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Industry News Update 11/1/19

November 2019 | Mike Murphy

Industry News

Learn About the Latest in Healthcare and Healthcare IT by Reading this Week's Industry News Update

Click on the links below to read the full news articles.


 

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Regulatory, Legislative,

and

Legal News

 

A bipartisan pair of senators on Tuesday introduced a bill to fix the so-called "rural glitch" in the CMS' reimbursement formula for accountable care organizations and potentially increase reimbursement.

The ONC has entered into a cooperative agreement with Integrating the Health Enterprise USA to jointly advance interoperability goals.

The CMS postponed the start of a new alternative payment model last week, but encouraged Medicare providers to apply and move toward value-based care.

More than 1,500 participating hospitals will receive about $1.9 billion in bonuses for the fiscal year 2020 under the CMS Hospital Value-based Purchasing Program, the agency revealed on Tuesday.

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Financial

and

Investment News

 

Smaller health systems had healthier net operating income than larger organizations did, according to Navigant's analysis of 94 not-for-profit systems from 2015 to 2018.

Cerner reports Q3 results: revenue up 7%, adjusted EPS $0.66 vs. $0.63, meeting analyst expectations for both. The company issued mixed Q4 guidance.

NextGen Healthcare reports Q2 results: revenue up 3%. adjusted EPS $0.24 vs. $0.24, beating earnings estimates but falling short on revenue.

Walgreens will close 150 of its company-managed clinics by the end of the year as part of previously announced cost-cutting efforts that it hopes will help shave off $1.8 billion in costs.

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New Products

and

Services

 

 

Uber Health is collaborating with Cerner to embed its platform into the health IT company's electronic health record system.

Amazon will offer newly acquired Health Navigator’s symptom-checker and triage chatbot service to its employees as part of its Amazon Cares virtual clinic pilot.

Azalea Health adds Red Spot Interactive’s patient relationship management software to its EHR and practice management product.

Facebook launches a Preventive Health tool that will remind users to get vaccines, checkups, and tests based on their demographic profiles.

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Privacy

and

Security

 

• Security researchers have found dozens of Android apps in the Google Play store serving ads to unsuspecting victims as part of a money-making scheme. ESET researchers found 42 apps containing adware, which have been downloaded over 8 million times since they first debuted in July 2018.

Researchers discovered that Adobe exposed 5 million records associated with Creative Cloud customers, including email addresses and other account information.

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Other

Industry

News

 

 

• The ECRI Institute found that diagnostic testing errors represented 47% of all patient safety events reported in outpatient care over a one-year period.

Rock Health released a new report conducted in partnership with Stanford University that analyzes how the consumerization of healthcare is shaping the future of the industry.

According to a recent literature review of published mobile app safety investigations, these offerings have been shown to include issues ranging from poor content or information to faulty functionality. The researchers identified 67 unique safety concerns regarding the quality of information provided by these health apps.

A Health Services Research study finds that mortality rates among heart attack patients increase at hospitals that have experienced a data breach, with as many as 36 additional deaths per 10,000 heart attacks occurring annually at the hundreds of hospitals studied. 

UPMC and Wanda Group plan to open five private hospitals in China in what UPMC says is the largest presence of American academic medicine outside of the United States.

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