Billed as “a dynamic conversation exploring the burning issues in healthcare IT and how they will drive transformation in the year ahead,” Dell’s most recent think tank event titled, “At the Crossroads: Technology and Transformation in Healthcare,” is, if nothing else, an interesting, and pretty decent, conversation about some of the biggest issues currently facing health IT.
Featuring some of the usual health IT thought leader suspects — including John Lynn, Brian Ahier, Shahid Shah and Dr. Wen Dombroski, among others — the roundtable discussion provides a good deal of insight; some of it very high-level and forward-thinking and some of it table stakes.
Patient engagement continues to be a hot topic, as well as healthcare analytics, data and using it to improve quality and outcomes. Nice to finally see conversations focusing on the individual and not just the population; something I’ve long hoped for and tried to push when I worked on the vendor side of things. Like many of the thoughts expressed at the event, however, we may still be a long way off from actually realizing that goal and that’s a shame for all of us.
I must admit, though, that it’s nice to hear a lot of conversation around the fact that EHRs are finally reaching the point that they’re foundational and not the next big thing — that’s become a tired conversation. Foundational technology yes, but like many of the panelists expressed, it’s time we move beyond talking about them as silos and rather how EHRs will help to improve care through the care sphere.
If you have some time, these videos are worth taking a look at. You can view them here, or below.
As expected, M*Modal has filed for bankruptcy protection. Here’s the release from the company announcing the news:
M*Modal, a leading provider of cloud-based clinical documentation and Speech Understanding solutions, today announced it has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. M*Modal expects to use the Chapter 11 process to align the Company’s debt structure with its vision, strategy and operations to better position the Company for long-term success. The Company has been – and remains – in constructive discussions with its lenders and bondholders regarding the terms of a consensual financial restructuring plan and is focused on achieving a resolution as expeditiously as possible. M*Modal’s worldwide operations are expected to continue in the normal course throughout the restructuring process.
Duncan James, M*Modal’s Chief Executive Officer, said, “When M*Modal was taken private in 2012, the acquisition was financed with a capital structure aligned with a specific set of assumptions that are no longer relevant. As a result, there is a need to restructure the company’s balance sheet to better align with changing market dynamics and refinements to our strategy. We intend to use the Court process to significantly strengthen M*Modal’s balance sheet and improve the company’s financial flexibility by reducing our debt burden and establishing a capital structure that supports our investment in the future.”
James continued, “Throughout this process we are not changing our operational execution or strategy, and our operations will continue as normal. Importantly, we will continue what we are known for: providing innovative technologies and offering healthcare providers a superior choice when selecting their clinical documentation and speech understanding technology partner. M*Modal has solid revenue, strong operating margins, cash flows consistent with industry norms, a large and growing customer base, and we are continuing to invest in the future. We intend to emerge with a strong financial footing so we can continue growing our market share and delivering innovative solutions to our customers.”
The company expects that its cash on hand, combined with funds generated from ongoing operations, will provide sufficient liquidity to continue operating in the ordinary course throughout this process.
Dechert LLP is serving as legal counsel, Lazard Frères & Co. L.L.C. is serving as investment banker, and Alvarez & Marsal is serving as financial advisor to M*Modal.
About M*Modal
M*Modal is a leading healthcare technology provider of advanced clinical documentation solutions, enabling hospitals and physicians to enrich the content of patient electronic health records (EHR) or electronic medical records (EMR) for improved healthcare and comprehensive billing integrity. As one of the largest clinical transcription service provider in the U.S., with a global network of medical editors, M*Modal also provides advanced cloud-based Speech Understanding™ technology and data analytics that enable physicians and clinicians to include the context of their patient narratives into electronic health records in a single step, further enhancing their productivity and the cost-saving efficiency and quality of patient care at the point of care. For more information, please visit www.mmodal.com, Twitter, Facebook and YouTube.
The American College of Emergency Physicians (ACEP) and Florida College of Emergency Physicians (FCEP) have sent a formal response to Marilyn Tavenner, the Administrator and Chief Operating Officer of the Centers for Medicare & Medicaid Services (CMS), supporting CMS’ planned hearing to address Florida’s restriction of emergency department use to six visits per year for Medicaid beneficiaries which ACEP asserts is a violation of the prudent layperson standard. ACEP calls the hearing notice “a welcome commitment of federal oversight of beneficiary protections.”
Alex Rosenau, DO, FACEP, president of ACEP, and Michael Lozano, president of FCEP, issued a statement:
“Florida’s action is a violation of the prudent layperson standard that may result in serious and potentially deadly outcomes. Its use of the six-visit limit is yet another example of states using short-sighted approaches to saving money that can hurt the very people they are supposed to protect. As CMS itself has stated, Medicaid beneficiaries use the emergency department at an almost two-fold higher rate than the privately insured, but that is not inappropriate given their generally poorer health. At least two studies found that the majority of emergency visits by non-elderly Medicaid patients were for symptoms suggestive of urgent or emergent medical problems.
Guest post by Michelle Blackmer, director of marketing, healthcare, Informatica.
Several weeks into the New Year, our fitness resolutions are still top of mind. Whether tracking calories or steps, we are asking ourselves questions like “how many pounds have I lost?”, “how many calories did I eat?” and “how many steps did I take?” To take the guesswork out of it and to hold ourselves accountable, many of us put a Fitbit, Nike Fuel or Jawbone on our wish lists. Our physical fitness has become data-driven; these devices create data that provide insight, enable us to visualize patterns and generate millions of bytes of data, which helps account for the anticipated annual 40 percent growth in big data. However, this is only the tip of the iceberg for data-driven healthcare.
Health information leaders must continue to assess their business resolutions and take stock of their healthcare data fitness. This is especially important since an alarming 40 percent of healthcare executives gave their organizations a grade of “D” or “F” on their preparedness to manage the data deluge. What’s more is that none felt their organization deserved an “A.”
Successful transformation to value-driven care requires an investment in enterprise information management. However, healthcare organizations are tightening their belts and bracing for the hit to their bottom lines in response to the health reform law that took effect on January 1, 2014. Instead of scaling back, healthcare organizations must invest in the fitness of their data. After all, if the wrong data is analyzed (i.e., inaccurate, incomplete, missing or even unnecessary), organizations are going to make the wrong decisions. What is the cost of making the wrong decision?
Assess your data fitness. Ask yourself the following questions:
I received the following from Simione Healthcare Consultants and thought it actually quite provocative so thought I’d share. There are some really great organizational leadership insights here that are worth a look.
In a nutshell, integrated actions must be taken to create an environment where health organizations can achieve positive and sustainable results. Positive changes must be made from the inside out to achieve lasting financial gains without sacrificing quality, access or the level of patient satisfaction.
Take a look at the following. If nothing else, it’s an interesting read:
Ron Barrera
Congratulations, your business has reduced expenses. It must be a relief to finally be on track. Ron Barrera, director at Simione Healthcare Consultants, responds politely with, “Not so fast.” Given the complexities and requirements residing in all healthcare organizations, Barrera says that financial success today means thinking beyond simply cutting costs.
“Organizations must work intentionally to implement a wide range of integrated actions to thrive and achieve positive, sustainable financial results. When a hospital, home health agency or hospice eliminates or reduces an expense without consideration for the process behind it, the value of services may suffer. Positive changes must be made from the inside out to achieve lasting financial gains without sacrificing quality, access or the level of patient satisfaction,” Barrera explains.
The Atlanta-based Simione finance and operational expert suggests that home care and hospice agencies consider four strategies for operating at peak performance:
Maximize existing resources
Simplify processes
Evaluate clinical service delivery model
Leverage technology
In maximizing existing resources, Barrera suggests efforts to engage employees at all levels to build enthusiasm and a commitment to improving outcomes. “Any time you spend with your team communicating about the value of their work and discussing ways to improve will help productivity,” he says, “and special attention to your management team will develop more effective leaders to engage the hearts, hands and minds of staff.
Garth Graham, M.D., M.P.H., specializing in cardiology, is the current president of the Aetna Foundation and former deputy assistant secretary at the U.S. Department of Health and Human Services (HHS) during both the Bush and Obama administrations. Here he discusses the Aetna Foundation, improving quality of care, how the health IT community continues to change, how can it best be used as a positive tool for better health outcomes, even at the individual level.
Tell me about the Aetna Foundation and your role within the organization? How does the Foundation impact healthcare community?
The Aetna Foundation is the philanthropic arm of Aetna, Inc. funding a number of activities across the country that promote thought-leadership and community-based impact as well as research around improving health outcomes. As the Foundation’s president, I oversee the philanthropic work, including grant-making strategies aimed at improving the health of people from underserved communities.
Overall, at the Aetna Foundation we seek to impact the healthcare community by supporting research and organizations focused on improving the health and wellness of individuals throughout the United States.
How do you go about working to improve the health status and quality of care of the individual and community?
Our Digital Health Initiative is the most recent example of our efforts to fund both national and local programs that are striving to limit healthcare disparities among vulnerable populations, as well as increase positive health and wellness outcomes for individuals. Through this initiative, we are supporting technology that can empower individuals with the convenience and control to meet their personal health and wellness goals.
We hope that by arming individuals with the best possible tools to improve their health, we can ultimately build healthier communities.
Edison Nation Medical, a medical device incubator and healthcare innovation portal, is launching a global search to uncover innovative ideas for improving the design, packaging and administration of medications as a way to address the issue of accidental poisonings. This search coincides with National Poison Prevention Week, which takes place March 16 – 22.
Every 15 seconds, a Poison Control Center somewhere in the United States receives a call. According to the Centers for Disease Control and Prevention (CDC), there are approximately 2 million poison exposures in the United States every year—57 percent among children under the age of six.
In 2007, Dr. Daniel Budnitz, a scientist with the CDC’s Medication and Safety Program, started tracking children who were treated in emergency rooms after potentially toxic accidental pharmaceutical poisonings. At the conclusion of his tracking period in 2011, federal estimates put the number at around 74,000, which surpassed the number of children younger than six who needed emergency room treatment as a result of car crashes.
Poisoning from medication also affects the elderly; these poisonings are more likely to require hospitalization and to be fatal compared with younger individuals. Analgesics, cardiovascular medications, COPD and asthma preparations, antidepressants and other psychotropic medications are most commonly implicated in drug poisoning fatalities in elderly Americans. The primary reasons for unintentional drug poisonings in older patients include taking more than the prescribed dose, taking someone else’s medication, administering medication incorrectly and storing medication improperly.
According to the CDC, more than 41,000 people died as a result of poisoning in 2008 and more than 76 percent of those poisoning deaths were unintentional.
Guest post by Alexandra Sewell, executive director, emerging markets, Comcast Business.
As the healthcare industry moves through 2014 and begins planning for 2015, several trends continue to dominate the healthcare IT landscape. Healthcare organizations are grappling with the explosion of Big Data and implementing strategies to achieve varying stages of meaningful use. The industry is working toward interoperability, mobility and improving data security – all while looking to control costs and provide quality care.
New healthcare technologies hold great promise to improve both access to and quality of care, but they are in varying stages of adoption and federal approvals. This is leaving healthcare organizations and their IT directors searching for flexible solutions that can address current and future technologies.
Unfortunately, the industry’s approach to how technology is sourced, implemented and integrated as a business strategy is fractured. Many vendors offer different approaches to today’s healthcare technology challenges, but very few offer total solutions.
With that said, some technology is taking hold, such as digital hospital rooms, virtual medicine kiosks and mobile e-health devices, which allow physicians and other clinicians to monitor, diagnose and treat patients from remote locations. PACS imaging, electronic health records (EHR) and other data can now be shared within the entire healthcare ecosystem – from patients and clinicians to pharmacists and payers, and this is progress. But it’s been slow to take shape and there are still many questions to be answered.
