona’s critical shortage of healthcare providers, Spectrum Healthcare, one of the state’s largest non-profit healthcare providers, has joined forces with NextGen Healthcare, a provider of cloud-based technology solutions.

– This strategic partnership marks a significant step towards improving access to integrated mind-body care for Arizonans, particularly in underserved communities.

A Growing Need for Whole-Person Care

Arizona faces a stark reality: 82 areas in the state lack adequate medical resources, and over 2.8 million residents live in communities struggling with a dearth of mental health professionals. Spectrum Healthcare, dedicated to serving these very communities for nearly six decades, understands the urgency of the situation.

“We are committed to providing accessible, whole-person care to all Arizonans,” says April Rhodes, CEO of Spectrum Healthcare. “Partnering with NextGen Healthcare allows us to leverage innovative technology solutions to elevate our care delivery and address the critical shortage of healthcare providers.”

Technology as the Bridge

NextGen Healthcare’s suite of cloud-based solutions, including the NextGen® Enterprise electronic health record (EHR), practice management (PM), and Population Health Solutions, will equip Spectrum Healthcare with powerful tools to streamline operations, improve interoperability, and optimize clinical and financial performance. This, in turn, translates into better resource utilization and the potential to reach more patients, particularly in underserved areas.

“Spectrum Healthcare’s dedication to serving their communities aligns perfectly with our mission to empower healthcare providers through innovative technology,” says Srinivas (Sri) Velamoor, President and Chief Operating Officer of NextGen Healthcare. “Together, we are confident in making a lasting impact throughout Arizona by creating greater access to care.”

Beyond Technology: A Holistic Approach

Spectrum Healthcare’s commitment to whole-person care extends beyond technology. In addition to its seven brick-and-mortar locations across Arizona, the organization offers telehealth and in-home services, operates mobile crisis teams, and partners with local schools to provide on-campus student care. This comprehensive approach ensures that vulnerable populations have access to the full spectrum of healthcare services they need, regardless of their location or circumstances.

What You Should Know:

• In a significant leap forward for inpatient care, Caregility is proud to introduce a new class of adaptive telehealth edge devices designed to seamlessly support hybrid care models that bring remote clinicians and artificial intelligence (AI) capabilities into bedside workflows at the point of care.
• The groundbreaking APS200 Duo is the company’s first dual-camera, all-in-one system with onboard edge computing and a powerful dedicated graphics engine. The APS200 Duo includes a wide-angle camera for remote patient observation and a high-definition 40x power zoom camera for virtual nursing programs and remote patient examinations.

Revolutionizing Inpatient Care: Next-Gen Telehealth Devices for Seamless Virtual Clinical Interactions

The redesigned APS100 Pro, a second-generation all-in-one system with a wide-angle camera for remote patient observation, can be expanded with the APS FlexCam—a high-definition 40x power zoom video camera for virtual nursing programs. Both devices support flexible wiring options, including Power-Over-Ethernet (PoE+).

These advanced telehealth edge devices, tailored for inpatient settings, not only offer superior audio and video capabilities but also address clinical staffing shortages and enhance patient monitoring with AI-driven insights. They integrate with the Caregility Cloud™ virtual care platform, supporting various clinical applications. Multiple audio and video streams facilitate concurrent workflows like continuous remote patient observation and specialty consultations.

The AI-enhanced devices enable seamless virtual clinical interactions, improving efficiency and quality of patient care. Dual-camera configurations allow for virtual encounters and AI-supported continuous patient monitoring simultaneously, aiding in faster intervention. Advanced microphone arrays and high-quality speakers enhance realistic encounters and support AI applications like ambient documentation.

The APS200 Duo, APS100 Pro, and APS FlexCam mark a significant advancement in hospital-based telehealth, supporting patients and acting as a workforce multiplier. Key features include built-in edge computing, versatile connectivity options, dual HD cameras with 1080p resolution, 40x power zoom, 5x wide-angle field of view, night vision, and seamless integration with various systems.

These FDA-registered Class 1 medical devices can integrate with digital TVs and Interactive Patient Console systems, optimizing space. The Caregility devices include a wall-mounted vLert button for initiating on-demand sessions with virtual clinicians. Every device is self-healing, proactively monitored, and remotely managed for reliability.

OhioHealth implemented 66 APS100 Pro devices in its Patient Room of the Future initiative at Pickerington Methodist Hospital, showcasing early market adoption in scaling AI-enabled telehealth cost-effectively to every patient room.

“From ordering meals to watching educational videos and managing medication schedules, the intuitive technology aims to provide a more personalized hospital stay,” said Tom Gutman, OhioHealth Senior Consultant of Learning Simulation. “The addition of a camera above the TV allows patients to speak virtually with nurses, specialists, or family members. The positive impact is evident to both staff and patients alike.”

What You Should Know:

• ShiftMed, the leader in on-demand workforce technology, announces today the launch of ShiftAdvisor, a new AI-powered feature set to transform nurse scheduling and elevate the staffing efficiency of healthcare facilities.
• This solution is designed to benefit both healthcare professionals (HCPs) and facilities by optimizing shift scheduling, ensuring providers find the best shifts with minimal cancellation risks, and simultaneously enabling facilities to achieve optimal staffing levels.

AI-Powered ShiftAdvisor Delivers Tailored Recommendations for Professionals and Facilities

Healthcare professionals who have completed a minimum of four shifts using the application will now receive tailored shift recommendations based on their individual preferences for day, time, pay, and location. ShiftAdvisor introduces an efficient approach to shift selection by utilizing AI algorithms that seamlessly align with the unique skills and financial objectives of healthcare providers (HCPs), thereby optimizing their earning potential. The system offers a personalized shift recommendation feature, serving as both a time-saving tool and a strategic aid for providers to enhance their work schedules.

Through the receipt of AI-powered suggestions tailored to their distinct preferences, HCPs can make well-informed decisions, leading to a more satisfying and financially rewarding experience. This emphasis on personalization grants providers greater control over their schedules within the app, simplifying the process.

Simultaneously, healthcare facilities benefit from an intelligent system that minimizes the likelihood of last-minute cancellations, resulting in improved operational efficiency and cost savings. This dual-benefit approach underscores ShiftMed’s commitment to delivering user-centric solutions, ensuring a streamlined scheduling experience for both healthcare professionals and facilities on the platform. ShiftMed’s dedication to innovation in workforce management is evident in this latest development, highlighting its capability to provide cutting-edge solutions for both healthcare professionals and facilities. This is further emphasized by the company’s notable growth and strategic collaborations, including partnerships with esteemed institutions such as SSM Health, Hennepin Healthcare, and Presbyterian Healthcare Services.

“The customized shift suggestions in ShiftAdvisor is a targeted tool designed to meet the specific needs of our HCPs and enhance their experience on the ShiftMed platform,” explained Todd Walrath, CEO of ShiftMed. “Our commitment to improving the state of the healthcare workforce is evident in this new feature, which not only empowers users but also delivers added benefits to our facility partners. ShiftAdvisor exemplifies our dedication to creating a platform that caters comprehensively to healthcare professionals’ diverse and evolving needs.”

What You Should Know:

Graphium Health, a leader in anesthesia technology solutions, has acquired The ABG Anesthesia Data Group, LLC (ABG). This strategic acquisition signifies Graphium Health’s unwavering commitment to improving patient safety and practice efficiency through innovative data management tools.

Simplifying Quality Reporting, Enhancing Care:

The ABG platform, renowned for its user-friendly interface, simplifies complex quality reporting requirements, particularly for the MIPS program. This empowers anesthesiologists, CRNAs, and CAAs to seamlessly integrate quality improvement initiatives into their daily workflow, ultimately enhancing patient care.

Beyond MIPS: A Holistic Approach to Anesthesia Excellence:

Graphium Health plans to integrate the ABG QCDR into its existing suite of solutions, creating a comprehensive platform that goes beyond MIPS compliance. This enhanced platform will offer:

• Quality Improvement (QI) and OPPE reports: Empowering providers to track progress and meet Joint Commission standards.
• Customizable QI bonus plans: Allowing practices to incentivize quality initiatives.
• MIPS-compliant patient experience surveys: Gathering valuable feedback to improve patient satisfaction.
• Industry-leading operational analytics: Providing real-time insights into surgical efficiency, throughput, and resource utilization.

Empowering Providers, Transforming Surgery:

By offering this comprehensive suite of tools and data-driven insights, Graphium Health empowers hospitals, anesthesiologists, and all surgical staff to:

• Track and measure quality metrics effectively: Ensuring consistent adherence to best practices.
• Improve the overall surgical patient experience: From streamlining workflows to fostering patient satisfaction.
• Navigate evolving regulatory landscapes with confidence: Adapting to changing CMS programs with ease.

A Shared Vision for Anesthesia Excellence:

“This acquisition is a testament to our unwavering commitment to advancing anesthesia quality and safety,” says Daniel Dura, CEO of Graphium Health. “By combining our expertise with ABG’s innovative platform, we create a powerful solution that empowers providers and elevates the entire surgical experience.”

What You Should Know:

• Carallel, the leading provider of holistic support, guidance and assistance for family caregivers, and myFloc, an AARP Innovation Labs portfolio company that connects family, friends and caregivers on a common expense platform, today announced a strategic partnership to tackle some of the most complex challenges that come with being a family caregiver.
• Caregivers help their loved ones in a variety of ways, from health advocacy (56%) to monitoring health conditions (71%) to managing activities of daily living (60%), according to a 2020 AARP report. But, beyond these well-recognized responsibilities, nearly all (92%) caregivers are also financial caregivers. They help manage their loved one’s money and other assets and help with everyday financial matters.

Empowering Holistic Care: Carallel and myFloc Partnership

Managing finances can be intricate and emotionally charged, leading to conflicts among family members. Adding to the complexity is the rising prevalence of elder financial exploitation, as highlighted in a 2022 AARP report that revealed a more than twofold increase since the onset of the COVID-19 pandemic in 2020.

The partnership between Carallel and myFloc combines top-notch solutions to simplify caregiving. Caregivers on the Carallel platform now have seamless access to myFloc, easing financial challenges for family, friends, and non-kin caregivers.

Carallel and myFloc eagerly anticipate extending these enhanced benefits to customers, offering a comprehensive solution through a single contract to empower employees, members, and clients. MyFloc’s financial platform, designed for older adults and caregivers, features a prepaid debit card-based system. This system allows care recipients to maintain financial autonomy, monitor expenditures, and seek assistance on their terms. Moreover, care recipients can invite selected team members to use myFloc cards, complete with specific controls, permissions, and notifications, with the option to provide visibility into the entire myFloc account.

“Managing a loved one’s finances and dealing with day-to-day expenses is incredibly challenging for reasons that go well beyond the math,” said Shara Cohen, CEO of Carallel. “We hear from caregivers every day struggling within their families about this topic, worrying that their loved one is being taken advantage of or trying to protect against scams. myFloc offers a really important solution for this all-too-common challenge.”

What You Should Know:

– Harris, a global leader in vertical market software, has acquired the Medstreaming software suite from Fivos. Financial details of the acquisition were not disclosed.

– The acquisition of Medstreaming by Harris signifies a positive step towards streamlined, efficient, and ultimately, improved cardiovascular and vascular care. By giving healthcare providers the tools they need to focus on what matters most – their patients – this innovative software promises a brighter future for both practitioners and the individuals they serve.

Simplifying the Vascular and Cardiac Care

Traditional documentation methods in vascular and cardiac care often involve tedious data entry and dictation, slowing down workflows and creating potential for errors. Medstreaming breaks through this barrier with its innovative software. By utilizing structured data and interactive visual tools, it streamlines studies and procedure documentation, eliminating the need for manual data entry and freeing up valuable time for patient care.

All-in-One Efficiency

Medstreaming doesn’t just simplify documentation; it provides a comprehensive, cloud-hosted solution for the entire workflow. From fully integrated PACS (Picture Archiving and Communication System) to clinical reporting and even add-on practice management and billing software, Medstreaming takes care of the whole picture, from image capture to reimbursement. This one-stop-shop approach benefits hospitals, outpatient labs, ambulatory surgery centers, and hybrid practices alike, optimizing operations and reducing administrative burden.

“The Medstreaming workflow solution is a recognized leader in the field,” says Harris Portfolio Leader Santina Allen. “Its seamless integration, time-saving tools, and commitment to clinician experience make it a perfect fit for Harris. We’re excited to work with the talented Medstreaming team and continue delivering software that makes a real difference in healthcare.”

The newly acquired software and team members will operate under the Medstreaming brand, as a part of Picis Clinical Solutions, Inc.

What You Should Know:

– The healthcare industry is poised for a seismic shift, powered by a disruptive technology: blockchain, according to the market.us, the Blockchain Technology in Healthcare Market report.

– This transformative ledger system is projected to propel the global Blockchain Technology in Healthcare Market to a staggering $750B by 2033, a 69.2% annual growth rate compared to its $3.9B valuation in 2023.

Unleashing the Power of Healthcare Blockchain

Imagine a healthcare system where data breaches are a relic of the past, where medical records flow seamlessly between doctors and patients, and where medication supply chains are transparent and secure. This is the future promised by blockchain, a decentralized digital ledger that guarantees data integrity and revolutionizes information exchange.

From Public Blockchains to Biopharma Applications

• Fort Knox for Medical Records: Blockchain’s encrypted blocks ensure data immutability, safeguarding sensitive information from unauthorized access or manipulation. This translates to enhanced security and peace of mind for both patients and healthcare providers.
• Interoperability Unchained: Incompatible systems have long plagued healthcare data sharing. Blockchain provides a standardized platform, breaking down silos and facilitating seamless information exchange between hospitals, labs, and doctors.
• Empowered Patients, Streamlined Processes: Patients regain control over their health data with blockchain. They can decide who accesses their records and benefit from streamlined administrative processes like billing and claims management.
• Supply Chains on Steroids: From tracking pharmaceuticals to verifying medical equipment authenticity, blockchain brings transparency and traceability to healthcare supply chains, combating counterfeiting and ensuring patient safety.
• Smart Contracts for Smarter Care: Automated agreements through smart contracts reduce administrative burdens and accelerate transactions like insurance claims processing, freeing up resources for improved patient care.

Global Giants Embracing Healthcare Blockchain

Europe leads the charge with a 33% market share, fueled by advanced healthcare infrastructure and data protection regulations like GDPR. North America and Asia-Pacific are catching up, with major players like HMS Holdings, Cerner, and Allscripts exploring blockchain’s potential to revolutionize healthcare.

Challenges to Overcome

Regulatory uncertainties, legacy system compatibility issues, and a lack of standardized protocols present hurdles. However, collaborative efforts and innovative solutions are paving the way for widespread adoption.

Future of Healthcare Blockchain

From personalized healthcare apps to secure clinical trial data management, blockchain’s applications extend beyond today’s boundaries. This transformative technology is poised to empower individuals, optimize healthcare operations, and ultimately, deliver better care for everyone.

With many economic hurdles this year including rising costs and inflation, the healthcare industry has had a challenging backdrop in which to operate. In a sector dedicated to improving and saving lives, healthcare has so much to gain by adopting new AI and machine learning (ML) technologies. The World Economic Forum sums up the transformative potential of AI and ML in this setting: from propelling the development of drugs and vaccines to improving medical diagnosis and treatment, it can virtually be applied to any stage of the value chain, boosting efficiencies across the overall healthcare system. 

Like in all organizations today, leading with data and building it into a formal strategy should no longer be viewed as an adjunct to an existing healthcare business model – digital and data must be considered part of it. There are certainly more hoops to jump through in this industry than many others when it comes to privacy, security and governing rules. However, if you look at other highly regulated industries like finance, you can see significant strides by taking a gradual approach with great care. McKinsey’s analysis of data from the banking sector shows that digital and AI transformations created bottom-line value. Healthcare can achieve similar results by applying technology thoughtfully and with purpose.

Digital modernization in healthcare

Healthcare is an industry with great digital promise, but one that has traditionally been hamstrung by its largely legacy IT systems and data practices. This is compounded by IT staff shortages and budget constraints. According to Gartner, top items for increased investment in healthcare include cybersecurity, business intelligence/data analytics and cloud platforms. However, without the supporting IT staff many healthcare systems lag in technological advancement.

Modernizing processes and technology in healthcare is also difficult because the margin of error in healthcare is slim to none, as it many times involves life-or-death scenarios. This means that experimentation and trialling technology is not a common or widely viable option. Additionally, with the immediate and growing financial demands surrounding patient care delivery, executives aren’t always willing to allocate budget to new initiatives where the use case is not crystal clear. This means that adoption of any new technology must be easy to implement, extremely reliable and provide fast results immediately.  

How AI and ML can strengthen healthcare organizations

For an industry built on patient experience, the promise of what AI and ML can deliver is significant. Healthcare systems have an enormous amount of personalized data that could be compared or contrasted with the vast amounts of external studies to design more effective treatments and staffing. The only way this data becomes useful, however, is if a solid data strategy is in place to harness it for action. AI and ML can help immensely in this area. Healthcare companies can better manage patient care by forecasting patient admissions and readmissions and leveraging insights to design precision medicine and preventative strategies, not to mention the operational efficiencies.

Exploring “what-if” scenarios is at the heart of making predictions, and is one of the most impactful ways that AI and ML are being applied in modern medicine today. It reduces provider burden and clinical variation by leveraging statistical techniques that learn from large amounts of training data. For example, when looking to improve patient care, AI and ML can help predict what kind of treatment plan will be most successful, based on their unique characteristics and situation as compared with other patients. In the case of assessing the urgency of care, it can identify gaps in medical history and predict which patients need care first. Appalachian Regional Healthcare (ARH) saw this firsthand, utilizing tailored automated ML and cloud solutions to better identify at-risk patients and encourage them to keep appointments. There are numerous other use cases on the care side and of course on the operational side – such as reducing time-consuming administrative tasks from physicians, like documenting appointment notes and summaries as just one example.

A smarter, simpler healthcare setting for all

Everyone involved in the healthcare system – from patients to providers to payers – will benefit from the data-driven insights generated by AI and ML models. The results can guide business practices, policies and field operations, thus creating a smarter and simpler setting for all. When applied in a safe and controlled way, AI and ML technologies can cost-effectively target valuable use cases where both patient care and operations can quickly see vast improvements. 

About Nick Magnuson

Nick Magnuson is the Head of AI at Qlik, executing the organization’s AI strategy, solution development, and innovation. Nick joined the company through the acquisition of Big Squid, where he was the firm’s CEO, and has previously held various executive roles in the field of machine learning and predictive analytics.

What You Should Know:

– Artisight, Inc., a pioneer in AI-Driven smart hospital technology, announced today that it has raised $42M in an oversubscribed Series B funding round.

– The Series B funding will allow Artisight to double its headcount, fuel the development of new AI capabilities, and solidify its position as the leading smart hospital platform.

Smart Hospital Platform: Revolutionizing Care Through AI and Collaboration

Developed by clinicians for clinicians, Artisight’s platform seamlessly blends IoT sensors, deep learning, and open integration to streamline patient care. Imagine a hospital equipped with Artisight’s superpowers:

– Virtual nursing: AI co-pilots assist nurses, freeing up their time for direct patient interaction.

– HIPAA-compliant capabilities: Computer vision, voice recognition, vital sign monitoring, indoor positioning, and actionable analytics reports empower informed decisions.

– Reduced documentation and coordination burden: Clinicians can focus on what matters most – their patients.

– Improved patient outcomes and satisfaction: Artisight’s data-driven insights lead to better care and happier patients.

Results Speak Louder Than Words

Artisight’s impact is not just theoretical. Look no further than Northwestern Medicine, a prestigious healthcare system, for proof:

– 52% reduction in nursing overtime: Artisight empowers nurses, maximizing their efficiency.

– 89% reduction in falls: AI co-pilots keep patients safe and prevent accidents.

– 76% reduction in nursing turnover: Happy nurses stay, creating a stable and positive environment.

– Record-high patient and nurse satisfaction: The Artisight difference is evident in every smile.

“This funding is a game-changer,” says Artisight co-founder and CEO, Dr. Andrew Gostine. “We’ll double our headcount, develop new solutions, and support the nearly 200 hospitals implementing Artisight. We’re the only true ambient intelligence platform, transforming care from clinics to operating rooms.”

What You Should Know:

– TruLite Health, a pioneer in health equity solutions, and Mayo Clinic, a global leader in medical care, today announced a groundbreaking collaboration to address disparities in medical outcomes and costs for diverse patient populations.

– This partnership marks a significant step forward in the fight against clinical bias, a pervasive issue that disproportionately impacts the health of Black, Latinx, and other minority communities.

Quantifying the Impact of Bias

Clinical bias has a staggering financial and human cost. A TruLite study revealed that individuals with one of seven chronic illnesses who are Black or Latinx incur approximately $5,300 more in annual healthcare expenses compared to their White counterparts. Truity™ aims to tackle this disparity head-on by ensuring all patients receive equitable care regardless of their background.

Truity™: AI Championing Fairness in Healthcare

TruLite’s revolutionary software, Truity™, identifies and mitigates clinical bias within electronic health records (EHRs). The platform analyzes patient data and suggests personalized interventions for clinicians, care teams, and patients themselves. These interventions address social and behavioral factors that often contribute to unequal healthcare outcomes, particularly for Black and Latinx populations.

Mayo Clinic: A Powerhouse Partner

Mayo Clinic brings its vast expertise and resources to the table. Their physicians will provide valuable feedback on Truity™, helping refine the user experience and workflow to maximize its effectiveness in clinical settings. Additionally, Mayo Clinic has a financial interest in the technology, demonstrating its commitment to advancing health equity solutions.

This partnership goes beyond software:

• Virtual health equity coaching: TruLite offers virtual coaching programs to empower patients and advocate for their healthcare needs.
• Partnership with Morehouse School of Medicine: TruLite collaborates with Morehouse to address the specific healthcare challenges faced by Black communities.

“This collaboration with Mayo Clinic represents a critical milestone in the fight for health equity,” says Dr. Alan Roga, Founder and CEO of TruLite. “Mayo Clinic’s expertise and commitment to patient care, combined with TruLite’s innovative technology, will allow us to reach a wider audience and make a real difference in people’s lives.”

What You Should Know:

• DeepScribe, the leading enterprise-grade AI medical scribe, today announced key updates to its integration with Epic Systems’ electronic health record (EHR).
• DeepScribe’s recently launched Customization Studio, which allows users to build custom models to support unique specialty and organizational needs, is now fully integrated with Epic’s SmartData elements. This makes DeepScribe the first solution to harmonize an extensive suite of customization options with Epic’s interface and establishes a new benchmark for ambient solutions on their platform. 

Revolutionizing Clinical Documentation: DeepScribe’s Enhanced Integration with Epic Transforms Charting Efficiency

In collaboration with Epic and Covenant HealthCare, DeepScribe has refined its integration based on feedback from clinicians, technical experts, and organizational stakeholders. This user-centric approach enables DeepScribe to seamlessly incorporate highly personalized documentation into a patient’s chart fields, resulting in a remarkable reduction of up to 75 percent in after-hours documentation for Covenant clinicians. 

Furthermore, this partnership has laid the groundwork for SmartData compatibility on the Epic platform, offering improved back-end communication and unlocking the full potential of DeepScribe’s Customization Studio across various Epic instances. This advancement not only enhances the user experience but also sets the stage for other ambient solutions to adopt similar innovations.

“We worked tirelessly with DeepScribe developers to enhance the integration in a way that meets clinical needs more holistically,” said Frank Fear, CIO of Covenant HealthCare. “The primary objective for us was to help DeepScribe establish compatibility with Epic’s SmartData elements. With that functionality built out, we can now properly leverage all of DeepScribe’s unique features in a really cohesive manner. That seamlessness between platforms is empowering us to streamline workflows and improve the clinician-patient experience.”